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Sanwo-Olu Presents N4.2tr 2026 Budget to Lagos Assembly

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Governor Babajide Sanwo-Olu on Tuesday laid before the Lagos State House of Assembly a N4.237 trillion Appropriation Bill for the 2026 fiscal year, describing it as an ambitious, future-driven financial plan aimed at solidifying his administration’s legacy in its final full year.

Presenting the proposal, titled the “Budget of Shared Prosperity,” the governor said it reflects the collective optimism that Lagos will continue to expand opportunities, strengthen its leadership role, and reinforce its status as Africa’s foremost megacity.

Sanwo-Olu disclosed that the budget projects total revenue of N3,993,774,552,141, comprising N3.12 trillion in Internally Generated Revenue and N874 billion in expected Federal Transfers. The funding structure, he noted, leaves a deficit financing requirement of N243,332,457,167.

For the 2026 fiscal year, capital expenditure is set at N2,185,085,419,495, while recurrent expenditure stands at N2,052,021,589,812. He explained that the recurrent component covers overheads, personnel costs, and debt obligations.

A breakdown of recurrent spending shows total overhead costs of N1,084,245,843,091, including general overheads, subventions and dedicated expenditures, while personnel costs amount to N440,494,339,384. Recurrent debt charges are projected at ₦143,876,701,943, with debt repayments estimated at N383,404,705,394.

Sanwo-Olu also outlined the sectoral distribution of the 2026 budget. General Public Services will receive N847,472,071,966; Public Order and Safety, N147,040,088,897; and Economic Affairs, N1,372,307,808,626. The Environment Ministry is allocated N235,957,235,138, while Housing receives N123,760,310,429.

The Health sector is earmarked N338,449,258,945; Education gets N249,132,921,287; Social Protection, N70,024,171,038; and the Recreation and Culture sector will take N54,682,339,586.

The governor said the year 2026 carries special weight as the last full calendar year of his administration, describing it as a period crucial for consolidating achievements and ensuring a “strong, successful finish.”

He reaffirmed his commitment to completing all ongoing and newly initiated projects, adding that his administration will continue to prioritise citizen engagement to ensure government decisions reflect the needs of Lagosians.

According to him, Lagos is entering a new phase of “accelerated impact,” driven by sustained investment in infrastructure, human capital, social welfare and governance systems that are “intentional, inclusive and future-oriented.”

Sanwo-Olu reiterated his administration’s core mission: “To keep Lagos secure, to keep Lagos working, to keep Lagos growing, and to make sure the prosperity we build is shared by everyone who calls this centre of excellence home.”

He commended the Lagos State House of Assembly for its consistent partnership, describing the lawmakers as steadfast allies in the state’s development journey. He also praised the civil service for its hard work in translating government vision into measurable progress.

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Obi Condemns Arrest of Sheikh Ahmad Shortly after Meeting in Kaduna

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Former Anambra State Governor and ex-Labour Party presidential candidate, Peter Obi, has condemned the reported arrest of a prominent Islamic cleric, Sheikh Ahmad Tijjani Umar, describing it as a troubling sign for Nigeria’s democracy.

In a post via his verified X handle on Tuesday, Obi said he had been informed that the cleric was arrested shortly after hosting him in Kaduna on Sunday.

“I have just been made aware early this morning that revered religious leader, Sheikh Ahmad Tijjani Umar, has been arrested by authorities shortly after hosting me in Kaduna on Sunday,” Obi said.

The former governor warned that the development reflects a broader pattern of intolerance and repression in the country.

“This development underscores the deeply troubling state of our nation and our democracy, where freedom of speech and movement is increasingly threatened, and where citizens and perceived political opponents face harassment and unnecessary persecution. This cannot be allowed to continue,” he stated.

Obi stressed the importance of protecting civil liberties, noting that democratic governance depends on the protection of fundamental rights.

“This country must defend freedom and free speech, which are the hallmarks of every democratic society. Suppression and intimidation of dissent can never stand in a democratic society, and this Nigerian government must understand this fact,” he added.

He further called on authorities to uphold the rule of law and democratic principles in their dealings with citizens.

“I respectfully call on all those bent on undermining our already fragile democracy to please stop and apply the rule of law and tenets of democracy in dealing with citizens,” Obi said.

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N868m Fraud: Court Jails Ex-AGF Nwabuoku 72 Years

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Justice James Omotosho of the Federal High Court in Abuja has convicted and sentenced a former acting Accountant-General of the Federation (AGF), Chukwunyere Nwabuoku, to a 72-year jail term without an option of fine.

Delivering Judgment, James Omotosho held that the Economic and Financial Crimes Commission (EFCC) had been able to prove the nine-count money laundering charge beyond reasonable doubt.

According to the judge, the defendant is hereby convicted as charged.

Justice Omotosho convicted Nwabuoku in all nine counts and sentenced him to eight years imprisonment in each of the counts, making 72 years.

The judge, however, ordered that the counts shall run concurrently.

Justice Omotosho, who described Nwabuoku’s act of diverting funds meant for security and defence while he served as Director of Finance and Accounts in the Ministry of Defence as “appalling,” commended the EFCC for being detailed in its prosecution.

The judge observed that the evidence of the 9th prosecution witness that Nwabuoku voluntarily refunded part of the siphoned money of over N200 million during the investigation was not controverted by the defence.

He was arraigned on January 15, 2025, on a nine-count amended charge and was admitted to a N500 million bail with two sureties in the like sum after he was

Nwabuoku was alleged to have perpetrated the act while serving as the Director of Finance and Accounts in the Ministry of Defence between 2019 and 2021.

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Borno Acts of Terror: Tinubu Orders Security Chiefs to Relocate to Maiduguri

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President Bola Tinubu has ordered security chiefs to relocate to Maiduguri, Borno State, where about 23 people were killed following explosions in the North-Eastern city, and has promised to track the perpetrators of the “acts of terror”.

President Bola Tinubu, in condemning the incident, described it as part of the “desperate and frantic attempts by criminals and terrorist elements trying to instil and spread fear” among people owing to pressure from security forces.

He said the government is beefing up security across the country and has “directed security chiefs to move to Maiduguri to take charge of the situation.

“I have also directed the emergency agencies to provide proper care for the injured,” Tinubu wrote in a statement on Tuesday.

The president said the incident is “profoundly upsetting” but warned that “There is no place in Nigeria where terrorists will find safety.

“We will locate them, confront them, and completely defeat them.”

See also  Troops kill two ‘terrorists’, recover weapons in Borno

“We will continue to intensify our efforts against all criminal elements, wherever they may be,” Tinubu promised.

He lauded the “courage and fighting spirit of our patriotic troops” for their efforts in repelling the “coordinated attacks by these terrorists on military positions in the state”.

Listing efforts by his administration, Tinubu said he recently “approved additional equipment and operational support to enhance their capabilities.

“This effort is already in progress,” he said.

Meanwhile, the Northern Senators’ Forum said it is “shocked and saddened by the devastating bomb explosions.”

While extending “heartfelt condolences to the government and people of Borno State,” the lawmakers assured that “everything will be done by the Federal Government to ensure that the people regain confidence in the City.”

“We pray for the speedy recovery of the injured and comfort for the families of the victims,” Abdulaziz Yar’Adua, the forum’s leader, said in a statement.

“We also call on all Nigerians to remain calm and support the efforts of the security agencies to bring the perpetrators to justice.”

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