Motorists in Lagos, Southwest Nigeria, who flout road traffic laws may now face stricter enforcement, as officials of the Lagos State Traffic Management Authority (LASTMA) have been tasked with generating N2.5 billion for the government this year.
This directive is part of the Lagos State Government’s approved 2024 budget, recently signed into law by Governor Babajide Sanwo-Olu.
The Ministry of Transportation aims to contribute N52.48 billion to the state’s revenue, with LASTMA specifically assigned to generate N2,505,000,000 from traffic fines and penalties.
In the 2023 budget, LASTMA was assigned a revenue target of N2.35 billion. By September 2023, the Authority had already collected N703.486 million. However, revenue generated in the last quarter (October-December) was not included in the budget calculations.
In addition to LASTMA, the Ministry of Transportation is expected to contribute N11.28 billion to the state’s revenue, while the Lagos State Metropolitan Area Transport Authority (LAMATA) aims to generate N10.3 billion.
The Motor Vehicle Administration Agency (MVAA) was allocated a revenue target of N17.059 billion for the current fiscal year. In the preceding year, the agency achieved N7.196 billion in revenue between January and September 2023, out of an initial target of N16.399 billion.
Also, the Lagos State Parking Authority is to generate N4.1 billion in revenue this year. In the previous fiscal year, the agency collected N450.9 million from January to September 2023, against a total target of N1.75 billion.
Meanwhile, the Lagos State Number Plate and Production Authority has set a revenue target of N6.2 billion for the current year, exceeding the previous year’s target of N5.23 billion.
Comments 1