The Lagos State Government in its second quarter 2012 budget performance announced it collected N113.7b in Internally Generated Revenue for the first 6 months of 2012. That was up N11.4b at the same period in 2011. The figure also averages N18.9b a month, lower than the N23b that you mostly see in queries from search engines. The figure is also 79% against budget which was put at N144b. The Lagos State Internal Revenue as expected generated the most – N91b or 87% of this amount. See below;
Total Revenue for the state was N170b less than N199b budgeted or more than the n152b same period in 2011. With a 2006 population (as at 2006) of 17,552,942 Lagos State IGR comes to about N6,477.55 per Lagosian. The report also showed Lagos State had a total recurrent expenditure of N102.8b with N37b incurred on personal cost alone.
5 year comparison