News Formal

2022 budget: Lagos targets N1.2trn revenue to finance deficit

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 78%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The commissioner said the total budget size of N1.758 trillion would be funded from a total revenue estimate of N1.237 trillion.

has said that the deficit of N521.275 billion of the 2022 budget will be funded through N1.237 trillion targeted revenue.

He said that the deficit funding requirement of ₦521.275 billion was at 21 per cent of debt service to total revenue of the state. This was after a very rigorous bilateral engagement with the respective Ministries, Departments, and Agencies . Mr Egube said that 73.5 per cent of the projected TIGR is expected to be contributed by Lagos State Internal Revenue Service , while about 19.2 per cent is expected to be generated by other MDAs of government.

“The deficit of N521.275 billion is projected to be funded by a combination of internal, external loans and bond issuance.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lagos Targets 1.237trn To Finance 521.275bn Deficit In 2022 BudgetLagos State government on Friday said the deficit of 521.275 billion of the 2022 budget will be funded through 1.237 trillion targeted revenue as well as
Source: LeadershipNGA - 🏆 4. / 77 Read more »