Naijaonpoint
Governor Babajide Sanwo-Olu signed the 2026 “Budget of Shared Prosperity”, the largest subnational budget in Nigeria’s history, at N4.44 trillion. Six months in, the state’s own quarterly spending records give the first account of the year: N1.54 trillion spent, 34.6% of the annual figure, with N772.64 billion of it on capital. Five installments of this series examined those figures line by line by SecretsReporters and this is what they contain.
The concentration is the first finding. In the first quarter of 2026, a single road, the Lekki-Epe Expressway, absorbed N79 billion, 62.8% of its full-year provision, then took N273.3 million in the second quarter. Across all 690 project lines in the quarterly reports, not one names a contractor. The state’s procurement register for 2026 is empty.
The governor’s office is the second findin with N139.29 billion approved, the largest governor’s-office vote in Nigeria, with N45.04 billion released in six months. Inside it: N66.58 billion in capital with no projects named anywhere, N13.52 billion in overhead with no sub-lines published, N3.85 billion in “other expenditure” with no published breakdown of what “other” contains. The Chief of Staff’s office spent 79.7% of its annual vote by June, exhausting 99.1% of its “other expenditure”. The Deputy Governor’s welfare line stands at N2.23 billion which is 76% of his overhead.
The announcements are the third finding. A €410 million waterway announced, with no construction seven months later. A rail extension contracted at a ceremony two years ago, with no construction trace since and a N39.99 billion through an “intervention fund” with no attributable works. N23 billion for “resilient cities” with no project attached and N14.48 billion for top-management vehicles with no tender and no delivery record.
The elite spending is the fourth. N5 billion for the Abuja lodge renovation, N2.19 billion of it in a single quarter. Sanwo-Olu is also spending Lagosians N7.31 billion to mold monuments and statues and N6 billion for a heritage centre. The budget contains no Government House clinic but ready to lavish N1.85 billion for his international medical treatment.
N4.44 trillion was promised to be spent in the budget with Sanwo-Olu spending N1.54 trillion in six months but no records show who received it.
Source: …Secretsreporters