The Lagos State Government on Tuesday said its internally generated revenue for the first quarter of Y2018 stood at N103.476billion, as against N96.7billion recorded in the previous year, thereby accounting for 81 per cent of the total revenue of N141billion generated in the quarter.
Commissioner for Economic Planning and Budget, Mr. Segun Banjo who disclosed this during the annual Ministerial Press Briefing to mark the third year in office of Governor Ambode’s administration held at the Bagauda Kaltho Press Centre in Alausa, said the records so far shows that the performance of the State’s Y2018 budget of N1.046trillion was heading in the right direction.
Giving a breakdown of the figures, the Commissioner said the budget performance for the first quarter has a pro-rata size of N261.530billion and in absolute term, it had performed N163.491bn, compared with N120.206billion reported for the same period in Y2017.
In terms of revenue generation, Banjo said that the sum of N141billion (63 per cent) was generated as Total Revenue against N124.141billion (77 per cent) achieved in 2017, adding that this year’s first quarter performance was N17.816billion higher than the previous year’s performance in absolute terms.
