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Lagos State government, on Thursday, said it is targeting a total of N723.817bn Internally Generated Revenue (IGR) for the 2021 fiscal year, bringing the monthly figure to N60.31bn.
The State Commissioner for Economic Planning and Budget, Mr Sam Egube, disclosed this while giving the 2021 budget breakdown at a press briefing which took place at Alausa, Ikeja, saying the state had earmarked N15bn for the Rebuilding Lagos Project/Trust Fund, in the aftermath of #EndSARS destruction of Lagos in October 2020.
Egube disclosed that the total size stands at ₦1.164trn, saying it would be funded from a total revenue estimate of ₦971.028billion, comprising total Internally Generated Revenue of N723.817bn, with Capital Receipts standing at N71.811bn, while Federal Transfer is projected at N175.400bn.
By Rukayat Moisemhe/Florence Onuegbu
Lagos, Jan. 7, 2021 The Lagos State Government has indicated a monthly target of N60.318 billion Internally Generated Revenue (IGR) to fund the 2021 budget.
Speaking during a media briefing on the Analysis of the Year 2021 Budget at Alausa, Ikeja, the Commissioner for Economic Planning and Budget, Mr Sam Egube, said that the budget size was N1.164 trillion.
Egube said the budget was made up of N702.935 billion for Capital Expenditure and N460.587 billion for Recurrent Expenditure.
He disclosed that the expected Total Internally Generated Revenue (TIGR) for Year 2021 is N723.817 billion, with N60.318 billion to be generated monthly.