Internally Generated Revenue: Lagos State Contributes 32 Percent of Nigeria’s Total IGR in 2020

Lagos State contributed N428.98 or 32.08 percent of the total N1.3 trillion Internally Generated Revenue (IGR) realised by the Federal Government in 2020, according to Sam Egube, the Commissioner for Economic Planning and Budget, Lagos State.

Egube, who spoke at the ministerial press briefing to mark the second anniversary of Governor Babajide Sanwo-Olu on Thursday, said the figures were reported by the National Bureau of Statistics (NBS).

This, he said, is why Lagos State is the highest contributor to Federal Purse.

Egube said: “This report shows that we are on course. It is clear proof that the ‘THEMES AGENDA’ of the Governor Babajide Sanwo-Olu-led administration is an operational tool that is correctly aligned to our long-term development plan, and hooked up into our Medium Sector Strategy.”

“The THEMES AGENDA remains strong, and all its elements remain relevant. Even in the heart of the pandemic, the pillars held through. It was like Mr. Governor saw the future, despite the headwinds that came against the pillars, such as the health pandemic and the economic downturn, which lead to a revised budget and other tactical maneuvers against the COVID-19 pandemic.”

Speaking on the Lagos State Development Plan (LSDP), the commissioner said the LSDP, which encompasses the State Economic Development Policy and guided by the State Development Plan (2012-2025), has been upgraded and expanded to a 30-year Development Plan (2021-2051).

“This new perspective plan is necessary to ‘encourage citizens participation (Build Team Lagos); develop our people to drive productivity and protect the vulnerable (Building our Future); drive Lagos readiness and openness for Business (Building our Economy); optimising relevant infrastructure to support our growth (Building our 21st Century Mega-City) and engaging intergovernmental partnership; all these are aimed at improving the quality of lives of Lagosians.

“The LSDP sits at the apex of the planning and budgetary system of the state. The document provides an overall direction for the growth and development of Lagos State. It also provides a framework through which all sectors of the economy can direct their energies and contribute to the improvement of the quality of life of people,” Ebube stated