Lagos rakes in N127bn IGR Q1 2021

Lagos rakes in N127bn IGR Q1 2021

Lagos rakes in N127bn IGR in Q1 2021     Lagos State government (LASG) has said it generated a total of N127 billion in the first quarter of 2021. The government of Nigeria’s commercial capital ascribed the feat to proactiveness and preventing leavages in the system despite the ravaging effects of the coronavirus pandemic on the state. The State Commissioner for Finance, Dr Rabiu Olowo, who made the disclosure recently pointed out added that the achievement was not accidental, but rather, due to a well thought out strategy, partnerships and…

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Lagos State targets N962bn IGR to fund N1.155trn 2021 budget

Lagos State targets N962bn IGR to fund N1.155trn 2021 budget

Governor Babajide Sanwo-Olu of Lagos, Nigeria’s economic and financial capital, on Tuesday presented the N1.155 trillion 2021 Proposed what he tagged “Budget of Rekindling Hope,” before the State House of Assembly. The spending plan, expected to propel the restoration of economic balance and “help the state navigate its way out of the negative impact of the Coronavirus (COVID-19) pandemic and the destruction of public assets, following the EndSARS protest hijack.” A breakdown of the proposed budget showed that funding will be significantly through Internally Generated Revenue (IGR), which is projected…

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36 states, FCT’s IGR drops 11.7% to N612.87bn in H1 2020

The 36 Nigerian states and the Federal Capital Territory (FCT) suffered collective decline in their Internally Generated Revenue (IGR) in the first half of this year. According to the latest report by the National Bureau of Statistics (NBS) released on Tuesday, the states’ IGR dropped by 11.7 per cent to stand at N612.87 billion within the six-month period under review as against N693.91 billion recorded in the comparative period of 2019. “The 36 states and FCT IGR figure hits N612.87bn in H1 2020 compared to N693.91bn recorded in 2019. This…

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