Economy
LIRS to Leverage Technology, Advocacy to Boost Lagos Revenue
By Modupe Gbadeyanka
The Lagos State Internal Revenue Service (LIRS) has re-echoed its determination to boost the revenue of the state government through technology and advocacy.
The executive chairman of the agency, Mr Ayodele Subair, disclosed that the use of technology has helped to optimise the organisation’s operations while also enhancing revenue generation for the state.
Mr Subair, who was a guest on a public enlightenment television programme on taxation, monitored on Channels Television recently, also stated that effective advocacy can significantly enhance the state’s revenue generation.
“One of the first things we did was to look at the market, the taxpayers and then we did some element of market segmentation, recognising that there are some players in the market who work in an unstructured environment, some work in a structured environment, formal and informal,” the tax expert said the newly launched 30-minute show known as The Tax Talk.
“We looked at the situation where we have high net worth individuals, and then we set up shop to make sure that we plan to cater for the different needs of the different segments of taxpayers.
“So, having done that, we looked at our processes, did a lot of process reengineering, and looked at removing all the things that would make our jobs longer or more difficult.
“We also looked at the staffing arrangements, we looked at human resources and designed a whole set of training programs to ensure that everybody is up to the task,” he averred.
The Tax Talk is an LIRS production that is aired weekly on TVC, Channels TV, LTV and WAP TV.
Speaking further, he said, “We looked at the applications that we had in place in terms of the software. How efficient were they? How easy was it for members of the public to access and also to understand? So, we came up with the e-tax application, which is an end-to-end tax administrative solution.
“It runs through the whole process, right from registration to raising of assessments, up to the filing of tax returns, making payments through the various payment channels, the ability to print out the receipts, and of course, at the end of the day, generate tax clearance certificates. So, with that in place, it’s gone a long way.”
According to him, “If we did not introduce technology, no, doubt, we’re going to have very, very limited success. We have our e-tax, and we also have our IBILE hub software to take care of the informal sector. One of the key features of the IBILE hub software is that it allows instalment payments from members of the sector.
“With the e-tax solution, people no longer have to troop and come to LIRS offices. From the comfort of their homes, they can carry out all their tax business, all the things that had issues in the past, that had problems, that created tension between the public and members of the organization, all these have been taken out completely. And there’s the ease of doing business.
“So, with this, move in that direction, we expect to move the revenue upwards continually. We’re quite confident that we will get there.
“We’re exploring constantly and bringing initiatives on how we can leverage fully on technology. We intend to set up some research units that will delve more into technology to see how it can be relevant to our operations and, of course, to the benefit of taxpayers. We’re constantly looking at how we can make tax experience very easy for members of the public.”
By Aduragbemi Omiyale
The series 1 of the N10 billion Commercial Paper (CP) issuance of Legend Internet Plc recorded an oversubscription of 19.7 per cent from investors.
This reaffirmed the strong confidence in the company’s financial stability and growth trajectory.
The exercise is a critical component of Legend Internet’s N10 billion multi-layered financing programme, designed to support its medium- to long-term growth.
Proceeds are expected to be used for broadband infrastructure expansion to deepen nationwide penetration, optimise the organisation’s working capital for operational efficiency, strategic acquisitions that will strengthen its market position and accelerate service innovation.
The telecommunications firm sees the acceptance of the debt instruments as a response to its performance, credit profile, and disciplined operational structure, noting it also reflects continued trust in its ability to execute on its strategic vision for nationwide digital infrastructure expansion.
“The strong investor participation in our Series 1 Commercial Paper issuance is both encouraging and validating. It demonstrates the market’s belief in our financial integrity, operational strength, and long-term vision for digital infrastructure growth. This support fuels our commitment to building a more connected, competitive, and digitally enabled Nigeria.
“This milestone is not just a financing event; it is a strategic enabler of our expansion plans, working capital needs, and future acquisitions. We extend our sincere appreciation to our investors, advisers, and market partners whose confidence continues to propel Legend Internet forward,” the chief executive of Legend Internet, Ms Aisha Abdulaziz, commented.
Also commenting, the Chief Financial Officer of Legend Internet, Mr Chris Pitan, said, “This achievement is powered by our disciplined financing framework, which enables us to scale sustainably, innovate continuously, and consistently meet the evolving needs of our customers.
“We remain committed to building a future where every connection drives opportunity, productivity, and growth for communities across Nigeria.”
By Adedapo Adesanya
President Bola Tinubu will, on Friday, present the 2026 Appropriation Bill to a joint session of the National Assembly.
The presentation, scheduled for 2:00 pm, was conveyed in a notice issued on Wednesday by the Office of the Clerk to the National Assembly.
According to the notice, all accredited persons are required to be at their duty posts by 11:00 am on the day of the presentation, as access into the National Assembly Complex will be restricted thereafter for security reasons.
The notice, signed by the Secretary, Human Resources and Staff Development, Mr Essien Eyo Essien, on behalf of the Clerk to the National Assembly, urged all concerned to ensure strict compliance with the arrangements ahead of the President’s budget presentation.
The 2026 budget is projected at N54.4 trillion, according to the approved 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
Meanwhile, President Tinubu has asked the National Assembly to repeal and re-enact the 2024 appropriation act in separate letters to the Senate and the House of Representatives on Wednesday and read during plenary by the presiding officers.
The bill was titled Appropriation (Repeal and Re-enactment Bill 2) 2024, involving a total proposed expenditure of N43.56 trillion.
In a letter dated December 16, 2025, the President said the bill seeks authorisation for the issuance of a total sum of N43.56 trillion from the Consolidated Revenue Fund of the Federation for the year ending December 31, 2025.
A breakdown of the proposed expenditure shows N1.74 trillion for statutory transfers, N8.27 trillion for debt service, N11.27 trillion for recurrent (non-debt) expenditure, and N22.28 trillion for capital expenditure and development fund contributions.
The President said the proposed legislation is aimed at ending the practice of running multiple budgets concurrently, while ensuring reasonable – indeed unprecedentedly high – capital performance rates on the 2024 and 2025 capital budgets.
He explained that the bill also provides a transparent and constitutionally grounded framework for consolidating and appropriating critical and time-sensitive expenditures undertaken in response to emergency situations, national security concerns, and other urgent needs.
President Tinubu added that the bill strengthens fiscal discipline and accountability by mandating that funds be released strictly for purposes approved by the National Assembly, restricting virement without prior legislative approval, and setting conditions for corrigenda in cases of genuine implementation errors.
The bill, which passed first and second reading in the House of Representatives, has been referred to the Committee on Appropriations for further legislative action.
By Adedapo Adesanya
The federal government has imposed an immediate nationwide ban on the export of wood and allied products, revoking all previously issued licenses and permits to exporters.
The announcement was made on Wednesday by the Minister of Environment, Mr Balarabe Lawal, during the 18th meeting of the National Council on Environment in Katsina State.
Mr Lawal said the directive, outlined in the Presidential Executive Order titled Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025, became necessary to curb illegal logging and deforestation across the country.
“Nigeria’s forests are central to environmental sustainability, providing clean air and water, supporting livelihoods, conserving biodiversity, and mitigating the effects of climate change,” the Minister said, warning that the continued exportation of wood threatens these benefits and the long-term health of the environment.
The order, published in the Extraordinary Federal Republic of Nigeria Official Gazette No. 180, Vol. 112 of 16 October 2025, relies on Sections 17(2) and 20 of the 1999 Constitution (as amended), which empower the state to protect the environment, forests, and wildlife and prevent the exploitation of natural resources for private gain.
Under the new policy, security agencies and relevant ministries are expected to enforce a total clampdown on illegal logging activities nationwide.
On his part, the Katsina State Deputy Governor, Mr Faruk Lawal Jobe highlighted the state’s history of pioneering socio-economic policies that have influenced national policy. He emphasized the importance of collaboration in addressing environmental challenges across the country.
“Environmental sustainability is critical to achieving growth and improving the quality of life of our people,” he said. “Our administration has prioritised initiatives aimed at combating desertification and promoting afforestation.”
The ban reflects the government’s commitment to safeguarding Nigeria’s shrinking forest cover and addressing climate change, while ensuring sustainable use of natural resources for future generations.
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