At the 2025 Ministerial Press Briefing, Lagos State Commissioner for Economic Planning and Budget, Ope George, disclosed that the state government invested ₦130 billion in social intervention programmes in 2024, impacting over 18.5 million residents.
These interventions included targeted transport subsidies to ease the burden of fuel subsidy removal, and the Ounje Eko food programme, which has improved access to affordable food for low-income households across the state.
The Commissioner also reported a strong fiscal performance, revealing that Lagos State generated over ₦1 trillion in Internally Generated Revenue (IGR) last year, contributing to a total revenue of ₦2.08 trillion. The government has now set an ambitious revenue target of ₦2.968 trillion for 2025.
From a public finance perspective, George highlighted key fiscal management strategies, including:
- 87% budget performance in 2024 and 78% execution in Q1 2025, indicating disciplined budget implementation.
- A cross-sectoral expenditure review to enhance equitable resource allocation.
- Citizen-driven budgeting through consultative forums across the state’s five administrative divisions, aligning state spending with grassroots priorities.
The Lagos State government also trained 400 enumerators to improve data collection at the local level — a move that supports data-driven planning and revenue forecasting.
Commending Governor Babajide Sanwo-Olu’s administration, George reiterated Lagos’ commitment to inclusive growth and prudent fiscal governance. With an estimated GDP of $259 billion, Lagos remains one of Africa’s leading sub-national economies — a promising indicator for investors and financial analysts alike.
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