.Supports 2,696 MSMEs with N1.2b loans, grants
Lagos State Government, yesterday, said that it generated ₦433 billion as revenue in the first quarter of 2024, saying that it was 92 per cent of its expected total revenue for the first three months of the year.
The state’s Commissioner for Economic Planning and Budget, Ope George, disclosed this during a ministerial media briefing to mark the first year of the second term in office of Governor Babajide Sanwo-Olu at Alausa, Ikeja.
George said that the revenue performance was a result of strategic planning carried out to expand the tax net, especially in the informal sector.
He said that out that the ministry had continuously prioritised the use of the National Chart of Accounts for Budget Preparation and Implementation Report.
Also, Commissioner for Wealth Creation and Employment, Akinyemi Bankole Ajigbotafe, in a briefing on his ministry’s activities, said that in 2023, about N859 million was disbursed to 1271 Micro, Small and Medium Enterprises (MSMEs) in the state.
He added that the support helped those businesses to grow, creating 51,822 direct and indirect jobs in the state.
He further said that under the Lagos Cares programme, about 1,425 MSMEs were supported with N358 million.
The commissioner also disclosed that about N1.346 billion was disbursed to 11,386 households in 12 local councils across the state as part of efforts to improve the livelihood condition of beneficiaries.
