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Sanwo-Olu Presents N1.388Trn 2022 Appropriation Bill To Legislature

Lagos State Governor, Babajide Sanwo-Olu, on Wednesday  presented a budget estimate of N1.388 trillion for the 2022 fiscal year to the State’s House of Assembly for consideration. Tagged ‘Budget of Consolidation’, the Appropriation Bill 2022 provided for a recurrent expenditure of N564.93 billion, representing 40.4 percent  of the proposed budget while capital expenditure was put […]

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Nigeria’s Recovery From COVID-19 Pandemic Encouraging – Ahmed

The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has described Nigeria’s  recovery  from the COVID-19 pandemic as encouraging, stressing that things are now looking up for the country in view of the recent trajectory by the economy. The minister, who made this remark  during the opening ceremony of the 2021 Conference of […]

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North Central Stakeholders Propose Divergent Revenue Allocation Formulas

Stakeholders in the North Central zone on Thursday failed to agree on a new revenue sharing formula for the tiers of government with their recommendations ranging from 29% to 35% for state governments. The stakeholders, who shared their thoughts during  the Public hearing of the current Revenue Allocation Formula (RAF)  for the North Central Zone), organised […]

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Lagos To Commence VAT Law Implementation – Lawmaker

A member of the Lagos State House of Assembly, Hon. Setonji David, on Monday reiterated the state government’s determination to the implement the just signed Value Added Tax (VAT) Law in the state, despite last Friday’s Court of Appeal ruling for a stay of execution of a lower court order on the matter. The lawmaker […]

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Lagos Assembly Passes VAT, Anti-open Grazing Bills

Lagos State House of Assembly on Thursday concluded its deliberations on Value Added Tax (VAT) Bill and the Anti-open Grazing Bill during plenary with a unanimous passage of the bills. Following the passage of the bills, the Speaker, Hon. Mudashiru Obasa, directed the Acting Clerk of the House, Olalekan Onafeko, to transmit clean copies to […]

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Lagos Launches Environment-Friendly Bike Share Scheme

Lagos State Government has launched a pilot phase of its Lagos Bike Share Scheme with 1,000 bikes, in line with the United Nations’ Sustainable Development Goals (SDGs) of reducing green gas emissions globally, as part of its efforts to make the state more environment-friendly for lives and fauna. Speaking at the event held at the […]

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Lagos Secures $629Mn Loan To Fund Lekki Deep Sea Project

Lagos State Government on Monday disclosed that it secured $629 million loan to part-fund the Lekki Deep Sea Port Enterprise Limited project. The Commissioner for Commerce, Industry, and Cooperatives, Dr. Lola Akande, gave this hint during the year 2021 ministerial press briefing to mark Gov. Babajide Sanwo-Olu’s second year in office. According to her, the […]

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Lagos Cooperatives’ Capital Base Hits N33Bn

Lagos State Cooperative Societies’ capital base has risen to N33 billion up from N32 billion it grossed in 2019. The state Commissioner for Commerce, Industry and Cooperatives, Mrs. Lola Akande, disclosed this in Lagos at the 2021 Ministerial news conference to commemorate the second year in office of Gov. Babajide Sanwo-Olu. Akande explained that as […]

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Lagos Has Spent N20Bn On Imota Rice Mill So Far – Commissioner

Lagos State Government has committed N20 billion on the construction of the 32 metric tonnes per hour Imota Rice Mill in the state. The state Commissioner for Agriculture, Ms Bisola Olusanya, gave this hint on Thursday during a ministerial press briefing to mark Governor Babajide Sanwo-Olu’s second anniversary in office. The N25 billion the rice […]

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Revenue: Lagos Records 81% Revenue Performance In H1 2020

The Lagos State Government on Thursday reported that 81 per cent of its projected revenue for the first half of 2020, totaling N432.6 billion, was recorded in spite the scourge of COVID-19 pandemic on economic activities. The Commissioner for Budget and Economic Planning, Mr. Sam Egube, disclosed this at the 2019/2020 Annual Press Conference Week […]