Fiscal Sustainability and Revenue Development
LEDU identifies an LSDP 2052 target of a 5% revenue-to-GDP ratio. Lagos stood at 4.20% in 2023 Q2 according to the report.
Reference: Lagos Economic Development Update (LEDU) 2024, LEDU 2024, p.16
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Lagos Economic Development Update (LEDU) 2024
Lagos State's fiscal sustenance relies predominantly on Internally Generated Revenue. IGR accounted for 74% of total revenue in 2023 Q2, compared with 67% in 2023 Q1.
Reference: LEDU 2024, p.16
Lagos Economic Development Update (LEDU) 2024
LEDU reports that the State maintained its debt-service-to-total-revenue ratio below 10% for ten consecutive quarters, against the 22.5% benchmark cited in the report.
Reference: LEDU 2024, p.19