Government budget and revenue in Lagos, Nigeria: official figures
Lagos raised ₦1.77 trillion of its own revenue (taxes plus fees and charges from its ministries and agencies) in 2025, 34.4% of the ₦5.15 trillion raised by all states and the FCT; the highest of the 36 states and the FCT. That was up 40.2% on 2024 (₦1.26 trillion).
Where does Lagos' own revenue come from?
Taxes made up 83% of that revenue, and pay-as-you-earn income tax on wages alone brought in ₦993.3 billion, 67% of the tax take.
Source: National Bureau of Statistics · saved copyHow much does Lagos get from FAAC?
The Lagos government received ₦58.8 billion net from the Federation Account Allocation Committee in July 2026 (shared from June revenue), 4th largest of the 36 states. The gross allocation of ₦77.1 billion included ₦14.8 billion of statutory allocation and ₦59.5 billion of VAT; ₦8.3 billion was deducted at source for external debt service.
Source: National Bureau of Statistics · saved copyHow much do local governments in Lagos receive?
In July 2026 Lagos' 20 local government councils shared ₦50.8 billion from the federation account, the largest of the 36 states and the FCT.
Source: National Bureau of Statistics · saved copyHow much debt does Lagos have?
The Lagos government owed ₦1.20 trillion in domestic debt on 30 June 2026, 26.0% of all state and FCT domestic debt and the largest of the 36 states and the FCT; that is about ₦87,178 per resident and 0.7 times its own revenue in 2025.
Source: Debt Management Office · saved copyHow much foreign debt does Lagos owe?
Its external debt stood at $1.3 billion on 30 June 2026 (provisional), 18.6% of the states' and FCT's $6.8 billion and the largest of the 36 states and the FCT.
Source: Debt Management Office · saved copyMore figures
- In 2019 Lagos raised ₦646.6 billion, so its own revenue has grown 174% in six years, before allowing for inflation. Shared money from the federation account (FAAC) is not included in these figures. Source: National Bureau of Statistics · saved copy
How Lagos compares with other states
Internally generated revenue (2025)
Lagos ranks 1 of 37, highest first.
| Rank | Region | Internally generated revenue |
|---|---|---|
| 1 | Lagos | ₦1.77 trillion |
| 2 | Rivers | ₦428.4 billion |
| 3 | Enugu | ₦406.8 billion |
| 4 | Federal Capital Territory | ₦356.3 billion |
| 5 | Ogun | ₦252.4 billion |
| 6 | Delta | ₦202.5 billion |
| 7 | Edo | ₦132.2 billion |
Domestic debt of the state government (Jun 2026)
Lagos ranks 1 of 37, highest first.
| Rank | Region | Domestic debt of the state government |
|---|---|---|
| 1 | Lagos | ₦1.20 trillion |
| 2 | Delta | ₦369.3 billion |
| 3 | Federal Capital Territory | ₦358.8 billion |
| 4 | Rivers | ₦354.6 billion |
| 5 | Edo | ₦214.9 billion |
| 6 | Ogun | ₦189.1 billion |
| 7 | Bauchi | ₦157.4 billion |
More on Lagos: overview · economy and jobs · health · education and schools · poverty and living standards · Nigeria
Sources
- Debt Management Office: Domestic debt data for the 36 states and the FCT as at June 30, 2026, read 23 October 2026 · saved copy (SHA-256 17e59a86a5ba…)
- Debt Management Office: States, FCT and Federal Government's external debt stock as at June 30, 2026 (provisional), read 23 October 2026 · saved copy (SHA-256 56a465c0c569…)
- National Bureau of Statistics: FAAC Disbursement July 2026 (June 2026 revenue): Table III state governments and LGC summary (Office of the Accountant-General of the Federation data), read 23 October 2026 · saved copy (SHA-256 7de8f58a0d10…)
- National Bureau of Statistics: Internally Generated Revenue at State Level 2025, with data for 2019-2025 (IGR_DATA_2019_2025.xlsx), read 23 October 2026 · saved copy (SHA-256 e3710744bb15…)
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