₦airaland Forum

Says N50bn Revenue Target By 2019 Still On Course

…Receives N327m From 13% Oil Derivation


The Lagos State Government on Monday said that it has so far achieved an average monthly Internally Generated Revenue (IGR) of N34billion in 2018 compared to monthly averages of the last three years. R-L: Commissioner for Finance, Mr. Akinyemi Ashade; Special Adviser to the Governor on Taxation & Revenue Matters, Mr. Olalekan Lasisi; Permanent Secretary, Ministry of Finance, during a media conference by the Ministry of Finance as part of the on-going Y2018 ministerial briefing to mark the third Year in Office of Governor Akinwunmi Ambode, at the Bagauda Kaltho Press Centre, the Secretariat, Alausa, Ikeja, on Monday, May 21, 2018.


Commissioner for Finance, Mr. Akinyemi Ashade who disclosed this at the ongoing annual Ministerial Press Briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration held at Bagauda Kaltho Press Centre in Alausa, attributed the gradual improvement to the impact of the ongoing reforms and growth in the State’s economy. He said, “Notably, we are recording gradual improvement in our average monthly IGR in 2018 compared to the levels achieved in previous years due to the impact of ongoing reforms and growth in the State’s economy. Based on our first quarter results, Lagos State has so far achieved an average monthly IGR of N34billion in 2018 compared to monthly averages of N22bn, N24bn and N30bn in 2015, 2016 and 2017 respectively.”

The Commissioner expressed optimism that the IGR would continue to rise even further as the State continues to implement the various reforms, driven by wider technology adoption and innovation, adding that the target to grow the State’s IGR to N50bn by next year was well on course. “The target we set for ourselves is N50billion but we all know the kind of push backs we have experienced including people going to court and all that. Our commitment is not for now, its for the future of Lagos. We know it’s a marathon, we would win some and we would lose some, but we are very committed towards ensuring that we meet the target, but if we don’t meet it this year, definitely there would be another year, but we believe we would succeed in that target we set for ourselves,”

Ashade said. On Federal Transfers, he said since Lagos joined the league of oil producing State, the Government had received a total of N327million revenue, comprising N197million and N130million received in 2017 and first quarter of 2018 respectively. “Furthermore, we are in ongoing discussions with the Federal Government towards obtaining a refund for expenditure totalling N51billion that was incurred by the State Government on behalf of the Federal Government for infrastructure projects developments in the State.

We are optimistic of successful discussions that will result in the approval and payment of the amount owed to the State Government by the Federal Government,” he said. Giving an update on the State’s Debt Profile, Ashade said the Government’s debt stock, comprising 48 per cent local debt and 52 per cent foreign debt currently stood at N874.38billion at the end of 2017 while the debt service charge to total revenue ratio which stood at 17.61 per cent was still within the World Bank threshold of 30 per cent. The Commissioner said the State Government has continued to maintain a positive credit rating, however, adding that a downgrade of Nigeria’s sovereign rating would lead to a corresponding action on Lagos’ international drawing rights.


“As Nigeria continues to improve on its credit rating, we would be able to achieve better rating as we currently have because no amount of revenue generation, no amount of employment growth of Lagos State can make us surpass to surpass the sovereign rating,” he said.



He, however, said that the State Government has taken some strategic steps to help Nigeria improve on its ratings including adhering to fiscal discipline, improved revenue generation, reforms in infrastructure development, transport and embedded power. Giving an update on the revised Land Use Charge (LUC), Ashade said the State Government has continued to engage critical stakeholders in line with its tradition of inclusive governance, adding that a wide range of response have been received.

He said the extensive discussions led to several concessions on Land Use charge for property owners across board, adding that a revised bill to further amend the LUC Law to incorporate the additional concessions was presently before the House of Assembly and would be passed soon. Besides, the Commissioner said the Government through the LUC Assessment Appeal Tribunal, received a total of 1,503 complaints, out of which 1,113 were successfully resolved administratively and through mediation, adding that an additional 263 property owners/agents had their grievances resolved in the last two weeks and more still ongoing. Ashade also urged residents to continue to support the government by fulfilling their civic duty of paying their taxes and remitting all taxes collected on behalf of the Government as and when due, assuring that the present administration was committed to maintaining financial accountability and transparency for the overall development and prosperity of the State. Related

Read more at: https://www.vanguardngr.com/2018/05/993509/

Lalasticlala

hmm

So Lagos is also Niger Delta now.

That is good,

That means buhari has done well

What Lagos is generating in a month is what Ekiti generates in 10 years. And yet Ekiti is bigger than Lagos in Landmass.

Still there is nothing fascinating about infrastructure in Lagos that equals the Igr profile. Ah! I may not vote Ambode next year.

HigherEd:
What Lagos is generating in a month is what Ekiti generates in 10 years. And yet Ekiti is bigger than Lagos in Landmass.

Still there is nothing fascinating about infrastructure in Lagos that equals the Igr profile. Ah! I may not vote Ambode next year.

lol,who cares about your vote? ambode is getting re-elected in a landslide with or without your vote.

p.s. ambode is by far the best governor in nigeria

HigherEd:
What Lagos is generating in a month is what Ekiti generates in 10 years. And yet Ekiti is bigger than Lagos in Landmass.

Still there is nothing fascinating about infrastructure in Lagos that equals the Igr profile. Ah! I may not vote Ambode next year.

Was it Ambode that generated the revenue or it's the masses? The comparison you drew between Lagos State and Ekiti is a lame one. Lagos State is the commercial hub of Nigeria, so it's expected.

What is Tinubu's percentage?

moufan:
lol,who cares about your vote? ambode is getting re-elected in a landslide with or without your vote.

p.s. ambode is by far the best governor in nigeria

I don't care whether you care about my vote either. My vote is my voice and I insist that LASG isn't doing enough for what it earns.

It is stupid to say one governor is the best in Nigeria. They don't earn same therefore cannot be judged in the same manner unless we are talking about policy enactment and all that.

34 billion a month is more than what 30 state in Nigeria earn combined in a month, for a Lagos state that is just the size of Ibadan in landmass. Clearly there is huge scam going on somewhere if not Lagos should look like a Johannesburg right now. People should be intelligent to know where to demand for better. And Lagos is certainly one state where people need to demand for better...

buhariguy:
So Lagos is also Niger Delta now.

That is good,

That means buhari has done well

Na so we see am o

HigherEd:
I don't care whether you care about my vote either. My vote is my voice and I insist that LASG isn't doing enough for what it earns.

It is stupid to say one governor is the best in Nigeria. They don't earn same therefore cannot be judged in the same manner unless we are talking about policy enactment and all that.

then why are you comparing lagos,the commercial centre of nigeria,lagos with a population of over 20 million with ekiti whose population is less than 3 million and a farming state. they are both incomparable

HigherEd:
I don't care whether you care about my vote either. My vote is my voice and I insist that LASG isn't doing enough for what it earns.

It is stupid to say one governor is the best in Nigeria. They don't earn same therefore cannot be judged in the same manner unless we are talking about policy enactment and all that.

Lagos state has the least landmass and therefore should have the best of roads as roads length are largely a function of landmass.People don't rate what is done with what is given. Most times these people are cyber political jobbers and party-blind supporters.

Stale news. Op, you only have one vote so you have a right to vote for whoever you like. Not everybody will vote for Ambode which is fine and well. But I hope you are not expecting to sway others with this your veiled campaign of calumny because it will surely fail. Lagos is way too overpopulated with its infrastructure already overstretched. In spite of that it is still the most progressive and developed state in the country thanks to the visionary and innovative quality of its successive leadership since '99. Rivers, Akwa Ibom, Delta, and Baylesa receive more allocation than Lagos, yet there's nothing fantastic happening there, while Lagos has had to reinvent itself (since it was neglected to die a slow death after it ceased being an FCT more than 25-years ago) by shoring up its IGR while depending lesser and lesser on federal allocation, building entirely new cities (e.g, Eko Atlantic city, amongst others), regenerating its infrastructure, building an intercity lightrail metro-system, e.t.c. No opposition party or candidate has so far come up with or articulated a better blueprint on how to take Lagos higher than it has witnessed since '99, but you are still free to exercise your franchise by voting whomever you please. But the REAL Lagosians know how far the city has come and will continue to speak with their votes.

moufan:
then why are you comparing lagos,the commercial centre of nigeria,lagos with a population of over 20 million with ekiti whose population is less than 3 million and a farming state. they are both incomparable

They may be incomparable but can always be rated by what the have vs what they achieve. Lagos' achievement has a huge room for improvement.
As a port state in a mushroom indrustialized country it has the unique advantage of housing industries. This is because most industries in Nigeria are mere packaging plants and not manufacturers. This means 'industries' in Lagos have easy access to their semi finished products they are packaging.

afroniger:
Stale news. Op, you only have one vote so you have a right to vote for whoever you like. Not everybody will vote for Ambode which is fine and well. But I hope you are not expecting to sway others with this your veiled campaign of calumny because it will surely fail. Lagos is way too overpopulated with its infrastructure already overstretched. In spite of that it is still the most progressive and developed state in the country thanks to the visionary and innovative quality of its successive leadership since '99. Rivers, Akwa Ibom, Delta, and Baylesa receive more allocation than Lagos, yet there's nothing fantastic happening there, while Lagos has had to reinvent itself (since it was neglected to die a slow death after it ceased being an FCT more than 25-years ago) by shoring up its IGR while depending lesser and lesser on federal allocation, building an entirely new city (e.g, Eko Atlantic city, amongst others), regenerating its infrastructure, building an intercity lightrail metro-system, e.t.c. No opposition party or candidate has so far come up with or articulated a better blueprint on how to take Lagos higher than it has witnessed since '99, but you are still free to exercise your franchise by voting whomever you please. But the REAL Lagosians know how far the city has come and will continue to speak with their votes.

I am not on any campaign of calumny as you have alluded to. As a matter of fact I believe Fashola remains the best governor of all time in Nigeria. However, I disagree with your version of how Lagos reinvented herself.

Lagos reinvented herself because her people are enlightened and know to ask for better. The political elites in Lagos knew it would be a matter of time till Lagos actually rebels so they started throwing crumbs. But don't be deceived the average Lagos politician is still as corrupt as those you would see far down south and this is why we must continue to put them on their toes and really evaluate their performances.

The error of the people always start when you think a leader is too good to be kicked out. If you want Lagos to succeed then you better stop your loyalty to her govt or the tinubu dynasty..

CodeTemplar:
They may be incomparable but can always be rated by what the have vs what they achieve. Lagos' achievement has a huge room for improvement.
As a port state in a mushroom indrustialized country it has the unique advantage of housing industries. This is because most industries in Nigeria are mere packaging plants and not manufacturers. This means 'industries' in Lagos have easy access to their semi finished products they are packaging.

Let us render advice to at least one state in the country that is performing to enable them do more and improve. You don't change a winning team. Lagos economy is what is making Nigeria to look like a country with economy otherwise we would have been on a "long thing". Lagos people are very hard-working and it is their efforts that is sustaining this country compare to those of us "lazy ass" in Abuja always feeding on federal coffers. Thumbs up for Lagos. I expect Rivers, Ogun and Anambra to join this elite league operating as autonoumous economies within a soverign system.

afroniger:
Stale news. Op, you only have one vote so you have a right to vote for whoever you like. Not everybody will vote for Ambode which is fine and well. But I hope you are not expecting to sway others with this your veiled campaign of calumny because it will surely fail. Lagos is way too overpopulated with its infrastructure already overstretched. In spite of that it is still the most progressive and developed state in the country thanks to the visionary and innovative quality of its successive leadership since '99. Rivers, Akwa Ibom, Delta, and Baylesa receive more allocation than Lagos, yet there's nothing fantastic happening there, while Lagos has had to reinvent itself (since it was neglected to die a slow death after it ceased being an FCT more than 25-years ago) by shoring up its IGR while depending lesser and lesser on federal allocation, building entirely new cities (e.g, Eko Atlantic city, amongst others), regenerating its infrastructure, building an intercity lightrail metro-system, e.t.c. No opposition party or candidate has so far come up with or articulated a better blueprint on how to take Lagos higher than it has witnessed since '99, but you are still free to exercise your franchise by voting whomever you please. But the REAL Lagosians know how far the city has come and will continue to speak with their votes.

nice one

CodeTemplar:
Lagos state has the least landmass and therefore should have the best of roads as roads length are largely a function of landmass.People don't rate what is done with what is given. Most times these people are cyber political jobbers and party-blind supporters.

Exactly! With 34 billion a month we can't boast of entirely good roads. We can't boast of a world class state funded university, we can't boast of a singular world class hospital yet we are still heavily indebted. The state is still dirty and some folks want us to be celebrating.

True, certain things have improved but we are asking for more and we deserve to get more!

HigherEd:
I am not on any campaign of calumny as you have alluded to. As a matter of fact I believe Fashola remains the best governor of all time in Nigeria. However, I disagree with your version of how Lagos reinvented herself.

Lagos reinvented herself because her people are enlightened and know to ask for better. The political elites in Lagos knew it would be a matter of time till Lagos actually rebels so they started throwing crumbs. But don't be deceived the average Lagos politician is still as corrupt as those you would see far down south and this is why we must continue to put them on their toes and really evaluate their performances.

The error of the people always start when you think a leader is too good to be kicked out. If you want Lagos to succeed then you better stop your loyalty to her govt or the tinubu dynasty..

Dude, you are talking nonsense. You said you will vote against Ambode, and I said fine, even though you are yet to tell us whom you will vote for instead and what that person or party would do differently You might as well just come out and say you just want a different party to take over Lagos just for the sake of it because you have so far failed to give us a better alternative. If you feel Tinubu's party is not doing well, give us an alternative party, let us see their manifesto and plans for Lagos. Lagosians are RATIONAL people. They will vote out APC in a heartbeat if presented with a better alternative. In the meantime, you are still talking crap.

meromero11:
Let us render advice to at least one state in the country that is performing to enable them do more and improve. You don't change a winning team. Lagos economy is what is making Nigeria to look like a country with economy otherwise we would have been on a "long thing". Lagos people are very hard-working and it is their efforts that is sustaining this country compare to those of us "lazy ass" in Abuja always feeding on federal coffers. Thumbs up for Lagos. I expect Rivers, Ogun and Anambra to join this elite league operating as autonoumous economies within a soverign system.

You have a point. I know Ambode would win but I'm irritated at the fact that someone thinks he must win on a landslide.

Nigeria is backward I swear, Lagos is still in a deplorable state inspite of the huge revenue it is seeing.
Politicians scamming Nigerians like Mavrodi since 1960 while the citizens are cool about it.
Issorait!
Nigeria will never progress until there is disintegration.

afroniger:
Dude, you are talking nonsense. You said you will vote against Ambode, and I said fine, even though you are yet to tell us whom you will vote for instead and what that person or party would do differently You might as well just come out and say you just want a different party to take over Lagos just for the sake of it because you have so far failed to give us a better alternative. If you feel Tinubu's party is not doing well, give us an alternative party, let us see their manifesto and plans for Lagos. Lagosians are RATIONAL people. They will vote out APC in a heartbeat if presented with a better alternative. In the meantime, you are still talking crap.

Brotherly hope your eyes are working. I said I may not vote Ambode not that I will vote against him. As for an alternative to Ambode I don't know either. But I believe people should be able open to better options if they do get to see one in 2019.

By the way learn to have an healthy discussion without going off in anger.

HigherEd:
Brotherly hope your eyes are working. I said I may not vote Ambode not that I will vote against him. As for an alternative to Ambode I don't know either. But I believe people should be able open to better options if they do get to see one in 2019.

By the way learn to have an healthy discussion without going off in anger.

Anger you say? Guy you no sabi wetin anger be. I didn't at any point deny your right nor the propriety of your decision to vote for or against Ambode, and I made that clear in all my submissions. But you also need to understand that I have as much right as you do to express a contrary opinion to yours on an issue such as this. Perhaps my language was a tad bit strong when I said you were 'talking nonsense' by not giving folks a viable alternative in your attempt to de-market the candidacy of the incumbent governor. For that I say.. my bad.

moufan:
then why are you comparing lagos,the commercial centre of nigeria,lagos with a population of over 20 million with ekiti whose population is less than 3 million and a farming state. they are both incomparable

The impact of the population of Lagos on her IGR maybe exaggerated. As a private sector driven state a lot of lagosians are serviced by the private sector in health care, education, transportation and all that. So many people are not a burden to the Income base of Lagos.

Secondly, much of the services the state renders are partly self sustaining as they generate huge IGR because they charge the residents.

meromero11:
Let us render advice to at least one state in the country that is performing to enable them do more and improve. You don't change a winning team. Lagos economy is what is making Nigeria to look like a country with economy otherwise we would have been on a "long thing". Lagos people are very hard-working and it is their efforts that is sustaining this country compare to those of us "lazy ass" in Abuja always feeding on federal coffers. Thumbs up for Lagos. I expect Rivers, Ogun and Anambra to join this elite league operating as autonoumous economies within a soverign system.

Stop confusing activity for progress or hard work.
Lagos is just a port state that happens to be the easiest place for packaging firms you & I like to call industries situate their facilities. Think about milk (Cowbell, Dano, Three Crown, Hollandia, Olympia) most of these people don't source their milk from Nigeria but buy almost finished milk from Holland, new Zealand etc and package in Lagos because Lagos is close to the entry point of their raw material/produce. Don't confuse that for hard work.

NigeriaIsDoomed:
Nigeria is backward I swear, Lagos is still in a deplorable state inspite of the huge revenue it is seeing.
Politicians scamming Nigerians like Mavrodi since 1960 while the citizens are cool about it.
Issorait!
Nigeria will never progress until there is disintegration.

Biafranic scornful your Brain is doomed, fools scamming the pockets of their useless Biafra supporter since 19whatever i don't care to know

HigherEd:
The impact of the population of Lagos on her IGR maybe exaggerated. As a private sector driven state a lot of lagosians are serviced by the private sector in health care, education, transportation and all that. So many people are not a burden to the Income base of Lagos.

Secondly, much of the services the state renders are partly self sustaining as they generate huge IGR because they charge the residents.

majority of lagosians depend on public hospitals,public education,public transportation and other public infrastructures.

lagos is very overpopulated and the population keeps growing everyday.people from all over nigeria see lagos as a working state they then keep coming to lagos thereby stretching the infrastructure.it's high time other states are developed.one viable state among 36 states is an embarassment to nigeria.

DeBrain045:
Biafranic scornful your Brain is doomed, fools scamming the pockets of their useless Biafra supporter since 19whatever i don't care to know

Cry cry baby, tagging me a Biafran is a total nonsense because I am not a Biafran and it changes nothing.
Nigeria will collapse oneday whether we want to hear the truth or not.
Nigeria is such a backward country and our only idol, Lagos which is occupying less than 1% of the total landmass of Nigeria is still in a deplorable state.
Our wicked rulers and their miserable supporters like you are supposed to be stoned to death.
I know you are typing this from your brown roof in Ibadan but for your information, the two most important roads in Lagos(Airport road and seaport road) are still under construction after how many years of independence. Do I mention the abandoned rail projects in Lagos or the housing deficit?
It's only in Nigeria that basic amenities are luxuries to the citizens.
You should be weeping for yourself and your generation if you know how these wicked rulers you worship have destroyed this country.
Boy! U may never understand me but do I blame you.

DeBrain045:
Biafranic scornful your Brain is doomed, fools scamming the pockets of their useless Biafra supporter since 19whatever i don't care to know

Is it the scam you are more concerned about or the points raised. Just like in GEJ's era you people were calling for restructuring of Nigeria because you felt GEJ was not treating you fairly so he's saying nothing extraordinary.

Lagos being the former capital of Nigeria with seaport littered every nook and cranny of the state made the city a commercial hub of the nation but you would want to give the credit to some criminal Governor as if they did anything to create impact, or are you telling me the population of Lagos since 80's was also because of the so called good works of thie.fnubu and his gang?.

Let standard seaports and international airports be built in the east like the same Federal government did for Lagos then you can compare which Governor or which state is better than Lagos. I'm not against Lagos state but with the way things are going the fedreal Government need to build a standard sea or dry port in the east to expand developments in every part of the country.

Anambra and Abia have great potentials but need to be encouraged to springboard them to the top by setting up machinery that will make their business thrive without having to come to Lagos for virtually everything. Without any help from the federal Government Anambra population even grew with Onitcha main market being one of the biggest in West Africa in the 80's, now check what would have happened if the Federal Government stepped in to build sea ports and international cargo airports all over the East it would have generated more revenue than Lagos cos Anambra is also oil producing but like the contraption in Nigeria is always cheating the people of the east predominantly IGBOS that is why they will never look that direction so as to keep Lagos afloat without any competition.

Obj had to close down the ports close to the Igbos just to make Lagos ports blossom, same Obj crippled Ibeto to enable Dangote monopolize the cement business. All These coupled with other envy driven witch hunt strategy of your Yoruba brothers and your masters Hausa Fulani is why there needs to be restructuring or break up of Nigeria let other regions govern their natural resources to ensure growth at the pace they dim necessary. Ekwuchalam!!

HigherEd:
I don't care whether you care about my vote either. My vote is my voice and I insist that LASG isn't doing enough for what it earns.

It is stupid to say one governor is the best in Nigeria. They don't earn same therefore cannot be judged in the same manner unless we are talking about policy enactment and all that.

34 billion a month is more than what 30 state in Nigeria earn combined in a month, for a Lagos state that is just the size of Ibadan in landmass. Clearly there is huge scam going on somewhere if not Lagos should look like a Johannesburg right now. People should be intelligent to know where to demand for better. And Lagos is certainly one state where people need to demand for better...

You spoke exactly like your name....thumbs up

Thanks for sharing this

The lack of strategic thinking exhibited by some state governments is worrisome.

Each state has its own unique assets that can be leveraged on to generate revenue (even without employing all those hooligans who terrorize road-users and traders to generate revenue.)

Don't you just wish some governors can read some of these constructive threads on Nairaland?

HigherEd:
I don't care whether you care about my vote either. My vote is my voice and I insist that LASG isn't doing enough for what it earns.

It is stupid to say one governor is the best in Nigeria. They don't earn same therefore cannot be judged in the same manner unless we are talking about policy enactment and all that.

34 billion a month is more than what 30 state in Nigeria earn combined in a month, for a Lagos state that is just the size of Ibadan in landmass. Clearly there is huge scam going on somewhere if not Lagos should look like a Johannesburg right now. People should be intelligent to know where to demand for better. And Lagos is certainly one state where people need to demand for better...

do you also have the idea of stress Lagos infrastructures go through? Thanks to the population and people trooping their everyday.

Name one city in the world better than Lagos despite having the same population and the same income/budget in a year. Let's compare.

Lagos earns about 1billion dollars a year for over 20million population and this one is comparing it with other cities.


What is the population of Johannesburg? And what is special about jonhanesburg?