By Emmanuel Ukudolo I Wednesday, Nov.26.25
LAGOS, Nigeria – Lagos State, Nigeria’s economic powerhouse, is accelerating its pace of development, reporting an 81 per cent implementation rate for its 2025 budget as of the end of September.
The Governor, Babajide Sanwo-Olu, disclosed that the state’s actual capital expenditure has reached N1.238 trillion, signaling a major push towards completing ongoing and new infrastructure projects.
Investment and Fiscal Performance
The strong budget performance comes alongside a significant boost in investor confidence. Sanwo-Olu announced that Lagos successfully secured over N1 trillion in new investment commitments in 2025.
”The investments we are making are deliberate, inclusive, future-focused, and prosperity-driven,” the Governor stated, attributing the influx of capital to the state’s forward-looking industrial agenda and reflecting “heightened investor confidence.”
Sanwo-Olu also highlighted that the economic reforms initiated by President Bola Ahmed Tinubu have been instrumental in creating new revenue pathways for Lagos, helping the state meet its rapidly expanding needs despite national economic challenges.
The Governor emphasised that Lagos is transitioning into a “phase of accelerated impact,” building on “solid foundations laid in the past years.”
This focus on speed and execution was echoed by the Assembly Speaker, Rt. Hon. Mudashiru Obasa, who described the newly presented 2026 budget proposal as a “comprehensive budget” that prioritises critical sectors necessary to sustain Lagos’ position as Africa’s leading economic hub.
The Assembly has pledged to “meticulously perform its constitutional duty” by thoroughly scrutinising the 2026 budget to ensure it aligns with the aspirations of Lagosians for socio-economic growth and institutional development.
