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General News

Lagos Lawmakers Commend LIRS on Historic N1 Trillion Revenue Milestone

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Legislators in Lagos State have commended the Lagos State Internal Revenue Service (LIRS) for achieving an unprecedented milestone in revenue generation, surpassing ₦1 trillion.

This landmark accomplishment positions LIRS as the first sub-national revenue agency in Nigeria to attain such a feat, reflecting its professionalism, efficiency, and commitment to transparent tax administration.

Former Chairman of the House Committee on Economic Planning and Budgeting, Hon. Lukman Sa’ad Olumoh, alongside Hon. Femi Saheed, former Chairman of the House Committee on Finance, lauded LIRS and its Executive Chairman, Mr. Ayodele Subair, for their exemplary leadership and dedication to enhancing the state’s revenue performance.

In a recent interview, Hon. Lukman Sa’ad Olumoh described the achievement as a testament to the dedication and expertise of the LIRS team. He emphasized that Lagos State has set a benchmark in revenue collection, serving as a model for other states to emulate. Representing the Ajeromi-Ifelodun Constituency 01 in the Lagos State House of Assembly, he praised Mr. 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, Hon. Lukman Sa’ad Olumoh conveyed to Governor Babajide Sanwo-Olu that Lagos State has reached an exceptional level in revenue generation.

He acknowledged LIRS’s historic achievement of surpassing the N1 trillion mark and expressed confidence in the agency’s ability to exceed future targets.

He further urged 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,” Hon. Lukman Sa’ad Olumoh stated.

Looking ahead, Hon. Lukman Sa’ad Olumoh noted that based on LIRS’s consistent performance, the revenue target for 2025 has been set at N1.4 trillion.

He assured that as Lagos’s economy 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 N1.4 trillion for 2025, and I am confident that the agency can surpass this goal. Lagos State has the capacity to generate over N4 trillion 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, Hon. Femi Saheed, who represents Kosofe II Constituency, commended the LIRS team for their 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.

“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.

With this historic achievement, LIRS continues to reinforce its position as a leader in revenue generation, setting new standards for tax administration in Nigeria.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

General News

NASRDA Commences Space Regulation Mandate with N20Bn Fund

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National Space Research and Development Agency (NASRDA) is set to commence the implementation of its space regulation and licensing mandate following the approval of a N20 billion take-off fund by President Bola Tinubu.

NASRDA Commences Space Regulation Mandate with N20Bn Fund

Speaking in an interview, Dr. Matthew Adepoju, director-general, NASRDA, emphasised that the agency’s regulatory functions, as outlined in the NASRDA Act (2010), have remained unfulfilled since its establishment in 1999.

To address this, Adepoju submitted a memorandum to President Tinubu advocating for enforcement of space regulation, leading to the recent approval of funds.

Adepoju highlighted the urgency of regulating Nigeria’s space sector to prevent misuse, particularly regarding security-sensitive activities.

The regulatory framework will oversee:

Satellite image providers

Geographic information system operators

Satellite-based telecommunications and broadcasting services

He warned that unregulated geographical data intelligence could be exploited by non-state actors, underscoring the importance of strict oversight.

NASRDA has set up a licensing platform open to public and private sector operators in the space industry.

The regulation will cover Nigeria’s three space segments:

Upstream – Deep space activities

Midstream – Satellites and orbital objects

Downstream – Ground stations and space service users

Although the agency has yet to access the N20 billion fund, Adepoju confirmed that regulatory and licensing functions have commenced.

 


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General News

Amazon Opens Competition in Satellite Internet Business, Sends Satellites into Space

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Amazon has released more details on Project Kuiper, its plan to establish a satellite internet service resembling Starlink. The first launch of satellites for Amazon’s Kuiper project is set to ascend as soon as April 9, less than a week away.

27 satellites are planned to be deployed using an Atlas V rocket, which will blast off from Cape Canaveral Space Force Station in Florida.

This is just the earliest beginnings of the system, which Amazon says will be made up of 3200 satellites in low-Earth orbit. And that’s just for the “first-generation” system that will provide home internet to, according to Amazon, “virtually any location on the planet”.

Amazon has more than 70 additional launches for Project Kuiper planned over the next few years, including sending satellites on rival SpaceX’s rockets.

“We’ve designed some of the most advanced communications satellites ever built, and every launch is an opportunity to add more capacity and coverage to our network,” says Rajeev Badyal, Vice President of Project Kuiper.

“This will be the first time we’ve flown our final satellite design and the first time we’ve deployed so many satellites at once.”

Despite being quite early on in establishing the satellite array required for a functional satellite internet system, Amazon expects to be able to start offering the service “later this year.”

Project Kuiper vs Starlink

Rival Starlink currently has more than 7000 satellites in low-Earth orbit, and future plans include expanding that array to a count of 34,400.

Starlink has also become the leading provider of space junk, with the company’s satellites falling out of orbit “almost every day” according to Space.com.

Satellite internet services like those of Starlink and Project Kuiper require a satellite receiver, which currently starts at £300 for Starlink models.

Starlink charges £75 a month for home internet, which can provide up to 220Mbps typical internet speeds, according to the company’s website.

Satellite internet can often be a workable solution for homes not covered by optical fibre or 4G/5G mobile internet.

The company has also supplied Ukraine with internet connectivity since Russia invaded Ukraine in 2022.

“My Starlink system is the backbone of the Ukrainian army. Their entire front line would collapse if I turned it off,” SpaceX CEO Elon Musk claimed on X. He has since claimed he does not plan to deactivate Ukraine’s access to the service.


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Nigerian Military Makes History with Africa’s First Attack Drones, Bombs

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Nigerian Military, in partnership with Briech UAS, a communications company, has unveiled the first and largest indigenous attack drones and bombs in Nigeria and Africa.

Nigerian Military Makes History with Africa’s First Attack Drones, Bombs

Briech UAS, alongside the Nigerian Army, demonstrated these attack drones and bombs at the company’s headquarters in Abuja on Wednesday.

General Christopher Musa, chief of Defence Staff (CDS), hailed the initiative as a significant milestone in Nigeria’s progress toward self-reliance in defence technology and a crucial step in enhancing national security.

Musa highlighted the importance of developing combat drones, particularly for intelligence gathering. He pointed out that these drones would play a pivotal role in addressing complex and asymmetric security threats.

“These force multipliers will greatly enhance the operational effectiveness of our military, especially in a world where global politics complicate the procurement of advanced military hardware,” he stated.

“Countries that do not produce these solutions face bureaucratic and diplomatic challenges when acquiring essential platforms. We are directly addressing this challenge.

“If we do not produce what we need, we will be at the mercy of others, even if we have the financial resources to acquire them.

“By manufacturing these drones locally, Nigeria reduces dependence on foreign resources, ensures faster acquisition, and strengthens its ability to respond to security threats swiftly.

“With the brilliant minds we have, particularly among our youth, we can create outstanding technology that competes on a global scale,” Musa said.

Plateau Governor Caleb Mutfwang underlined the importance of supporting indigenous products for Nigeria’s growth.

He stressed that the drones would be vital in safeguarding the country’s sovereignty, particularly in Plateau State, where some of these technologies have already been deployed to enhance the efficiency of ground forces.

Mutfwang also revealed that his state was collaborating with local bomb and drone manufacturers like Briech UAS to counter insurgency with domestically produced weapons.

“As a nation, we made a mistake by allowing non-state actors to acquire capabilities nearly on par with state actors,” he stated.

“We’ve entered into a partnership that has led to the deployment of these facilities in our state. We’ve seen substantial improvements in the effectiveness of our security forces.

“It was a mistake to let non-state actors gather capabilities that could almost overpower legitimate state forces. We must correct that imbalance.

“We must ensure no one within our borders has capabilities that surpass or match those responsible for protecting our national sovereignty,” he added.

Earlier, Dr Bright Echefu, chairman of Briech UAS, noted that insurgent groups like Boko Haram and ISWAP have been using commercial drones for reconnaissance and attacks.

“These drones have been used to track and attack our troops, coordinating ambushes and executing crude aerial strikes,” he said.


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