Economic Growth and Financial Autonomy

Campaign Event

SECOND TENURE CAMPAIGN PROMISES 2003 – 2007

Description

Aggressive Revenue Generation: Following the seizure of local government funds by the federal government, a core promise was to continue professionalizing the Lagos State Internal Revenue Service (LIRS) to make Lagos financially independent.
Public-Private Partnerships (PPP): Promoting PPP models to finance critical infrastructure projects, which later led to the development of the Lekki Free Trade Zone and the concessioning of the Lekki-Epe Expressway.

Evidence (1)

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• Massive IGR Increase: Tinubu restructured the Lagos Internal Revenue Service (LIRS), driving up the state's monthly Internally Generated Revenue (IGR) from approximately N600 million in 1999 to over N7 billion by the end of his tenure in 2007, making the state financially autonomous.

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