Lagos lawmakers commend LIRS for N1trn revenue record

The Lagos State Internal Revenue Service (LIRS) has been commended by the State’s lawmakers for surpassing N1 trillion in revenue generation, making it the first sub-national revenue agency in Nigeria to reach this figure.

Lukman Sa’ad Olumoh, the former Chairman of the House Committee on Economic Planning and Budgeting, and Femi Saheed, former Chairman of the House Committee on Finance, acknowledged LIRS and Ayodele Subair, its chairman, for their leadership in improving the State’s revenue performance.

In an interview, Olumoh said the achievement reflected the work of the LIRS team. He noted that Lagos State had set a standard in revenue collection for other States.

Read also: Nigeria’s revenue target under threat as Trump eyes oil production increase

The Ajeromi-Ifelodun Constituency 01 Representative credited Subair for promoting efficiency and innovation in the Agency.

During the 2025 budget signing ceremony, Olumoh told Governor Babajide Sanwo-Olu that Lagos State had reached a significant level in revenue generation.

“Under the leadership of Mr. Ayodele Subair, a visionary and dedicated professional, LIRS has achieved remarkable success. The agency’s work culture and improved operational environment have been instrumental in reaching this milestone,” Olumoh said.

The lawmaker added that the revenue target for 2025 had been set at N1.4 trillion. He said Lagos’s economic growth and job creation would support this target through better tax compliance and structured reforms.

He also spoke about upcoming tax reforms at the federal level, noting that the Joint Tax Board (JTB) would help structure tax administration. He assured that no adverse fiscal policies would be introduced, with the focus remaining on improving compliance and fostering a tax culture.

In a congratulatory letter to Subair, Femi Saheed, who represents Kosofe II Constituency, commended the LIRS team for their approach to revenue collection. He reiterated the Assembly’s commitment to providing legislative support for the Agency.

Read also: FG laments leakages, bureaucracy, renews quest for non-oil revenue

“I extend my heartfelt congratulations to you and your forward-thinking management team for surpassing the N1 trillion revenue mark in 2024. My colleagues and I commend your resilience, transparency, and commitment to excellence. Your achievements bring immense pride to Lagos State, and I am confident that 2025 will be even more rewarding. As a key revenue agency, we remain dedicated to supporting your efforts in achieving greater milestones,” the letter stated.