Lagos to increase monthly IGR to N30b by 2017
The Lagos State Government yesterday announced its readiness to reduce dependence on federal allocation and increase the Internally Generated Revenue (IGR) to N30 billion monthly in 2017 and N50 billion monthly in 2018.
The state also announced an annual budget target size of N1 trillion by 2018.
Rising from a four-day retreat for members of the State Executive Council, Body of Permanent Secretaries and Heads of Government Agencies and Parastatals held at the VIP Chalets in Badagry under the theme, Reflect, Reappraise, Re-strategize: Raising the Bar of Governance, the State Government said it had resolved to scale up and run efficient revenue collection machinery through the convergence of the Ministries, Departments and Agencies’ operations and utilization of cutting edge technologies.
In a communiqué on the retreat jointly read to journalists by the state Commissioner for Information and Strategy, Mr Steve Ayorinde; Commissioner for Economic Planning and Budget, Mr Akinyemi Ashade and the Permanent Secretary in the Ministry of Information, Mr. Fola Adeyemi, the government said participants intensively deliberated on the six pillars of Lagos State Development Plan (LSDP) which are infrastructural development, sustainable environment, finance, economic development, social development and security and governance.
On the IGR plan, Ashade said though the target was ambitious, appropriate measures were being adopted to achieve it.