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Lagos govt achieved N346bn revenue target – Commissioner

The Lagos State Government has disclosed that the state has achieved 80 per cent of revenue in the 2022 budget which was described as a strong budget performance.
The state Commissioner for Economic Planning and Budget, Mr Sam Egube, said this, according to a statement on Wednesday, during a five-day consultative forum to prepare for the 2023 budget in Lagos.
He said, “Our state achieved 80 per cent of revenue and that was quite phenomenal especially considering the challenges that we face as a country.
“Looking at the total Internally Generated Revenue, we have N346bn compared to N451bn, achieving 77 per cent performance; total budget out of an expectation of N880bn, we have spent about N675bn, achieving 77 per cent performance.
“It is our aspiration that we would move this performance as we move into the second quarter to rev it up to over 80 per cent. You will note that over the last three years, our state has achieved very strong budget performance in the neighbourhood of over 80 per cent and that is something we would continue to drive, irrespective of the challenges that we face as a nation.”
In his address, the Special Adviser to the Governor on Economic Planning and Budget, Adebayo Sodade, said, “This forum will afford us an avenue to update stakeholders on the half-year performance of the budget, the resources available for the annual budget taking into cognisance all economic variables such as the price of oil, inflation, interests rates, and the national security challenges.”

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