The Lagos State Government generated a total revenue of N101.69bn in the first quarter of 2016 out of which a surplus of N4.85bn was realized as against an expected N29.92bn deficit, the State’s Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade said on Monday
Speaking at the ongoing Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja to commemorate Governor Akinwunmi Ambode’s first year in office, Ashade said the generated revenue was above that of 2015 which stood at N97.28bn in the first quarter, adding that in absolute terms, the revenue performance was N4.4bn more than comparative period of 2015.
Ashade said the remarkable feat was achieved despite the diminishing statutory allocation from the federation account, adding that same was due to Governor Ambode’s purposeful and visionary leadership.
He expressed optimism that with the implementation of multiple revenue collection channels and broadening of the revenue base, the state government would achieve tremendous progress in its revenue drive.
