An internal planning document obtained by SaharaReporters has revealed that Alpha-Beta Consulting LLP, a tax consultancy firm long associated with President Bola Tinubu, has projected a tax revenue target of ₦2.83 trillion for Lagos State in 2026—more than double the state’s previous revenue figures.
The document, titled “2026 Budget and Strategies at Improving IGR,” outlines an aggressive revenue strategy coming at a time when Nigeria is facing widespread economic hardship marked by rising inflation, job losses, business closures, and growing public scepticism about government tax reforms scheduled to take effect in 2026.
According to the figures, Lagos State’s internally generated revenue stood at ₦1.25 trillion as of December 31, 2024, and rose to ₦1.41 trillion by October 31, 2025. The projected jump to ₦2.83 trillion in 2026 represents a significant increase that has raised concerns among tax experts, civil society groups, and small business owners.
Critics fear that the ambitious target could translate into tougher enforcement measures, expanded tax surveillance, and stricter penalties, particularly affecting businesses already struggling to survive.
The document itself acknowledges taxpayer challenges, noting that “some taxpayers are in the habit of making staggered payments in contrary to the tax law”—a practice many businesses have adopted as a coping mechanism during the economic downturn.
Despite the lofty projections, Alpha-Beta admitted to several operational and systemic challenges throughout 2025. These included persistent power outages and network failures at its offices, difficulties monitoring PAYE payments under the Integrated Payroll and Personnel Information System (IPPIS), and problems accessing revenue codes from some Ministries, Departments, and Agencies (MDAs).
The firm also disclosed its inability to obtain data from the Lagos Internal Revenue Service (LIRS) on distressed or defunct companies, a situation it said resulted in wasted work hours and “embarrassment” during enforcement efforts—an admission that contrasts sharply with its revenue expectations.
Additional challenges listed in the document include unresolved technical issues, inadequate and malfunctioning equipment such as laptops and UPS systems, and recurring problems with Ibile Card printing.
Nonetheless, Alpha-Beta described 2025 as a successful year, reporting total revenue generation of ₦1.41 trillion as of October 31. The firm said it facilitated the onboarding of 122 MDAs onto the Lagos Revenue Platform (LRP), monitored 11,762 corporate taxpayers, identified 7,042 new potential taxpayers, and issued 28,628 bulk SMS notices to defaulters before logistical challenges halted the exercise.
The document also claimed growth in the number of active taxpayers, with 570,590 companies paying taxes by October 2025, including 218,258 PAYE contributors. Other reported achievements include adding ₦125.52 million through tax audit reviews, validating over 122,000 tax clearance documents, recovering long-outstanding debts, and cleaning tax records for 23,451 companies.
The revelations come amid heightened national debate over taxation, as Nigerians increasingly question the fairness, timing, and transparency of the Tinubu administration’s proposed fiscal reforms, particularly in light of prevailing economic conditions.
