Electric Boats Coming to Waterways by 2027 as Part of Multimodal Plan
Governor Babajide Sanwo-Olu has declared open the 159th meeting of the Joint Revenue Board in Lagos, hosting the leadership of the Nigerian Revenue Service and chairmen of the 36 State Internal Revenue Services and the Federal Capital Territory.
The Governor at the Lagos House Marina, said his administration was excited to receive the delegation which would be in Lagos until the end of the week, thanking them for their support to the state government.
He also said the state generated about one point three trillion naira in Internally Generated Revenue in 2024, attributing the growth to sustained investments in digital tax systems and expanded tax administration.
We generated just a paltry N1.3 trillion in IGR in 2024, which, modestly as it may seem, represents about a 45 per cent growth in our revenue efforts.“
Our IGR today forms well over 60 per cent of our budget, and this is not by chance.
“It is the result of years of deliberate investment in digital tax systems, expansion of the tax net, and building trust with taxpayers,” The Governor said.
Governor Sanwo-Olu described the figure as modest but significant, noting that IGR now accounts for over sixty per cent of the state’s budget.
He noted that Lagos had fully aligned with the new national tax framework and is ready to share its experience with other states to strengthen revenue administration nationwide.
The Governor also said the visitors to the state this week rode the Blue Line, which runs behind the Lagos State House, Marina.
Responding to questions on the Red Line rail, the Governor said the state had just signed off on completed Red Line rolling stock in Dalian, China.
According to the Governor, the new trains would be double the size of the Blue Line rail, with eight cars compared to it as they can actually be carrying up to half a million people daily on the Red Line rail corridor, which runs from Oyingbo to Agbado.
“The beauty of the red line is it’s twice as much, it’s twice as big as the blue line, while the blue line has four cars, the red lines are going to have eight cars, meaning they can, on a daily basis, at full capacity, they can actually be carrying up to half a million people on the red line rail corridor, which is in Ebutemeta, all the way to Agbado” he said.
“There are conversations to see if we can even further extend it, you know, further into urban states so that everybody will enjoy all the services on it” Governor Sanwo-Olu stated.
The Governor also said there were ongoing conversations to extend the Red line further into Ogun State stating that the rail expansion to Lagos’ broader multimodal transport plan, including waterways. He also said the Omi-Eko water transport project is ongoing, with high-capacity electric boats expected by this time next year to boost ferry services as part of the state’s Multimodal Plan.
The Red Line announcement follows additional rolling stock received for the Blue Line last year.
