The Lagos State Government said on Monday that its Internally Generated Revenue grew by 7,400 per cent between 1999 and 2021.
The Governor, Mr Babajide Sanwo-Olu, disclosed this at the 149th Joint Tax Board Meeting in Lagos.
According to a statement, the JTB is a quarterly conference of chairmen of inland revenue service from the 36 states of the federation and the FCT to appraise performance and deliberate on tax issues at various levels of government across the country.
Sanwo-Olu, who was represented by the Commissioner for Finance, Mr Rabiu Olowo, said Lagos remained the largest contributor to national non-oil revenues, by way of corporate income taxes, Value Added Tax, customs duties, and port charges, among others.
He said: “This is to be expected from the subnational entity that is the most populous in the country and is also the biggest commercial hub. However, in the subsequent re-distribution of resources, we do not see any reflection of the contribution of Lagos State.
“Our share in this redistribution fails to take into account the demographic and infrastructural burdens and pressures that accompany being the economic nerve-centre of the nation.”
He said, “The result is that since 1999 the Lagos Inland Revenue Service has undergone the most extensive tax administration reforms of any subnational government in Nigeria