Nigeria, Jan. 9 -- The Lagos State House of Assembly on Thursday approved a total of N4.44 trillion as the state's budget for the 2026 fiscal year.

The approval followed the passage of a bill authorising the issuance and appropriation of N4,444,509,776,438 for the year ending 31 December 2026.

Presenting the report during plenary, the Chairman of the House Committee on Economic Planning and Budget, Olumoh Sa'ad, said the approved spending plan consists of N2.11 trillion for recurrent expenditure and N2.34 trillion for capital projects.

Specifically, recurrent expenditure was pegged at N2,106,704,566,113, while capital spending was allocated N2,337,805,210,325, according to the committee's report.

Following the passage of the bill, the...