Nigeria, Nov. 26 -- Lagos State Governor Babajide Sanwo-Olu on Tuesday presented a proposed N4.237 trillion budget for the 2026 fiscal year to the state House of Assembly.

The proposal marks a significant increase of over N1 trillion compared to the N3.005 trillion budget for 2025, presented last November.

"This budget is proposed at a total size of N4.237 trillion. It comprises total revenue of N3.993 trillion, with a deficit financing of N243.332 billion. The revenue includes internally generated revenue (IGR) of N3.119 trillion and total federal transfers of N874 billion," the governor said.

Governor Sanwo-Olu proposed N2.185 trillion for capital expenditure and N2.055 trillion for recurrent expenditure, which will cover overheads, ...