- Lagos’ Internally Generated Revenue Hits ₦1.17tn in First Half of 2026
- Capital Spending Tops Recurrent Expenditure
- The health sector received ₦49.59 billion, equivalent to 31.9 per cent of its capital budget
Lagos State generated ₦1.685 trillion in revenue during the first six months of 2026, with internally generated revenue (IGR) contributing nearly 70 per cent of the total earnings, according to the state’s second-quarter Budget Performance Report.
Eko Hot Blog reports that the report showed that the state also spent ₦1.539 trillion between January and June, representing 91.3 per cent of the total revenue realised during the period.
EDITOR’S PICK
- Nearly 30 Years Later, Who Really Knows How Abacha Died?
- Tinubu Govt Dismisses Reports of Fresh Electricity Tariff Increase
- Traditional Rulers Remain Key Partners in Lagos Development – Sanwo-Olu
The figures underscore Lagos State’s continued reliance on internally generated revenue to fund government operations while maintaining a relatively balanced expenditure profile between recurrent and capital projects.
According to the report, IGR accounted for ₦1.166 trillion, representing 69.2 per cent of the state’s total revenue in the first half of the year.
The state’s allocation from the Federation Account Allocation Committee (FAAC) contributed ₦501.09 billion, making it the second-largest source of revenue.
Other revenue sources included an opening balance of ₦1.6 billion carried over from 2025, ₦4.91 billion from grants and aids, ₦9.87 billion realised from loans and borrowing receipts, and ₦1.94 billion recorded as other capital receipts.
On the expenditure side, Lagos spent a total of ₦1.539 trillion during the six-month period.
Recurrent expenditure stood at ₦767.15 billion, while ₦772.64 billion was released for capital projects, indicating a slight preference for infrastructure and development spending over recurrent obligations.
A breakdown of capital releases across sectors showed that the environment sector recorded one of the highest performances, receiving ₦83.83 billion, representing 53.5 per cent of its capital allocation.
The health sector received ₦49.59 billion, equivalent to 31.9 per cent of its capital budget, while the education sector recorded ₦14.9 billion in capital releases, representing 26.8 per cent of its approved allocation for the period.
The latest figures reinforce Lagos State’s position as Nigeria’s highest revenue-generating subnational government, driven largely by its robust internally generated revenue base.
FURTHER READING
- Lagos Govt Threatens Legal Action Against Assault on Doctors, Nurses
- Northern Insecurity Will Soon Be History, Tinubu Assures
- Tinubu Calls on Universities to Drive Innovation, National Development
Click here to watch video of the week
