Statistics have shown that Lagos state earns more Internally Generated Revenue than almost all the other geo-political regions combined.
This information was made available by Regional Coordinator for the British Directorate for International Development in Nigeria, Dr. Adesina Fagbenro-Byron.
Speaking at the South-West regional conference on ‘Internally Generated Revenue’ in Akure earlier in the week, Byron said,
“The South-West accounted for 44.3per cent (N926.6bn) of the total internally generated revenue of all the geo- political zones.
“The total internally generated revenue of the South-West between 2007 and 2011, which stood at N926.6b, was more than what the four zones of North-West, North-East, South-East and North-Central, which put together, had during the same period (N675.5b).
“Specifically, Lagos State’s internally generated funds are more than that of North-West, North-East, North-Central and South-East geo- political zones put together (24 states).
He said in respect of geo-political zones, the percentages of IGR to total revenue during the period 2007-2011 showed that South-West had 26 per cent; North-West, 11.6 per cent; South-East, 10.9 per cent; North-Central, 9.8 per cent; South-South 9.5 per cent and North-East, 6.9 per cent.