Lagos State Generates N101.69 Billion Revenue In First Quarter Of 2016
Nairametrics
The Lagos State government has confirmed that it generated a sum of N101.69billion in revenue in the first quarter of this year.
It generated a revenue if N97.28 billion in the first quarter of 2015 representing a 4.5% growth year on year
The state also reported that it recorded a surplus of N4.85billion compared to a projected N29.92billion deficit
This information was confirmed by the State’s Commissioner for Economic Planning and Budget, AkinyemiAshade
He disclosed this at the ongoing Ministerial Press Briefing at the Bagauda Kaltho Press Centre, Alausa, Ikeja to commemorate Governor Akinwunmi Ambode’s first year in office
Giving a detailed breakdown of the budget performance, the Commissioner said N76.06billion was the Internally Generated Revenue (IGR) of the state in the first quarter representing 72 per cent of the estimate for the quarter and 75 per cent of the total revenue, as against the N67.21billion generated in first quarter of last year representing 74 per cent of the estimate and 69 per cent of the total revenue in the corresponding period for last year.
He said the Lagos Internal Revenue Service (LIRS) revenue for the first quarter this year stood at N67.25billion representing 90 per cent estimate for the quarter; 88 per cent of the total IGR and 66.12 percent of the total revenue, compared to N60.58billion (87 per cent of the estimate for first quarter last year), representing 90 per cent of total IGR and 62 per cent of total revenue last year.
