Lagos State Commissioner for Economic Planning and Budget, Mr. Ben Akabueze, yesterday said the state’s Internally Generated Revenue, IGR, averages a total of N20 billion monthly. The commissioner said the IGR rises and drops on monthly basis depending on the season and periods, saying the N20 billion figures was on the average.
He added that the state has a projected IGR of N316.578 out of its N499.605billion 2013 fiscal budget, saying it is more than the total budget of some Niger Delta states. He made the revelation at the ongoing ministerial press briefing to herald the sixth anniversary in office of Governor Babatunde Fashola’s administration in the state.
His words: “IGR trickles in everyday across different agencies of the state, one month it could be up, the next month it could be down depending on seasonal considerations and all of that, at the end, we will have an aggregate for the year and you could average it out but as today it is about N20 billion monthly.”
He disclosed that the state is adopting measures, including the expansion of the tax net to cover more taxable persons living and doing business in Lagos in order to realise the IGR target.
Akabueze debunked any pan to introduce any new tax, but would assured that the state would leverage on existing taxes as approved and empowered by the law of the federation, to realise the objectives of this year’s budget.