(Date: 19 July, 2021)
The Lagos State Ministry of Economic Planning and Budget released the Q1 2021 Budget Performance Report for Lagos State, providing insights into the State’s performance over the period. Top on the list of its feats is its Internally Generated Revenue which stood at ₦128.2 billion, about 28% higher than its Q1 2020 IGR of ₦100.3 billion. The increased figure shows the continued efforts of the government to optimally leverage available resources to fund its development as opposed to relying on federal allocations. This also attests to its fiscal stability as well as its ability to withstand economic shocks.