Lagos Speaker applauds Sanwo-Olu’s leadership, backs N4.237trn ‘Budget of shared prosperity’

Speaker of the Lagos State House of Assembly, Rt. (Hon) Mudashiru Obasa, has commended Governor Babajide Sanwo-Olu for what he described as a sustained record of “resourceful consistency” in navigating economic challenges and advancing infrastructure development across the state.

Obasa made the remarks on Tuesday during the formal presentation of the 2026 Appropriation Bill at the Assembly Chamber.

Governor Sanwo-Olu presented a ₦4.237trn appropriation bill tagged “Budget of Shared Prosperity,” outlining key government priorities for the 2026 fiscal year.

Obasa applauded recent national economic milestones, including the International Monetary Fund’s confirmation that Nigeria has cleared its debt obligations and the Financial Action Task Force’s removal of the country from its grey list. He also highlighted the impact of the National Education Loan Fund (NELFUND) and praised First Lady Senator Oluremi Tinubu for initiatives focused on women’s economic empowerment, menstrual hygiene for schoolgirls, and educational advancement.

The Speaker further lauded Sanwo-Olu’s leadership, noting Lagos’ emergence as the first African city to host the E1 Racing Championship. He said the proposed budget’s emphasis on healthcare, education, transportation, security, and governance aligns with the state’s long-term development agenda.

Reaffirming the Assembly’s commitment to a thorough review of the budget, Obasa emphasized that Lagos’ record of good governance is rooted in effective collaboration between the executive and the legislature.

He cited recent legislative approvals—including a monthly irrevocable Standing Payment Order for the Smart Solar All-in-One Streetlight Project and an oversubscribed ₦125 billion bond issuance—as clear indicators of investor confidence in Lagos’ fiscal discipline.

Reviewing the performance of the 2025 budget, Obasa noted significant progress in the health, education, transport, and security sectors. He stressed that the 2026 spending plan must further strengthen economic resilience, enhance public welfare, and improve security and infrastructure delivery.

Obasa also commended newly elected local government and LCDA chairmen for notable achievements within their first 100 days, particularly in road construction and grassroots service delivery.