Lagos Lawmakers Commend LIRS on Historic N1 Trillion Income Milestone

Legislators in Lagos State have counseled the Lagos State Inside Income Service (LIRS) for attaining an unprecedented milestone in income technology, surpassing ₦1 trillion. This landmark accomplishment positions LIRS as the primary sub-national income company in Nigeria to achieve such a feat, reflecting its professionalism, effectivity, and dedication to clear tax administration.

Former Chairman of the Home Committee on Financial Planning and Budgeting, Hon. Lukman Sa’advert Olumoh, alongside Hon. Femi Saheed, former Chairman of the Home Committee on Finance, lauded LIRS and its Govt Chairman, Mr. Ayodele Subair, for his or her exemplary management and dedication to enhancing the state’s income efficiency.

In a latest interview, Hon. Lukman Sa’advert Olumoh described the achievement as a testomony to the dedication and experience of the LIRS workforce. He emphasised that Lagos State has set a benchmark in income assortment, serving as a mannequin for different states to emulate. Representing the Ajeromi-Ifelodun Constituency 01 within the Lagos State Home of Meeting, he praised Mr. Subair for fostering a tradition of effectivity and innovation throughout the company, which has considerably contributed to its success.

Talking through the 2024 finances signing ceremony, Hon. Lukman Sa’advert Olumoh conveyed to Governor Babajide Sanwo-Olu that Lagos State has reached an distinctive stage in income technology. He acknowledged LIRS’s historic achievement of surpassing the N1 trillion mark and expressed confidence within the company’s potential to exceed future targets. He additional urged the state authorities to maintain its help for LIRS, emphasizing that continued enhancements in income assortment may cut back reliance on exterior borrowing.

“You can not count on outstanding outcomes with out putting the proper folks in key positions. LIRS is managed by a workforce of extremely expert professionals. Whereas it operates as a authorities company, its construction and operations mirror international greatest practices. The company has advanced right into a world-class establishment, transferring from Good Shepherd’s Home to the state-of-the-art Income Home. A go to to its amenities will reveal an surroundings that fosters excellence. Below the management of Mr. Ayodele Subair, a visionary and devoted skilled, LIRS has achieved outstanding success. The company’s work tradition and improved operational surroundings have been instrumental in reaching this milestone,” Hon. Lukman Sa’advert Olumoh said.

Wanting forward, Hon. Lukman Sa’advert Olumoh famous that primarily based on LIRS’s constant efficiency, the income goal for 2025 has been set at N1.4 trillion. He assured that as Lagos’s economic system continues to increase and extra employment alternatives are created, this progress in income assortment wouldn’t impose extra burdens on residents however reasonably end result from enhanced tax compliance and structured reforms.

“LIRS has demonstrated regular progress over the previous 5 years. Now we have set a income goal of N1.4 trillion for 2025, and I’m assured that the company can surpass this objective. Lagos State has the capability to generate over N4 trillion in inside income with out negatively impacting its residents,” he added.

He additionally highlighted the function of upcoming tax reforms on the federal stage, noting that the Joint Tax Board (JTB) would guarantee a well-structured tax administration system. He reassured the general public that no hostile fiscal insurance policies can be launched, emphasizing that the main target stays on enhancing compliance and fostering a optimistic tax tradition.

In a proper congratulatory letter addressed to Mr. Subair, Hon. Femi Saheed, who represents Kosofe II Constituency, counseled the LIRS workforce for his or her dedication, resilience, and strategic method to income assortment. He reiterated the Lagos State Home of Meeting’s dedication to offering the required legislative help to allow the company to attain even higher success.

“I prolong my heartfelt congratulations to you and your forward-thinking administration workforce for surpassing the N1 trillion income mark in 2024. My colleagues and I commend your resilience, transparency, and dedication to excellence. Your achievements deliver immense satisfaction to Lagos State, and I’m assured that 2025 will probably be much more rewarding. As a key income company, we stay devoted to supporting your efforts in attaining higher milestones,” the letter said.

With this historic achievement, LIRS continues to strengthen its place as a frontrunner in income technology, setting new requirements for tax administration in Nigeria.