Members of the Lagos State House of Assembly, have commended the State’s Internal Revenue Service (LIRS) for the landmark accomplishment of generating over ₦1tr in 2024.
This, the lawmakers noted makes LIRS the first sub-national revenue agency in the country to attain such a feat, reflecting a combination of professionalism, efficiency, and commitment to transparent tax administration.
Former Chairman of the House Committee on Economic Planning and Budgeting, Lukman Sa’ad Olumoh, alongside Femi Saheed, former Chairman of the House Committee on Finance, lauded the LIRS and its Executive Chairman, Ayodele Subair, for their exemplary leadership and dedication to enhancing the state’s revenue performance.
Speaking recently in an interview, Olumoh described the achievement as a testament to the dedication and expertise of the LIRS team, emphasizing that Lagos State has set a benchmark in revenue collection, serving as a model for other states to emulate.
The representative of the Ajeromi-Ifelodun Constituency 01 in the State House of Assembly, praised Subair for fostering a culture of efficiency and innovation within the agency, which has significantly contributed to its success.
Speaking during the 2024 budget signing ceremony, Olumoh conveyed to Governor Babajide Sanwo-Olu that Lagos State has reached an exceptional level in revenue generation.
He acknowledged LIRS’ historic achievement of surpassing the N1tr mark and expressed confidence in the agency’s ability to exceed future targets, urging the state government to sustain its support for LIRS, emphasizing that continued improvements in revenue collection could reduce reliance on external borrowing.
“You cannot expect remarkable results without placing the right people in key positions. LIRS is managed by a team of highly skilled professionals. While it operates as a government agency, its structure and operations reflect global best practices. The agency has evolved into a world-class institution, moving from Good Shepherd’s House to the state-of-the-art Revenue House.
“A visit to its facilities will reveal an environment that fosters excellence. 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,” he stressed.
Looking ahead, he noted that based on LIRS’s consistent performance, the revenue target for 2025 has been set at N1.4tr, assuring that as the economy of Lagos continues to expand and more employment opportunities are created, this growth in revenue collection would not impose additional burdens on residents but rather result from enhanced tax compliance and structured reforms.
“LIRS has demonstrated steady growth over the past five years. We have set a revenue target of N1.4tr for 2025, and I am confident that the agency can surpass this goal. Lagos State has the capacity to generate over N4tr in internal revenue without negatively impacting its residents,” he added.
He also highlighted the role of upcoming tax reforms at the federal level, noting that the Joint Tax Board (JTB) would ensure a well-structured tax administration system. He reassured the public that no adverse fiscal policies would be introduced, emphasizing that the focus remains on improving compliance and fostering a positive tax culture.
In a formal congratulatory letter addressed to Mr. Subair, Saheed, who represents Kosofe II Constituency, commended the LIRS team for its dedication, resilience, and strategic approach to revenue collection. He reiterated the Lagos State House of Assembly’s commitment to providing the necessary legislative support to enable the agency to achieve even greater success.
