Lagos State generated N582.45 billion in the first quarter of 2025. This figure represents 79 percent of its quarterly revenue target of N728.90 billion, and 20 percent of its annual revenue projection of N2.92 trillion. The details are contained in the Q1 2025 Budget Performance Report released by the Ministry of Economic Planning and Budget.
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Expenditure breakdown
The report shows that the state spent N251.22 billion on recurrent expenses, amounting to 78 percent of the quarterly target. It also recorded N271.11 billion in capital expenditure, which is 52 percent of the quarterly projection.
Government’s position
Commissioner for Economic Planning and Budget, Ope George, stated that the performance reflects the administration’s approach to financial management and support for the THEMES Plus development agenda. “The state will continue to grow its revenue base and focus on investments that improve residents’ quality of life,” he said.
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Open governance
The state government has encouraged residents to access the full report on its website. This call aligns with its commitment to open governance and public accountability. The government continues to stress transparency and citizen participation in its financial operations.
