The 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.
Security was heightened within and around the Assembly complex, with officers from the police, the Nigeria Security and Civil Defence Corps, and the Lagos State Neighbourhood Safety Corps stationed at major entry points.
Members of the state executive council, local government officials, traditional rulers, and other guests attended the session, which was presided over by the Speaker, Mudashiru Obasa.
Sanwo-Olu began his presentation of the budget, tagged “Budget of Shared Prosperity,” at about 1.25 p.m.
During the address before the 40-member House, the governor emphasised that the 2026 proposal was designed to promote shared prosperity and build a Lagos that benefits all residents.
“Our mission remains clear, to eradicate poverty and build a Lagos that works for all,” the governor said.
He noted that the budget is anchored on four strategic pillars: a human-centred approach, modern infrastructure, a thriving economy, and good governance.
If approved, the N4.2tn proposal would represent a major leap in Lagos’ annual spending plan, reflecting growth of over N3tn in five years.
Budget records show that the state’s appropriation has risen from N1.1tn in 2021 to the N4.2tn now proposed for 2026 — an increase of N3.074tn under Sanwo-Olu’s administration.
The budget rose to N1.75tn in 2022, N1.76tn in 2023, and N2.26tn in 2024. By 2025, Lagos surpassed the N3tn mark with a N3.366tn budget ahead of the latest N4.237tn proposal.
According to the governor, the new budget “is reaffirming of our collective belief that Lagos can continue to rise.”
Sanwo-Olu added that the proposal builds on existing development foundations and restated his commitment to completing ongoing projects.
“We remain determined to complete all ongoing projects,” he said. (Punch)
Following the devastating inferno that gutted Afriland Towers, a six-storey commercial building on Broad Street, Lagos Island on Tuesday, six additional victims were confirmed dead yesterday, after the initial four persons on the fateful day.
Meanwhile, President Bola Tinubu, Lagos State Governor, Babajide Sanwo-Olu, Speaker, Lagos State House of Assembly, Mudashiru Obasa, and Presidential Candidate of the Labour Party, LP, in the 2025 election, Peter Obi, had in separate messages, expressed their condolences to family members, management of Federal Inland Revenue Service, FIRS, United Bank for Africa, UBA, and United Capital Plc over unfortunate incident.
The latest six casualties were employees of United Capital Plc, a financial and investment services firm, situated on the third and fourth floors of the building.
Meanwhile, Director, Lagos State Fire and Rescue Service, Mrs. Margaret Adeseye, in a statement earlier, confirmed 10 persons dead.
In her response, titled; “Update on the report of fire incident at Afrialand Towers Broad Street, Lagos,” simply stated, “Further investigation with the Afriland team however, revealed that 10 adults male including female were confirmed dead afterwards.”
Recall that the management and staff of FIRS, had earlier in a statement on Wednesday, by the Special Adviser on Media to the FIRS chairman, Dare Adekanmbi, confirmed the death of four staff members to include: Mrs. Ekelikhostse George (Assistant Director), Mr David Sunday-Jatto (Assistant Director), Mrs. Nkem Onyemelukwe (Senior Manager) and Mr Peter Ifaranmaye (Manager).
One of the deceased, Jatto, it was gathered was in the office on the fateful day to hand over officially to his successor after been redeployed to another branch when the tragedy claimed his life.
The raging fire it was gathered by emergency agencies, originated in the inverter room located in the basement of the building while smoke spread across multiple floors and engulfed the structure, trapping occupants in the process.
“It is with a heavy heart that FIRS announces the tragic loss of four of its staff members during the fire incident at Afriland Towers, Broad Street, Lagos, on Tuesday.
“FIRS is one of the tenants occupying the Towers with our Medium Tax Audit and Onikan Emerging Tax Office housed on the sixth and seventh floors.
“Our Security and Safety officials quickly mobilized and contacted the fire service as soon as they were alerted. On getting to the scene, thick dark smoke was already billowing out of the building.
“The Management and entire staff are in deep shock and sorrow over the development. They offer their condolences to the grieving families and are in touch with the families of our departed colleagues whose commitment to excellence, dedication and professionalism were never in doubt. We will provide all the necessary support at this trying time.
“We are working in collaboration with all relevant agencies in Lagos to get to the root cause of the unfortunate incident. While this is going on, we will be reviewing safety measures across FIRS offices in both rented and owned buildings nationwide,” the statement reads.
However, statement by United Capital Plc yesterday, reports came in from another affected firm management, confirming the loss of six members of staff to the tragic incident, raising the total death toll to 10 so far.
A statement by United Capital Plc, made available to the media yesterday confirmed six of its staff dead in the incident.
The statement read in part; “It is with profound grief that the Management and Staff of United Capital Plc announce the passing of six of our dear colleagues, following the tragic fire at Afriland Towers on Tuesday, September 16, 2025.
“Our departed colleagues were an integral part of our company and family. Their painful loss leaves an immeasurable void. We extend our deepest and heartfelt condolences to their families, friends, and loved ones, and we continue to hold them in our thoughts and prayers, as well as provide all the support we can to them during this most difficult time.
“We are making preparations for an appropriate memorial service to honour their lives and mark their passing with dignity and solemnity. We thank the emergency services and all those who responded for their valiant assistance at the time of the incident.
President Tinubu in a statement by his Spokesman, Bayo Onanuga, called for more caution, training, and alertness to avert future occurrences.
Tinubu extended his condolences to the management and staff of Afriland Properties Limited, the FIRS, UBA, and particularly those who lost loved ones in the inferno, and the injured who are currently receiving medical attention.
He commended the emergency responders, including the Federal Fire Service, first aiders, medical personnel, and members of the public for their quick intervention with their deep sense of responsibility during the evacuation operations.
Tinubu prayed that God Almighty will receive the souls of the departed and grant quick recovery to the injured.
Sanwo-Olu who described the tragedy as “unfortunate,” expressed shock over the ugly incident that claimed the lives of people and the destruction of properties.
The Special Adviser to Governor Sanwo-Olu on Media and Publicity, Gboyega Akosile, in a statement issued on Thursday, said: “It is with a heavy heart that I received news of the fire outbreak. Our thoughts and prayers are with the families and the management and staff of all the organisations that lost their loved ones in the ugly incident. I wish the injured persons a speedy recovery.”
He pledged the government’s continued support for further prevention and arrest of such ugly incidents.
Obi mourns
“I like to sincerely extend my deepest sympathy and heartfelt prayers to all the families and companies affected by the tragic fire, as well as the traders at Mandilas Market and adjoining plazas along Taiwo Street, Lagos Island, whose stores were engulfed in the fire. It is deeply heartbreaking that valued lives and livelihoods were lost in this devastating incident.
The Nigeria Labour Congress, NLC, in its reaction, raised alarm over the recent spate of devastating fires in Lagos and called for probe. (Vanguard)
Lawmakers and staff of the Lagos State House of Assembly wept in the full glare of those present on Monday when the former Speaker, Rt. Hon. Mojisola Meranda, tendered her resignation letter to allow the previously impeached speaker, Rt. Hon. Mudashiru Obasa, to return to his position.
LEADERSHIP reports that the House had been engulfed in crisis since January 13 when Hon Mudashiru Obasa was removed as Speaker.
Most of the lawmakers and Assembly staff who spoke without inhibition applauded Meranda over how she led the House within the 49 days she was the speaker of the House, saying reversing the situation was a return to a reign of tyranny in the Assembly.
Before her resignation, Meranda who was the first female speaker of the state, and Obasa had earlier held a meeting with lawmakers, with Lawal Pedro, the Lagos State attorney general, and Pastor Cornelius Ojelabi, the chairman of the All Progressives Congress (APC) in Lagos, in their midst.
Meranda was reappointed as the Deputy Speaker, while Mudashiru Obasa took the oath of Office as the Speaker. Also, Hon Sanni Okanlawon resigned as the Deputy Chief Whip, while Hon Setonji David resigned as the Chief Whip.
In the meantime, Hon. David was reelected as the Deputy Chief after being nominated by Hon. Kehinde Joseph. Hon. Richard Kasunmu returned as the Deputy Majority Leader, while Hon. Adewale Temitope retained the position.
Similarly, Deputy Speaker Mojeed Fatai resigned and was elected as the Chief Whip. Meranda returned as the new deputy speaker.
With this development, Meranda served as the Speaker for 49 days before bowing to the All Progressives Congress (APC) party supremacy principle.
LEADERSHIP gathered that the development was decided at the strategic meeting of the Governance Advisory Council (GAC) with members of the House on Sunday. (Leadership)
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