Nigeria’s commercial hub and most populous city, Lagos, recently disclosed its revenue for the last fiscal year.
The city, according to its Commissioner for Finance, Abayomi Oluyomi, generated a total revenue of N2.6 trillion ($1.9 billion) in 2025.
The commissioner highlighted the figures at a press briefing held in the state’s capital, Ikeja, on Friday as part of activities commemorating the seventh anniversary of the administration of the state’s current Governor, Babajide Sanwo-Olu.
He noted that “the state’s internally generated revenue rose sharply to N1.87 trillion in 2025, compared to N1.58 trillion in 2024, representing an 18.5 per cent growth.”
As seen in the Punch, the commissioner also revealed that tax revenues increased from N678.13 billion in 2023 to N1.04 trillion in 2024, reflecting a 54.2 per cent increase and marking the first time the Lagos State Internal Revenue Service surpassed the N1 trillion benchmark.
