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Lagos State Projects N2.96trn Revenue In 2025

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Lagos

Lagos State Projects N2.96trn Revenue In 2025

Lagos State projects N2.96trn revenue in 2025. Ope George, Lagos commissioner for economic planning and budget, says the state is targeting N2.96 trillion revenue in 2025.

George announced the target on Wednesday during the annual ministerial press briefing, marking the second year in office of Babajide Sanwo-Olu, governor of Lagos.

The target is 42.7 percent above the N2.08 trillion revenue recorded by Lagos state government in 2024
George also outlined the ministry’s achievements, highlighting its focus on fostering innovation, data-driven governance, and inclusive planning.

“Our focus is long-term. From strengthening fiscal discipline to expanding access to essential services, every decision is about ensuring no Lagosian is left behind,” the commissioner said.

He also highlighted the strong fiscal growth and responsive budgeting evident in the state’s revenue drive and capacity of the ministry as the engine room of the state’s economic thrust.

“The ministry through the budget department facilitated a significant increase in Lagos state’s total revenue from N2.08 trillion in 2024 to N2.968 trillion (projection) in 2025 — demonstrating improved fiscal planning,” George said.

“The 2024 fiscal year closed with an 87 percent budget performance rate, reflecting prudent fiscal management and efficient implementation across key sectors.”

The commissioner said the government implemented robust social protection measures in response to rising economic pressures.

“N130 billion was disbursed to over 18.5 million Lagosians through various programmes, including the Ounje Eko food subsidy programme, which has enhanced access to affordable, nutritious food for low-income households, as well as transport subsidy allowance following fuel subsidy removal,” George said.

He said the ministry enhanced the delivery of various interventions by integrating the Lagos State Social Register (LASSR) with the national identity number (NIN), improving the accuracy of beneficiary targets.

George added that the ministry launched several digital tools, including the LSDP 2052 implementation reporting dashboard, which tracks over 280 development initiatives across all ministries, departments and agencies (MDAs) in real-time, and the EKO360 app, deployed in all 57 LGAs and 59 MVAA centres to support real-time data collection and reporting.

‘LAGOS SECURED FUNDS FOR FLOATING SOLAR POWER’

The commissioner said that through its partnership with the European Bank for Reconstruction and Development, Lagos has secured funds to implement a floating solar power project, marking strides in environmental resilience and sustainable development.

Also, he said the office of climate change and circular economy has generated over 1,600 jobs, diverted 20,000 kilograms (kg) of waste from landfills, and prevented 10,000 kg of carbon emissions.

The commissioner noted that its programs, Eco-Circulate and ECONexus, are helping over 5,000 small and medium enterprises (SMEs) transition to sustainable, circular business models.

Lagos

Lagos

He further said the 2025 Lagos economic development update (LEDU) affirms Lagos’ status as Africa’s second-largest economy by purchasing power parity (PPP), and Sanwo-Olu’s administration reaffirms its commitment to good governance and inclusive growth.
“Lagos is not just growing—it is evolving into a model of what a 21st-century African city can become,” the commissioner said.

Gbenga Omotoso, commissioner for information and strategy; Lekan Balogun, special adviser to the governor on economic planning and budget; Olayinka Ojo, permanent secretary in the ministry of economic planning and budget; and Olumide Sogunle, permanent secretary in the ministry of information and strategy, along with other top officials from both ministries, attended the conference.

On April 14, the Lagos state government signed a memorandum of understanding (MoU) with the Rural Electrification Agency (REA) to expand solar power generation and distribution across the state.

Crime

Navy Dismantles Illegal Refining Capacity, Destroys Site With 3 Storage Tanks in Rivers

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Troops Destroy 56 Illegal Refining Sites

Navy Dismantles Illegal Refining Capacity, Destroys Site With 3 Storage Tanks in Rivers

The Nigerian Navy, through FOB BONNY, has dismantled an illegal refining site discovered in Promise Land Community along Nanabie Creek, Bonny Local Government Area of Rivers State, further denying criminal operators the infrastructure required to process stolen crude oil.
Eereporter.com

The site was discovered on 30 September 2026 following credible intelligence and comprised one large cooking pot and 3 large storage tanks intended for illegal refining activities. On 2 October 2026, the Commanding Officer, FOB BONNY, Captain SMC Umeh, led a team to the location, where the illegal refining site and associated equipment were destroyed in accordance with established regulations.

The intervention represents a further disruption of illegal refining capacity within the Bonny area, particularly by removing infrastructure that could be used to process and store stolen crude oil. It also follows recent operations by FOB BONNY under Operation DELTA SENTINEL that uncovered substantial volumes of suspected stolen crude oil and associated illegal refining infrastructure within its Area of Operations

Troops Destroy 56 Illegal Refining Sites

Oil

The Nigerian Navy has continued to strengthen surveillance and monitoring across the area to prevent the establishment or reactivation of illegal refining sites and deny criminal operators the infrastructure required to sustain crude oil theft and related activities.

ABIODUN FOLORUNSHO

Navy Captain

Director Naval Information

Nigerian Navy
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Economy

NNPC Ltd Offers N66 Fuel Discount Throughout the Nation

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NNPC

NNPC Ltd Offers N66 Fuel Discount Throughout the Nation

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has unveiled a nationwide ₦66 fuel discount promotion for customers using the NNPC Fuel App.
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In a post obtained from its X handle on Friday, the promotion, which runs from October 1 to 7, is being held across NNPC stations nationwide as part of activities marking the period.

“The ₦66 Discount Promo is ongoing & the excitement is already happening across our stations nationwide!

“All over Nigeria, our customers are getting in on the action & there’s still time for you to benefit!

The promo runs from 1–7 October on the NNPC Fuel App,” the post read.

NNPC said customers across the country have already begun participating in the promotion, with highlights from the first day showing activities at several stations.

“Keep fueling, keep transacting and keep your eyes on our pages,” the post read.

NNPC

NNPC

NNPC also shared moments from the first day of the promotion and said more pictures and activities from stations across the country would be released.

The company urged customers not to miss the opportunity to participate before the promotion ends on October 7.

The ₦66 discount offer is available through the NNPC Fuel App during the stated promotional period.
Eereporter.com

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Economy

President Tinubu Tells EFCC: You Have Justified my Confidence in You

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EFCC Arraigns Gidado Ibrahim

President Tinubu Tells EFCC: You Have Justified my Confidence in You

President Bola Ahmed Tinubu has applauded the efforts and performance of the Economic and Financial Crimes Commission, EFCC, in tackling economic and financial crimes and other acts of corruption in the country, stressing that it has justified the confidence reposed on it.
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He gave this commendation on Friday, October 2, 2026 in Awka, Anambra State at the commissioning of a new Zonal Directorate of the EFCC. The President pointed out that there are evidential proofs of the success of the Commission in convictions, recoveries and other landmark achievements

Represented by Honourable Tajudeen Abbas, Speaker, House of Representatives, Tinubu noted that “supporting the EFCC is not particularly difficult. The agency has consistently demonstrated that the confidence reposed on it is well founded. Without mincing words, the evidential proof of the EFCC’s success speaks loudly in convictions secured, assets and properties recovered”

He affirmed that the strides of the Commission are in tandem with the Renewed Hope Agenda of his administration.

“When we came in three years ago, I highlighted nine major focal areas of my administration. Two of which are reforming the economy for sustained and inclusive growth and promotion of good governance. The anti-graft agency compliments this agenda as they are focused on accountability and transparency and appropriate deployment of resources”, he said.

At the commissioning, the Executive Chairman of the EFCC, Mr. Ola Olukoyede restated the commitment of the Commission to preventive frameworks in tackling economic and financial crimes and other acts of corruption in the country.

According to him, the Commission will continue its focus on making corrupt practices difficult by blocking avenues through which they may happen.

“This new Directorate will not only enforce the law professionally and courageously, it will be high on corruption prevention. It will engage government institutions, businesses, financial institutions, professional bodies, schools, markets, civil society organisations, traditional institutions, religious bodies and communities. It will educate stakeholders, build relationships and mobilise the people to own the fight against all forms of corrupt practices in the zone”, he said

He assured Nigerians that the EFCC would not relent in the pursuit of its mandate, recalling the achievements of the Commission in the last 34 months and describing them as impressive progress.

“The pursuit of our mandate has been our dominant engagement and in the past few years, we have made impressive progress. Between October 2023 and July 2026, the Commission received 49, 673 petitions, investigated 39, 615 cases, filed 14, 476 cases in court and secured 10, 872 convictions. This gives a conviction-to-filing ratio of 75.1 percent. In the first half of 2026 alone, we recorded 1, 370 convictions from 1, 889 filings. The Commission also recorded recoveries of N1, 233, 612, 040, 411. 11, $684, 478, 457. 32, £373, 905. 78, €9, 343, 803. 66 inn addition to recoveries in other currencies”, he said.

He noted that at the institutional level, the Commission has made radical reforms that have been yielding optimal results as there are consequential improvements in the agency’s processes and procedures, which partly explains the impacts the EFCC has made and will continue to make in all the matrices of law enforcement.

“Reforms that have strengthened the Commission during the period include new guidelines on arrest and bail, a review of sting operations, the establishment of the Department of Fraud Risk Assessment and Control, the Security Department, the Immigration and Visa Section and the Cybercrime Rapid Response Centre”, he said.

While charging Ndi Anambra on whistleblowing, the anti-graft czar said that the Commission has established channels through which members of the public can submit petitions and provide information. He noted that the Commission’s Eagle Eye App allows citizens to provide details of suspected wrongdoing and makes the provision of an informant’s personal details optional. “However, whistleblowing must be responsible and based on facts. It must not become an instrument for settling scores”, he said.

EFCC Arraigns Gidado Ibrahim

EFCC

He thereafter said that Anambra and Imo States deserve effective and responsive institutional presence as they are renowned for enterprise, innovation, commerce and an extraordinary culture of industry, adding that these legitimate activities must be protected from fraud, cybercrime, money laundering, investment fraud, diversion of public resources and other forms of economic and financial crimes. “Therefore, our coming to Awka is beyond geographical expansion. It is about taking the mandate of the EFCC closer to the people and closer to the economic activities we are meant to protect”, he said.

In their remarks, His Excellencies, Professor Chukwuma Soludo, Governor of Anambra State and Senator Hope Uzodinma, Governor of Imo State said that they were pleased with the activities and management of the EFCC under the leadership of Olukoyede. They pledged their support to the Commission as it opened a new Zonal Directorate in their domain.

The commissioning of the new Directorate witnessed massive turn out of distinguished Nigerians, including members of the National Assembly, civil society organisations, community leaders, students, media among others.
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