Speaker, Lagos State House of Assembly, Mudashiru Obasa, said the 2026 budget retreat would equip legislators and senior assembly staff with deeper fiscal insight for a more transparent and inclusive budget.

He spoke on Thursday while delivering the welcome address at the Assembly’s three-day retreat on the 2026 Budget and Related Matters.

Gov. Babajide Sanwo-Olu, on Tuesday, presented a budget proposal of N4.237 trillion titled ‘Budget of Shared Prosperity’ to the Lagos assembly.

The three-day retreat, titled ‘Understanding the 2026 Appropriation Strategy,’ examines the 2025 budget performance and emerging implementation gaps.

It covers Nigeria’s new tax regime, the legislature’s fiscal responsibilities, and the economic implications of the Tax Acts on Lagos State.

Other sessions include discussions on state debt sustainability, bonds, ISPOs, interest costs, and an overview of the 2026–2028 Medium-Term Expenditure Framework.

The retreat also focuses on strengthening legislative oversight to enhance effective budget implementation across the state.

Mr Obasa said the programme was designed to deepen lawmakers’ understanding of the state’s fiscal direction and improve their oversight capacity.

He urged legislators to ensure the 2026 Appropriation Bill reflects residents’ needs, stressing that public office has meaning only when it delivers real impact.

He said the proposed budget reflects the people’s priorities, adding that lawmakers must identify challenges and ensure solutions receive proper funding.

According to him, the governor has presented a proposal rooted in shared prosperity and broad development goals.

Mr Obasa said the assembly must now “add value” by ensuring the budget addresses critical issues and aligns with citizens’ aspirations.

He stressed that the budget must capture the people’s priorities and that lawmakers must identify problems and fund practical solutions.

Mr Obasa also reminded legislators of their duty to maintain strong ties with their constituencies and remain responsive to public concerns.

He urged lawmakers to give constituents a sense of belonging, noting that every office holder eventually returns to the people.

Mr Obasa advised committee chairmen and members to study their allocations carefully and ask critical questions throughout the budget process.

He added that budgeting was a projection that must be backed by accountability, transparency, and measurable performance.

The speaker highlighted some achievements in his Agege 01 constituency and encouraged legislators to build a solid path for future leaders.

An economist, Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, delivered further insights during his presentation.

Mr Yusuf said the retreat includes a syndicate session where lawmakers will review the 2026–2028 MTEF documents and raise issues for deliberation.

 (NAN)