Lagos State government Tuesday revealed that it targets about 73.86 bn monthly Internally Generated Revenue (IGR) to finance the state’s 2020 N1.169trn budget. The Commissioner for Economic Planning and Budget, Sam Egube, providing detailed analysis of 2020 budget, said the state government projected IGR for 2020 is N886.041bn. He added that about N500bn would be raised by Lagos State Internal Revenue Service (LIRS). “We believe that there are huge revenue-generating opportunities in the informal sector, including real estates, transportation for which Lagos State is known for,” Egube said. According to the budget statistics, the education sector got the highest allocation of N136.100 bn, which is N70.407bn higher than that of the 2019 budget.

Source: The Guardian January 07, 2020 13:30 UTC