Tax revenue made up 80 percent of Lagos’ 2023 IGR – Report

The report also highlighted challenges tied to the recent devaluation of the naira, which has had a significant impact on Lagos' external debt.

Tax revenues contributed a substantial 80.69 percent to Lagos State's internally generated revenue (IGR) in 2023, according to a new report by civic think tank BudgIT.

This heavy reliance on tax collections underscores Lagos’ relative independence from federal allocations, making it the least dependent state on federal government handouts, the report not…