The Lagos State Traffic Management Authority (LASTMA) has been handed a N2.5b revenue target, according to the state’s 2024 budget. This was revealed as the budget was signed into law by the governor Mr. Babajide Sanwo-Olu.
According to the 2023 budget breakdown, the LASTMA was expected to bring in N2.35b of the 43.2b target allocated to the transport ministry. The 2024 budget saw an upward review of that target for the year to N2.5b for this agency of the transport ministry.
Recall that the State’s transport policy document for the next 10yrs was recently made public. This budgetary target should be in tandem with it.
What Does this Mean?
We might see an increased drive to grow the revenue of agencies under the Transport Ministry through stiffer penalties for traffic infractions. We could also see an expansion of the traffic surveillance infrastructure across the state.
What People are Saying
To many, this serves as a distraction for the government agency as it is not statutorily a revenue-generating agency. Many also see it as a nudge to road users to obey traffic regulations as well.
