Lagos Reveals Amount Generated In 2017

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Governor Akinwunmi Ambode of Lagos State has said the state generated a total of N503.7bn revenue in 2017 despite the harsh economic situation of the country.

Ambode, who spoke at the first quarter Town Hall Meeting of 2018 in Agidingbi, Ikeja, said the state entered the New Year with confidence of being on a solid prosperity footing, adding that the support of the people enabled government to achieve a lot.

Ambode said, “Despite the harsh economy, our state budget performed at 82 per cent. Total revenue generated was N503.7bn, representing a performance of 78 per cent; Total Recurrent Expenditure was N281.33bn, representing a performance of 92 per cent, while Total Capital Expenditure was N387.60bn or 76 per cent performance.”

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Ambode added that as of December 2017, the Lagos State Employment Trust Fund had disbursed a total of N4.5bn to 5,500 beneficiaries, while keys were presented to the first set of beneficiaries of the Lagos State Rent-To-Own Housing scheme.

The governor assured Lagosains that he would sustain the momentum of development and vigorously pursue all ongoing projects, with special focus on health and education.

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