Lagos State says it has achieved nearly 80 per cent performance on both its 2026 budget and Internally Generated Revenue (IGR) at the latest assessment.
Commissioner for Economic Planning and Budget, Ope George, disclosed this on Monday at the 2027 Budget Consultative Forum held at the Multipurpose Hall of Radio Lagos, Agidingbi, Ikeja.
George said the state had maintained budget performance of at least 80 per cent in recent years, with the latest review putting the 2026 figure at between 79 and 80 per cent.
“Every year, we perform minimum 80 per cent on our budget over the last couple of years. So, as of last check, we are close to 80 per cent or 79 per cent.”
IGR Hits 80% at Half-Year Review
The commissioner said Lagos typically records annual IGR performance of 85 to 90 per cent, adding that the latest half-year assessment showed performance at about 80 per cent.
He said the figure reflected the state’s progress in generating revenue internally to support its programmes and development plans.
Lagos GDP Estimated at ₦16.2tn
George also disclosed that Lagos’ real Gross Domestic Product (GDP) is estimated at about ₦16.2 trillion.
He explained that the state monitors both nominal and real GDP as part of its assessment of economic performance.
The disclosures came as Lagos commenced consultations ahead of the preparation of its 2027 budget.
Communities Set Priorities for 2027 Budget
The consultative forum is part of a wider engagement with residents and stakeholders across the five divisions of Lagos State.
The process gives communities and interest groups an opportunity to:
- Identify pressing development needs.
- Recommend projects and interventions.
- Assess previous government programmes.
- Provide feedback on budget implementation.
- Propose measures that could improve living conditions.
Speaking on the community experience, Adesegun Olatunde, Chairman of the Community Development Committee, Isolo LCDA, said he had participated in the consultations for almost eight years.
He said communities had continued to participate because government had responded positively to many of their requests.
According to Olatunde, although unexpected issues could affect budget priorities, communities had seen a significant proportion of their demands addressed.
“At worst, 70 per cent of what we request is attended to, which shows a pass mark,” he said.
Stakeholders Urged to Bring Solutions
Permanent Secretary of the Ministry of Economic Planning and Budget, Olayinka Ojo, urged participants to move beyond identifying problems and submit practical, sustainable solutions capable of improving livelihoods and boosting economic activity.
She said the recommendations should also contribute to human capital development, social inclusion and the wellbeing of Lagos residents.
Ojo assured stakeholders that their submissions would be documented and analysed before being forwarded to relevant government institutions for consideration during the preparation and implementation of the 2027 Lagos State Budget.
The consultations therefore offer residents a direct channel to influence next year’s spending priorities—while the state enters the budget cycle with reported fiscal and revenue performance of roughly 80 per cent.
