2024: Lagos hits N300bn IGR in first quarter, targets N800bn 

Lagos state Commissioner for Economic Planning and Budget, Mr Ope George, has said the state budget for year 2024 is doing well, crediting the performance with the increase in the internally generated revenue (IGR), which hit over N300 billion in the first quarter of 2024

Speaking at a press briefing organised to mark the first year of the second term of Governor Babajide Sanwo-Olu in office, the commissioner noted that, year in year out, the state has been doing better in budget planning and performance.

He explained that the state started slowly but latter improved, particularly in the area of IGR wherein the state realized N300 billion in the first quarter of the year. He disclosed that the state intends to generate N800 billion for the year.

According to him, “You hear sometimes when they say Lagos is one of the largest economies in Africa and truly, it’s not static, we will continue to move based on what’s going on in the world.

“As we speak now, I believe that we are currently ranked 7th in terms of GDP in Nigeria.

“We contribute at least a minimum of over 20 percent of Nigeria’s GDP and you will find out that over a period of review, during the first term of Mr Governor, we are moving in the right direction and I think our GDP has moved from about 27 to 41 trillion. Everything shows that our indices are climbing in the right direction despite all the shocks and all the problems we have witnessed in the past over the last couple of years,” he said.

Mr George noted that as an effective and efficient government that holds its workforce in high esteem, “the ministry believes that for all our achievements and the task ahead, there is need for continuous human capital development to strengthen research, analysis, evaluation, direction setting and policy formulation.

“This led to the coordination of several individual and collective trainings that cut across all the Departments and Units within the Ministry.”