CHINA, RUSSIA, IRAN WARSHIPS ARRIVE IN SOUTH AFRICA FOR MILITARY EXERCISES. (PHOTO).

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 China, Russia, Iran warships arrive in South Africa for military exercises Chinese, Russian and Iranian warships arrived in South African waters for a week of naval drills starting Friday off the coast of Cape Town. The Chinese-led drills were organized last year under the BRICS bloc of developing nations and South Africa's armed forces said they will bring members of the bloc together to practice maritime safety and anti-piracy operations and “deepen cooperation.” China, Russia and South Africa are longtime members of BRICS, while Iran joined the group in 2024. It was not immediately clear if other countries from the BRICS group — which also includes Brazil, India and the United Arab Emirates among others — would take part in the drills. A spokesperson for the South African armed forces said he wasn't yet able to confirm all the countries participating in the drills, which are due to run until next Friday. Chinese, Russian and Iranian ships have been seen moving into and out ...
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Y2025 MPB: LAGOS RECORDS 45% REVENUE INCREASE, GENERATES ₦1.3 TRILLION IN 2024.(PHOTO).#PRESS RELEASE.

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 Y2025 MPB: LAGOS RECORDS 45% REVENUE INCREASE, GENERATES ₦1.3 TRILLION IN 2024


Lagos State has demonstrated robust economic growth, generating a record-breaking ₦1.3 trillion in revenue in 2024, marking a significant 45% increase from the ₦895 billion recorded in 2023. 


This impressive financial performance was revealed by the Commissioner for Finance, Mr. Abayomi Oluyomi, during the 2025 Ministerial Press Briefing, held today at the Bagauda Kaltho Press Centre in Alausa, as part of the activities commemorating the second year of Governor Babajide Sanwo-Olu's second term in office.


Commissioner Oluyomi also highlighted the state's success in property tax collection, revealing that over ₦14 billion was generated through the Land Use Charge, representing a substantial 37% rise in property tax revenue compared to the previous year.


Mr. Oluyomi emphasised the pivotal role of the Ministry of Finance in driving the economic growth and development of Lagos State, underscoring its alignment with all pillars of the THEMES Agenda. "The Ministry of Finance serves as the crucial financial backbone that empowers the government to deliver the dividends of democracy to the people of Lagos State," he stated.


He further noted the significant transformation, innovative introductions, and process reviews undertaken by the Ministry of Finance under his leadership, despite prevailing economic challenges over the past two years. The Commissioner also commended the Lagos Internal Revenue Service (LIRS) for its ongoing efforts to expand the tax net, curb leakages, and ensure sustainable revenue growth. 


He highlighted the optimisation and expansion of the LIRS E-Tax Platform to encompass stamp duties, capital gains tax, filing integration, Geo-Tagging, Report Builder, CAC Integration, and expatriate tracking.


In a move to enhance user experience and data security, Mr. Oluyomi announced the upgrade and cloud migration of the E-Tax mobile application, providing more robust and safer access for users.


"Driven by these strategic initiatives, tax revenue generated in the first quarter of 2025 reached ₦333 billion, a significant increase from the ₦232 billion recorded in the first quarter of 2024. This enhanced revenue generation will further fuel the developmental agenda of the Babajide Sanwo-Olu administration," Commissioner Oluyomi affirmed.


The Ministerial Press Briefing is an annual forum where members of the Lagos State Cabinet provide an account of their respective Ministries, Departments, and Agencies' performance, offering insights into the government's scorecard.

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