Monday, 25 July 2016

Lagos Budget To Hits 1 Trillion in 2018



The Lagos State Government yesterday announced that by 2018, its yearly budget size will hit N1 trillion while it would increase its Internally Generated Revenue (IGR) to N30billion monthly in 2017 and N50 billion monthly in 2018.



The government, which described the plan as strategic target to massively reduce its dependence on federal allocation, said it has resolved to scale up and run efficient revenue collection machinery through the convergence of the Ministries, Departments and Agencies (MDAs’) operations and utilization of cutting edge technologies. In a communiqué issued at the end of a fourday retreat for members of the State Executive Council, Body of Permanent Secretaries and heads of government agencies and parastatals in Badagry the government said it was poised to lifting the state to a new level.

it was gathered that retreat with the theme “Reflect, Reappraise, Restrategise: Raising the Bar of Governance”, reviewed the policies of Governor Akinwunmi Ambode-led administration and its impact on the residents as well as emerging challenges in the state.
At the retreat, participants intensively deliberated on the six pillars of Lagos State Development Plan (LSDP) which included infrastructural development, sustainable environment, finance, economic development, social development and security and governance.

According to the communiqué, which was jointly read to journalists by the State’s Commissioner for Information and Strategy, Mr Steve Ayorinde; Commissioner for Economic Planning and Budget, Mr Akinyemi Ashade and the Permanent Secretary in the Ministry of Information, Mr. Fola Adeyemi, the government assured residents of more developmental strides.


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