The Lagos State Government has reported N582.45 billion in revenue for the first quarter of 2025, 79 per cent of its N728.90 billion target and 20 percent of the N2.92 trillion annual projection (excluding net grants and opening balances). The figures were disclosed in the Q1 2025 Budget Performance Report, published by the Ministry of Economic Planning and Budget to underscore the administration’s dedication to transparency and fiscal discipline.
“The Lagos State Government, through the Ministry of Economic Planning and Budget, has released its budget performance report for the first quarter (Q1) of 2025, reaffirming its commitment to transparency, fiscal discipline, and efficient public financial management,” the report reads.
On the expenditure side, recurrent spending reached N251.22 billion—78 percent of the N323.91 billion quarterly target and 19.4 percent of the N1.30 trillion annual recurrent budget—while capital outlays totalled N271.11 billion, or 52 percent of the N517.80 billion quarterly estimate and 13.1 percent of the N2.07 trillion capital allocation.
Commenting on the results, Commissioner for Economic Planning and Budget Ope George said, “This Q1 performance reflects our administration’s prudent approach to public finance and our unwavering commitment to deliver on the development priorities outlined in the THEMES Plus agenda. We will continue to strengthen our revenue drive, manage our resources efficiently, and invest in projects that improve the quality of life for all Lagosians.”
The Ministry stressed its ongoing focus on enhancing budget execution across all sectors and ensuring that public funds yield tangible benefits for residents. Citizens are invited to review the full Q1 2025 Budget Performance Report on the Lagos State Government’s website as part of its open governance policy.