Index to Nigerian Newspapers

Lagos State's Internally Generated Revenue (IGR) for 2021 may have suffered a N180 billion shortfall at the end of the year due to an average N15 billion monthly deficit. The state had projected an average of N60 billion monthly to finance the budget signed into law by Governor Babajide Sanwo-Olu, but only generated an average of N45 billion monthly. NBS statistics revealed that the state generated N127 billion and N267.23 billion in quarter one and half year respectively. Lagos State has not met its monthly IGR target by about N183 billion. Capital expenditure may have borne the brunt of the shortfall, with the state spending N241 billion in 2019, N555.6 billion in 2020, and N386.5 billion in 2021. Tax consultant Prof. Godwin Oyedokun noted that budget and expected revenue are based on assumptions, which may not be achieved or not.

The Lagos State Government has introduced a daily consolidated informal transport sector levy of N800 for commercial transporters, besides union dues of the National Union of Road Transport Workers (NURTW) and Road Transport Employers Association of Nigeria (RTEAN). The levy takes care of dues previously accruing to councils and Local Council Development Areas (LCDAs) across the state, as well as revenue for Lagos Waste Management Authority (LASWA), Lagos State Environmental Protection Agency (LASEPA) and Lagos State Inland Revenue Service (LIRS). Special Adviser to Governor Babajide Sanwo-Olu on Transportation, Oluwatoyin Fayinka, cautioned transporters against paying any other levy, expressing hope that the initiative would ease burdens in terms of amount and mode of payment.

Lagos State Governor, Babajide Sanwo-Olu, has said the Opebi-Ojota Link Bridge will be completed in 20 months and that his administration will continue to promote economic prosperity through sustainable road infrastructure. This includes maintenance of over 832 roads, covering 252km.

The Lagos State Governor, Mr. Babajide Sanwo-Olu, has signed the 2020 appropriation bill of N1.758 trillion into law, with N591 billion spent on recurrent expenditure and N1.166 trillion on capital expenditure. He is optimistic that the state will experience a stronger 2022, and is excited about the benefits that will accrue to the state. Yishawu said the assembly was able to deliver the budget on time due to the Speaker, Mudashiru Obasa, instructing lawmakers to get to work and ensure the budget was delivered on time without compromising standards.