Lagos State generated N582.45 billion in revenue in the first quarter of 2025, achieving 79 percent of its quarterly target of N728.90 billion and 20 percent of its annual projection of N2.92 trillion, according to the state’s latest Budget Performance Report.
The report, released by the Ministry of Economic Planning and Budget, highlights the government’s commitment to fiscal transparency and prudent financial management.
On the expenditure side, Lagos spent N251.22 billion on recurrent expenses—78 percent of the quarterly target—and N271.11 billion on capital projects, which is 52 percent of the quarterly estimate.
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Commissioner for Economic Planning and Budget, Ope George, said the performance reflects the administration’s disciplined approach to public finance and its dedication to the THEMES Plus development agenda. He affirmed that the state will continue to grow its revenue base and focus on investments that improve residents’ quality of life.
The government urged citizens to access the full report on its website as part of its open governance policy.
