Lagos rakes in ₦582.45 billion in first quarter of 2025, defying economic odds

On the expenditure front, Lagos recorded a recurrent expenditure of ₦251.22 billion, which is 78% of the quarterly target of ₦323.91 billion and 19.4% of the annual recurrent budget of ₦1.30 trillion. Capital expenditure stood at ₦271.11 billion, achieving 52% of the Q1 target of ₦517.80 billion and 13.1% of the annual capital budget of ₦2.07 trillion.