(NAN) The Lagos State Government on Sunday said it will reduce dependence on federal allocation by increasing its Internally Generated Revenue (IGR) to a monthly target of N30 billion in 2017.
It also said that it would increase the IGR to N50 billion monthly in 2018 as it targets a yearly budget of N1 trillion by 2018.
This is contained in a communiqué issued at the end of a four-day retreat for members of the State Executive Council, Body of Permanent Secretaries and Heads of Government Agencies and Parastatals in Badagry.
The communiqué said the retreat had the theme “Reflect, Reappraise, Restrategise: Raising the Bar of Governance’’.
On the budget plan, it said the Commissioner for Economic Planning and Budget, Akinyemi Ashade described the target as ambitious, adding that, appropriate measures were being adopted to achieve the plan.
“Yes, it is ambitious, it requires thinking and what we are going to do differently is to ensure that we use technology to drive it in terms of automation and collection.
“What we are also going to ensure is that the whole reform around consumption taxes is really taken to another level.
“The land administration system will support this initiative,’’ the communiqué quoted Mr. Ashade as saying.
The communiqué said participants deliberated on the six pillars of Lagos State Development Plan, which included; infrastructure development, sustainable environment, finance, economic development, social development and security and governance.
“As a government of inclusion, participants identified the need for partnership with persons and organisations that will create positive value to enhance the quality of life and standard of living of residents,’’ it said.
The communiqué said other conclusions included the need to improve on the performance of Lagos Water Corporation in the production of water and collection of water tariff.
It said that participants resolved to also encourage private sector investment in production and supply of portable water and mapping out strategies toward food security.
On tourism, the communiqué said that participants acknowledged the imperative and need to invest more in the sector.
It said that they emphasised the need to improve on the technological capacity of the Lottery Board to create jobs and increase revenue generation.
The communiqué said the government also urged individuals and corporate organisations to take ownership of its Tree Planting initiative to mitigate the effect of climate change by nurturing and ensuring survival of trees.