The Lagos State House of Assembly has approved a total budget of ₦4,444,509,776,438
(Four Trillion, Four hundred and Forty Four Billion, Five Hundred and Nine Million, Seven Hundred and Seventy-Six Thousand, Four Hundred and Thirty Eight naira) for the 2026 fiscal year.
The approval was granted during a plenary session held on Thursday, January 8, following the presentation of a comprehensive report by the Chairman of the House Committee on Economic Planning and Budget, Hon. Sa’ad Olumoh.
The session, presided over by the Speaker, Rt. Hon. Mudashiru Obasa, saw lawmakers adopt the report through a voice vote, signaling unanimous support for the financial plan aimed at driving sustainable development across the state.
The 2026 budget prioritises infrastructure development, education, healthcare, economic growth, and social welfare, with over 52% allocated to capital projects. This strategic allocation underscores the government’s commitment to inclusive growth and improved quality of life for residents of Lagos State.
Following the passage, Speaker Obasa directed the Clerk of the House, Barr. Olalekan Onafeko, to transmit a clean copy of the approved bill to Governor Babajide Sanwo-Olu for assent. The Speaker commended members of the Assembly for their diligence and collaborative efforts in ensuring the timely passage of the budget.
It will be recalled that Governor Sanwo-Olu had presented a budget proposal of ₦4.23 trillion to the House on November 25, 2025, which he termed ‘Budget of Shared Prosperity.”
The governor declared then that the budget reflects Lagos State’s vision to strengthen its position as a leading economic hub in Africa through robust investments in critical sectors that foster growth, innovation, and social progress.
Fresh concerns have emerged over compliance with a court order issued by the High Court of Kano State on April 8, 2026, restraining key parties—including the Honourable Minister of Education, the Kano State Ministry of Land and Physical Planning, the Kano State Urban Development Authority, and Pluck Global Company Limited—from further actions pending the determination of the matter before the court.
Findings indicate that while all parties—except the concessionaire, Pluck Global Company Limited—were duly served within two days of the order, significant challenges were encountered in effecting service on the company, raising troubling questions about its corporate traceability and regulatory vetting.
A review of the company’s records filed with the Corporate Affairs Commission (CAC) revealed addresses that could not be verified as functional business locations. Notably, documentation submitted to Federal Government College (FGC), Kano, dated June 20, 2024, listed two addresses: 8B, Lalupon Street, off Keffi Street, off Awolowo Road, Ikoyi, Lagos, as its head office, and 3 Bargery Road, Bompai, Kano, as its branch office.
However, a physical visit to the Ikoyi address revealed that the entire property is occupied by a company identified as Golden Alchemy, whose staff категорically denied any knowledge of, or shared occupancy with, Pluck Global Company Limited.
Efforts to trace the Kano address yielded even more unsettling findings. The location—a locked duplex—showed no visible signs of commercial activity. Neighbours, while reluctant to speak on record, alluded to irregular movements at odd hours, casting further doubt on the legitimacy of the premises as a corporate office.
In a twist, after multiple attempts to establish contact, an individual purportedly representing the company surfaced in Kano and agreed to receive and acknowledge the court order on April 11, 2026, at approximately 6:00 pm. Curiously, the Ikoyi address—already discredited—was again listed as the company’s official address in the acknowledgment.
These developments raise critical questions regarding due diligence and Know Your Customer (KYC) protocols on the part of the Federal Ministry of Education. They also cast a spotlight on the Infrastructure Concession Regulatory Commission (ICRC), should a concession agreement indeed have been executed with the company. Stakeholders say it would be instructive to review the addresses contained in all official correspondences and contractual documents linked to the transaction.
Meanwhile, a visit to the premises of Federal Government College, Kano, revealed ongoing construction activity, with workers observed excavating foundations. When approached, the workers declined to disclose the authority under which they were operating—despite the subsistence of a court order restraining further action.
Notably, a previously installed project billboard bearing the insignia of the school authorities and the Federal Ministry of Education had been removed. Sources within the institution suggest that the directive for its removal may have emanated from the Ministry following receipt of the court order.
The unfolding situation presents a complex mix of legal, regulatory, and accountability issues—raising the spectre of possible non-compliance with judicial directives, as well as deeper concerns about transparency in public-private concession arrangements.