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Lagos State released its financials for the period Q1 2020, revealing an actual revenue of ₦282.6 billion for the quarter, 101% higher than the actual revenue of Q1 2019 which had been ₦140.7 billion. This was also 6% higher than the budget for 2020 which stood at ₦267.8 billion. Attributed to the breakdown were ₦100.3 billion on internally generated revenue, ₦141 billion on capital receipts, and ₦41.2 from federal transfers.

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This Budget Performance Report for the fourth quarter, 2020 provides information on activities and performance of the budget. It provides financial information and offers some insights into the contexts and experiences that have aided the achievement of goals or presented challenges to realising desired outcomes.

Importantly, the Ministry of Economic Planning and Budget (MEPB) has been working hard to lay the foundations necessary to ensure improvements in our approach and activities. This will ensure optimal performance of the Ministry’s oversight function, and the implementation of sound recommendations informed by a variety of factors including lessons learnt from our engagements and the broader external context.

The Ministry is committed to providing information to all our stakeholders in a manner that empowers decision makers, increases confidence and promotes active engagement of readers and the larger community.

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Lagos State released its financials for the period Q1 2020, revealing an actual revenue of ₦282.6 billion for the quarter, 101% higher than the actual revenue of Q1 2019 which had been ₦140.7 billion. This was also 6% higher than the budget for 2020 which stood at ₦267.8 billion. Attributed to the breakdown were ₦100.3 billion on internally generated revenue, ₦141 billion on capital receipts, and ₦41.2 from federal transfers.

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The Governor’s Committee on Lagos Water visited Adiyan I Water Plant in a bid to evaluate its operations while also proffering ways to improve its services to the increasing population of Lagos state.

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Towards attaining the development of Lagos State as a preferred investment destination and as a Mega City in its own right, the Sanwo-Olu led administration has employed a myriad of strategies to foster the development of the state. Despite the economic constraints of the period, a range of projects cutting across several industries particularly as part of the state’s T.H.E.M.E.S agenda have been ventured into. One of such strategies is its use of multilateral and governmental partnerships. While this has been carried out across several sectors, some of the largest gains have been made in the transportation sector.

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