Lagos motorists who are fond of breaking road traffic laws in Lagos will have it tough with the Lagos State Traffic Management Authority (LASTMA) as officials of the agency have been given the target to generate N2.5 billion into government ‘s coffer this year.
This is contained in the approved budget of the Lagos State Government for 2024 and signed into law by Governor Babajide Sanwo-Olu.
According to the budget, the Ministry of Transportation is to generate N52.48 billion this year, with the LASTMA arm of the Ministry expected to rake in N2,505,000,000 of the large sum.
LASTMA was given N2.35 billion in the 2023 budget as revenue target. The Authority went all the way to turn in N703.486 million as revenue between January and September, 2023. However, the revenue generation in the last three months (October-December) was not captured in the budget.
Asides LASTMA, N11:28bn is expected to be generated by the Ministry of Transportation, while the Lagos State Metropolitan Area Transport Authority (LAMATA) is given a whooping N10.3 billion revenue generation in the 2024 budget.
Likewise, the Motor Vehicle Administration Agency (MVAA) was given a budget of N17.059 billion revenue target, with the Lagos State Parking Authority expected to rake in N4.1 billion this year.
The Lagos State Number Plate and Production Authority has a revenue generation target of N6.2 billion, which is more that the N5.23 billion revenue target the previous year.
Comments
Post a Comment