Lagos State Records Impressive N333.2b IGR in First Quarter of 2025 – Commissioner 

• N242.613 billion of the IGR generated in the first quarter of 2025 in Lagos 
• Oluyomi emphasized Lagos status not only as Nigeria’s economic and financial hub, but also as one of the largest subnational economies in Africa.
• The E-Tax mobile app has been upgraded and migrated to the cloud for more robust, secure, safer access to user data.

The Lagos State Government announced on Monday that it generated a total of N333.209 billion in Internally Generated Revenue (IGR) during the first three months of 2025.

Eko Hot Blog reports that this was disclosed by the Commissioner for Finance, Mr. Abayomi Oluyomi, at a ministerial press briefing commemorating Governor Babajide Sanwo-Olu’s second year in office.

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According to Oluyomi, N242.613 billion of the IGR generated in the first quarter of 2025 came from Pay As You Earn (PAYE) taxes.

He emphasized Lagos’ status not only as Nigeria’s economic and financial hub, but also as one of the largest subnational economies in Africa.

“The state is particularly sensitive to national and global economic fluctuations. To combat this, the Lagos State Ministry of Finance has responded with deliberate and strategic action.

These efforts have not only buffered the state’s finances from external shocks but have also positioned Lagos as a leader in sub-national financial management.”

The Lagos State Internal Revenue Service (LIRS) is actively working to broaden its tax base, seal revenue leaks, and promote long-term revenue growth, according to the Commissioner.

“The LIRS E-Tax platform has been optimised and expanded to include stamp duties, Capital Gains Tax (CGT) filing integration, Geo-Tagging, Report Builder, CAC Integration, and Expatriate tracking through NIS Integration.

“In addition, the E-Tax mobile app has been upgraded and migrated to the cloud for more robust, secure, safer access to user data. LIRS has improved on its multi-level inter-agency collaboration through continuous data sharing and cooperation with Local Governments, State MDAs (LACVIS, LASRAA); Federal MDAs (CAC, NIS, FRSC, NFIU, FIRS-OECD), and Organised Private Sector.

“This has strengthened enforcement and tracking of high-net-worth individuals and businesses. The Withholding Tax (WHT) Compliance Framework has been expanded to include lotteries and winnings.

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“Special focus has also been placed on the outsourcing sector by incorporating outsourcing disclosures in tax audits and requesting top taxpayers to submit outsourcing contracts.”

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