Ayodele Olalere
The Lagos State Ministry of Finance says that the state government generated N868billion in 2023 out of which N679billion were from taxes.
The ministry also revealed that since 2019, Governor Babajide Sanwo-Olu’s administration, paid about N2.60 billion benefits to deceased civil servants under the Group Life Insurance policy, while the insurance department had paid N1,760 billion as claims.
The figures were presented by the Commissioner for Finance, Mr. Abayomi Oluyomi, at a briefing in Alausa, Ikeja in commemoration of the first year of the second anniversary of Governor Babajide Olushola Sanwo-Olu’s administration.
“Under the period under review, the Lagos State government, since 2019, has paid about N2.06 billion benefits to deceased civil servants under the Group Life Insurance policy. This is in fulfillment of the electioneering campaign,” the Commissioner said.
The commissioner also stated that the Lagos State budget recorded 86% performance in 2023, while the year 2024 first quarter budget performance was 65% with capital to recurrent expenditure at 49:51.
Oluyomi said the state is working at harmonizing taxes as a way to curb multiple taxation in the state.