Untill recent times, the parameters used to measure percentage in a standard deviation ranges from 1% to 100% , but the narrative was reversed with dint of hardwork by the Lagos state government, under the leadership of Governor Babajide Sanwo-Olu with geometric movement of it’s revenues from 600M in 1999 on inception of the current democracy to the current impressive feat that hovers around 50B to 60B, with impressive sign of more improvements.
Therefore, in statistical analysis and terms, the current administration of Sanwo-Olu changed the revenue fortune of 20B in 2015-2019 to the current level of 50B from 2019-2023.
Within the four years window, over 250% was realised by Sanwo-Olu- Hamzat administration in the area of revenue improvement and generation in Lagos state and by implications from the 600M generated in 1999, over 1000% has been achieved in the current dispensation.
The achievements towards self sustenance in the cosmopolitan Lagos state in all areas of National Development stood out among the 19 Northern states consisting of North Central, North East, and North West interms of Internally Generated Revenue IGR from the official computation released by the National Bureau of Statistics NBS, and also came first from the South West and the entire South geopolitical zones which included South East, South West and South West.
A clear indications that under the current democratic dispensation, inspite of the activities of both natural and artificial occurrences, Lagos state government trailed the federal government in the area of revenue generation.
The gross success that soared Lagos revenue to the roof top was the foresight, acumen and political dexterity of Sanwo-Olu which included the parade of professionals whose wealth of experience transformed the revenue base within the short period of time, a growth that was systematically achieved within the period under review and from 2019-2023.
For Lagos state, the zeal to achieve greater impact geared towards the overall development of the state and to make a positive change on the socioeconomic and general lives of the people was the basis of uninterrupted revenue improvement and enhancement.
Since provision of social services from health to education, infrastructural development, job creation along with wealth creation and development was a corrolary to good governance, the contributions and enhancement of the revenue base of Lagos state by the current administration was not out of place.
The positive jerk up in revenue profile of Lagos state had contributed to the GDP of the state and the overall GDP of Nigeria and also exposed the country to both local and international investors as well as turned the cosmopolitan Lagos to a hub of both organised private sector and multinational corporations.
With adequate education and awareness, the citizenry had developed the enability to payment of various taxes that ranges from personal income tax among many others.
With continuous exploration of revenue base and avoidance of leakages through a well thought out administrative wizardry and professional disposition, no doubt the sustenance of the current positive trend by the Sanwo-Olu’s administration will be easier done than said both now and in the nearest future.
With the impressive revenue base, political will and the zeal by the current leadership under Governor Babajide Olusola Sanwo-Olu in deploying such huge accumulation had attracted Lagosians into giving more supports to his re-election.
With continuous mobilisation of Internally Generated Revenue IGR on a monthly basis, it had encouraged the initiatives of more people oriented programs and dividends of democracy among many other interventions in Lagos state.
From the initial revenue of 600M in 1999 to 20B in 2019 , two decades away, the brisk jerking up of to 50B within just four years life span of Sanwo-Olu administration, was indicative that with his return to office between 2023-2027 , it is expected that Lagos revenue profile will move to 100B considering various exploitation, programs and policies been put in place by the current administration.
In this vein and to ensure continuity, all hands must be on deck to support the re-election of Governor Babajide Sanwo-Olu for a second term in office owing largely to the success story recorded in the revenue generation and utilisation by the Babajide Sanwo-Olu’s administration in Lagos state amidst COVID and ENDSARS.
Written By ABUBAKAR YUSUF and can be reached on [email protected]