Lagos targets N30bn monthly IGR, says Ayorinde

The Lagos State Commissioner for Information, Mr. Steve Ayorinde, says the state government plans to generate N30 billion as its monthly internally generated revenue (IGR) by next year.

Ayorinde told the News Agency of Nigeria (NAN) in Port Harcourt, Rivers, that the state was currently generating N24.5 billion monthly as its IGR.

He said Governor Akinwumi Ambode had already set N30 billion as the target to be generated monthly with effect from next year to run the affairs of the state.

As at today, 71 per cent of this year`s budget for the state comes from IGR.

Direct taxes will constitute between 60 per cent and 65 per cent of the targeted figure.

We will use technology in our revenue generation drive, particularly, as it affects the land use charge.

Land is the gold of Lagos State and, therefore, it is important for the state to capture those properties yet to be captured,” he said.

The commissioner said that there was an estimated 2 million homes in the state but that less than a million of them had been paying the land use charge.

Ayorinde said the state government would engage the services of experts to capture all those that were yet to key-in into its tax drive so as boost its IGR.

He said that Gov. Ambode at a town hall meeting in Badagry recently said that the state budget would hit a trillion-naira mark within the next two years.

We are also optimistic that within three years’ time , Lagos State will not be relying on federal allocations before it fulfills its electoral promises to its electorate,” he said.