(Ecofin Agency) - The Lagos State government generated in 2016 N436.3 billion ($1.4 billion) internal revenue. This exceeds N399.4 billion ($1.2 billion) generated in 2015.

Disclosing this at the ministerial press briefing, Akinyemi Ashade (photo), state commissioner, Ministry of Finance, attributed the positive performance to innovative ideas and continuous sensitization. 

In details, the Lagos State Internal Revenue Service (LIRS) generated about 80% of total internal revenue, thus N247.022 billion. Besides, it collected N7 billion from Land Use Charge (LUC) in 2016 (against N6 billion the year before). The LUC is a yearly duty which property owners ought to pay and which is used by the state government to carry out projects and develop the state.

With this mind, the official urged the owners to pay their taxes. Ashade also urged property owners to resort to the Land Use Charge Assessment Appeal Tribunal to solve conflicts instead of going to regular courts.