Korede Abdullah in Lagos
Lagos State recorded a historic Internally Generated Revenue (IGR) of N1.3 trillion in 2024, marking a 45% increase from the previous year, according to the Commissioner for Finance, Abayomi Oluyomi.
Speaking at a ministerial briefing in Ikeja on Monday, Mr Oluyomi disclosed that the state had already collected N333 billion in IGR for 2025. He highlighted that N14 billion of this came from the Land Use Charge—a 37% boost—thanks to improved tax systems and expanded payment options, including POS, USSD, WhatsApp, and online platforms.
“Strategic reforms and financial innovations have positioned Lagos as a leader in sub-national financial management,” he said.
However, this financial boom stands in stark contrast to the deepening poverty in Lagos’ informal settlements such as Makoko, Iwaya, Ilaje, Ijora Badia, and Amukoko.
A recent study assessing multidimensional poverty in five slums near the coastline found that Makoko and Iwaya exceeded the severe poverty threshold of 0.50 on the index. “The communities are deeply deprived in areas like schooling, sanitation, and nutrition,” the report stated.
It further noted that education showed the highest levels of deprivation across all slums, with even modest gains in child enrolment not enough to reverse systemic deficits.
Living standards varied among the communities, with Amukoko recording the lowest poverty index (0.0312) due to relatively better sanitation infrastructure. However, health deprivations—driven by poor nutrition, high mortality, and lack of clean water—remain a pressing concern.
“Poor waste management, especially in Makoko and Iwaya, contributed to health challenges,” the report added. Yet, it acknowledged that hygiene habits, such as handwashing and use of clean water, helped mitigate some health risks.
The World Bank has identified these slums for upgrades under a $200 million infrastructure initiative targeting drainage and waste systems.
Despite the challenges, Governor Babajide Sanwo-Olu’s administration has launched targeted interventions aimed at poverty reduction.
