I increased Lagos IGR from N600 million; it’s N51 billion today: Tinubu

“He cited his success…raising the internal revenue generation of the state from a paltry N600 million monthly, which has now grown to N51 billion today.”

News Agency of Nigeria • May 31, 2022

Bola Tinubu and stash of Naira

Bola Tinubu, a frontline presidential aspirant of the All Progressives Congress (APC), has boasted of growing Lagos’ internally generated revenue from “a paltry N600 million monthly, which has now grown to N51 billion.”

A statement issued by Bayo Onanuga, the director-general of his campaign organisation, quoted the former governor as speaking when he appeared before the party’s John Odigie-Oyegun-led seven-man presidential screening committee.

“He cited his success as governor of Lagos State, his raising the internal revenue generation of the state from a paltry N600 million monthly, which has now grown to N51 billion today,” Mr Onanuga said.

In January, Peoples Gazette reported that Governor Babajide Sanwo-Olu boosted monthly financial allocation to Alpha Beta LLC from N800 million under his two immediate predecessors to N2.5 billion as Mr Tinubu began calling in favours towards his presidential objective next year.

Last October, Tunde Bakare, also seeking to get the APC’s nod to run for president next year, said Mr Tinubu utilised funds looted from Alpha Beta to secure the elections of some South-West governors.

The APC national leader answered questions bordering on his upbringing, educational and professional background during the screening.

Some APC members are concerned about his educational and social background, citing alleged certificate forgery and drug charges.

Mr Onanuga also mentioned that Mr Tinubu told the panel why he should be APC’s flag bearer.

“He also cited his invitation to Enron to begin the first state-backed power generation in Nigeria and how Nigeria will need to take the power transmission lines as a highway,” the statement noted. “Tinubu, in his answers, demonstrated vast knowledge in economic management and a perfect understanding of Nigeria’s political economy.”

He added that the screening committee expressed satisfaction with Tinubu’s knowledge of the economy and the country’s socio-political issues.

The Gazette has published a laundry of exclusives signposting Mr Tinubu’s dodgy economic empire, including TVC and Lagos BRT.

(NAN)

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