2013 budget: Lagos targets N316.578bn from IGR

BY MONSUR OLOWOOPEJO

…to rehabilitate roads to Dana plane crash cenotaph
LAGOS — LAGOS State Government, Tuesday, said it planned to generate N316.578 billion through the Internally Generated Revenue, IGR, in the current fiscal year.

This came three weeks after the state Governor, Babatunde Fashola signed into law the 2013 budget of N499.605 billion.

Commissioner for Budget and Economic Planning, Mr. Ben Akabueze, who spoke during the 2013 budget analysis, in Alausa, said  the state government would within the year rehabilitate the network of roads linking the site of the Dana Plane Crash in Ojokoro Local Council Development Area, LCDA.

Akabueze noted that the state would also receive N117.250 billion through Federal Transfers to the state, explaining that the state revenue target for the year had increased by N26.902 billion from the 2012 which was N289.676 billion.

According to him, “N253.200 billion would be generated through the Lagos State Internal Revenue Service, LIRS, N 37.113 billion through other sources, N21.753 through dedicated revenue while N4.512 billion from Extraordinary Revenue. From the Federal Transfer, the state is expected to receive N59.000billion through Statutory Allocation, Value Added Tax, VAT: N58. 000billion and N0.250 billion through extra ordinary revenue.”