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Nairaland Forum / Nairaland / General / Business / Ayodele Subair: 70% Of Lagos IGR Comes From Taxes (10648 Views)
Nigerian Economy “Loses N20 Trillion” As 70% Of Cash Sucked Away From Economy / Lagos IGR Hits N103.4bn In First Quarter Year 2018 / Why HITV Failed, By Toyin Subair, Former CEO Of Hitv (2) (3) (4)
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Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by dipoolowoo: 7:07pm On Nov 02, 2022 |
By Dipo Olowookere The executive chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair, has said about 70 per cent of the state’s Internally Generated Revenue (IGR) comes from taxes paid by individuals and organisations doing business in the metropolis.https://businesspost.ng/economy/70-of-lagos-igr-comes-from-taxes-lirs-chairman/ 9 Likes 2 Shares
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by gozmok1(m): 7:15pm On Nov 02, 2022 |
I DEDICATE THIS first comment to OBIDATTI ✅✅ OUR ONLY HOPE 2023 Do you know that Lagos economy is bigger than some African countries economy join together? All statistics combined, Lagos remain the richest state in Nigeria. Do you wonder why there is massive infrastructural development in Ebonyi or Rivers State? Why is Sanwo Olu, the Governor of Lagos not performing like El Rufai of Kaduna or Zulu’s of Borneo; war and bandits ravaged States? Godfatherism is the only answer. For the past 22years, one man, yes one man has cornered Lagos. Amassing its wealth for himself while Lagosians suffer untold hardship. Before you make excuses for him, Lagos was the number one metropolitan city even at independence of 1960. Lagos was the Federal Capital Territory for years before it was moved to Abuja, and so has large chump of our national assets and infrastructures which generates billions to both the federal and state coffers. Intentional Oil companies (IOCS) doing oil exploration in the Niger Delta has their offices either in Abuja or Lagos till date. Tinubu is milking Lagos dry and the poor man on the street does not benefit one bit. Where is Lagos money going. Is it Tinubu’s pocket? If he becomes the president of a country like Nigeria, what do you think will happen. Lagos is beautiful today but sit has always been beautiful before 1960. If we allow religion or ethnicity to make you allow thieves into government, the poor will be worse affected. 118 Likes 7 Shares |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by mrsage(m): 12:47am On Nov 03, 2022 |
Taxation is serious business. Yet a huge number of individuals and companies still do not pay taxes in Lagos especially MSME's and those in the informal sector. An average Mechanic, vulcanizer, fashion designer or carpenter in Lagos does not pay tax. 10 Likes 2 Shares |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Konquest: 3:02am On Nov 03, 2022 |
dipoolowoo:That's truly impressive. 1 Like 1 Share |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by FreeStuffsNG: 6:51am On Nov 03, 2022 |
dipoolowoo:Awesome!! Please bring your investments to Lagos State. Your investments are safe and you're guaranteed of a working business environment. Please join others already doing so. Lagos is the right place to site your investments. You, your family and investments are safe in Lagos. Please invest in Lagos today. Thank you. 8 Likes
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by abc115: 6:51am On Nov 03, 2022 |
God Bless Incoming President Bola Tinubu 29 Likes 8 Shares
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by voltron14: 6:51am On Nov 03, 2022 |
![]() They would soon be here. 35 Likes 3 Shares
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by temitope27(m): 6:52am On Nov 03, 2022 |
mrsage:and those with 2x2 shops 14 Likes 4 Shares |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by RingRoadMafia: 6:52am On Nov 03, 2022 |
mrsage: Thiefnubuu does not pay tax, he said so himself. 25 Likes |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Racoon(m): 6:52am On Nov 03, 2022 |
Hehehe! The effect of Tinubu’s statement. And the same amount goes through Alpha-Beta conduit pipe to Burdillion. 1 Like |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by voltron14: 6:53am On Nov 03, 2022 |
![]() 8 Likes 2 Shares
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Donvictor2015: 6:53am On Nov 03, 2022 |
There's too much tax in lagos. And quite a number of the collected tax enters emilokan's account. 19 Likes |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Acidosis(m): 6:53am On Nov 03, 2022 |
mrsage: You're kidding right? A fashion designer with shop in Lagos is not paying tax? 10 Likes |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Alamuseniyan: 6:53am On Nov 03, 2022 |
Is good to pay your tax!!! Pay your tax!!! 4 Likes 1 Share |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by saferoom: 6:53am On Nov 03, 2022 |
Ok |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Igboslayer: 6:54am On Nov 03, 2022 |
S |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by B2B23: 6:54am On Nov 03, 2022 |
![]() Despite our taxes, we see little or nothing in Lagos development. Majority of the development in Lagos are private sector driven and not public. With my numerous businesses and properties in Lagos, one oshogbo or Ogun state man will come and tell me they own Lagos, that I should return to my state of origin. Tilunbu will soon go and we will know who real own Lagos. You that is fighting for one room in your grand father's house or me that inherited properties in highbrow areas of Lagos. Time will tell. 7 Likes |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by sukkot: 6:54am On Nov 03, 2022 |
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Africum: 6:54am On Nov 03, 2022 |
Good thing. Which is why all of Lagos have decided to support the man behind the success story to replicate same all over Nigeria. Watch below https://www.youtube.com/watch?v=GTa9xaODI8s 1 Like 1 Share |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Akfrenzy(m): 6:54am On Nov 03, 2022 |
![]() ![]() ![]() And who owns Alpha beta ? ![]() Who collects 10% after collecting ? ![]() Ur guess is still good as mine 11 Likes
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by RingRoadMafia: 6:55am On Nov 03, 2022 |
voltron14: I support LP, but this has to be the funniest roast picture I've ever seen! ![]() I burst out laughing every single time I see it ![]() ![]() ![]() 1 Like 1 Share |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by PointZerom: 6:55am On Nov 03, 2022 |
![]() By the time you compile the list of these tax payers, you discover that Urchins don't pay tax ![]() ![]() ![]() 3 Likes 1 Share |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Doyou2019: 6:56am On Nov 03, 2022 |
Acidosis:He's a liar. Even sachet water sellers pay neckbreaking dues in Tunibu's Lagos 7 Likes |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Realguyman1(m): 6:56am On Nov 03, 2022 |
mrsage:At the bolded, wetin come be all those money wey I dey see agbero dey come collect everytime for their hand? Is that one for tinubu and his boys or what? 7 Likes |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Igboslayer: 6:56am On Nov 03, 2022 |
gozmok1:You don't even know how to lie...You kept contradicting yourself, Lagos is beautiful on it's own... Na ghost make am beautiful since 1960? Na ghost make am the richest state in Nigeria,... Tell us which of the national assets that's bringing Lagos wealth after it cease to become Federal capital. Why do Oil companies choose to site their head office in Lagos even after it cease to be capital of Nigeria. Why didn't they relocate to Abuja... Make una dey use una sense ooooo. While Lagos was a Federal capital, majority of the mainland was under the administration of the Old Western Region lead by Chief Obafemi Awolowo that established industrial estate all over the region including Lagos State by taking advantage of the proximity of the Apapa port and road/railway network connecting the Northern part and the East. Awolowo through the Western Nigeria Development Corporation! (WNDC) attracted many foreign companies to Lagos. Only the Island, Ikoyi and some parts of Isale Eko where under Federal administration until after the civil war when states assets of the old western region properties where converted into federal properties and majority of the mainland were later annexed as part of the federal capital. WNDC attracted many foreign companies through aggressive drive towards development by the Western Region, the federal government only assisted many of such foreign companies with tax free holiday, and recouping of their profits as demanded by law. Many of the companies where in part ownership with the (WNDC), Who provided loans, Land and other enabling infrastructure for many of such companies to thrive. Public - Private partnerships of the Western region was so effective, many of the companies in Lagos state where Co owned by the Wester Region until acquisition by the federal government that lead to many of their collapse due to nepotism and poor management. The Partnership between Western region and Foreign Capitalists Entrepreneurs lead to the acquisition and construction of 31acres Industrial Estate located at Ikeja complete with standard amenities where most of the foreign companies located their operational headquarters. As a result there were about 30 ventures formed by the WNDC in partnerships with individuals and corporate entities especially foreign companies. Many of the companies were principally managed by expatriates. The assets and liabilities of the companies were shared according to each partner’s equity. Among these companies were the 1. Nigerian Plastics Company (50% Held by WNDC UAC 35%) 2. Nigerian Water Resources Development Company (60% WNDC, Israeli Co. 40%) 3. Nigersol Construction Company (60% WNDC, Israeli Co. 40%) 4. Nidogas (30% WNDC, Nidogas 60%) 5. Nigerian Pre- Stressed Concrete Company (20% WNDC, CFAO 40%) 6. Crittal Hope Nigerian Ltd (22.5% WNDC, John Holt 22.5%) 7. Vono (West Africa) (15% WNDC, UAC 30%) 8. Tower Aluminum, (35% WNDC) 9. Asbestos Cement Products (43% WNDC, MMS. 8.8%) 10. West African Portland Cement Company 11. Nigerian Textile Mills 12. Nigerian Mosiac And Glass Manufacturing Company 13. Nigerian Electronics 14. Premier Tobacco Company 15. Nigerian Petroleum Refinery Company 16. Galvanizing Industries, 17. Guinness Nigerian Limited 18. Vegetable Oils – Nigeria. As at 1965, the Corporation (WNDC) had invested over £6m in these companies. For the establishment of Pepsi Cola, the Export-Import Bank of America agreed to provide A.G Leventis funds to form a partnership with the Western Region Government. The family of Obafemi Awolowo benefited from this venture as his wife was made the sole distributor of Pepsi products in Western Region. The soft drink was seen as the official drink of Western Nigerian Government. The partnerships became one of the most successful ventures that enamoured the industrial economy of Western Nigeria from the 1960s. The Tower Aluminum (Nigeria), the WNDC invested ₤29,000 as part of Tower Aluminum’s equity share of ₤125,000. Midland Spinning Company invested ₤63,000, Aluminum Union had equity of ₤32,000 and Akinloye Aboderin ₤1,000. It was also one of the economic missions of the Western Region Government that resulted in the establishment of the Nigerian Mosaic, Glass Manufacturing Company and others in the region. The Mosaics and Glass Manufacturing company (MGMC) was a joint venture owned by WNDC, Adebayo Doherty and Oduntola. The equity capital outlay of the MGMC was ₤64,572 out of which the WNDC held ₤20,000, while Adeboya Doherty held ₤25,000 shares. The WNDC invested in the Nigerian Pre-Stressed Concrete Company (NPSCC), the sum of ₤50,000. Other partners of the Nigerian Pre- Stressed Concrete Company were the CFAO with ₤20,000 share capital in the company and Taylor Wood and UAC that had ₤20,000 equity Assests like NTA, Radio Nigeria etc where all former assets of Western region that was converted to federal assets. Western region paid and suffered more in Lagos state than what Lagos state presently benefits. Igbos developing Lagos State is the most foolish thought ever to be propagated by urchins wishing they own the beautiful foundation provided by Western Region of Nigeria. The legacy of Awolowo still reverberates. 11 Likes 2 Shares |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by jamace(m): 6:56am On Nov 03, 2022 |
abc115: 1 Like
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by inoki247: 6:56am On Nov 03, 2022 |
ok |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Mrexpress(m): 6:56am On Nov 03, 2022 |
While about 50% of expected Lagos IGR is likely lost to Lagos APC militants (agberos) ![]() Check my Signature |
Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by sukkot: 6:56am On Nov 03, 2022 |
voltron14:nna mehnnnnnnnn thats anambra polytechnic ? peter obi needs to be stripped naked in anambra market square and flogged with 77 lashes with horse whip for being a failure to anambrans 12 Likes 2 Shares
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by Crusadee: 6:57am On Nov 03, 2022 |
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Re: Ayodele Subair: 70% Of Lagos IGR Comes From Taxes by mytime24(f): 6:58am On Nov 03, 2022 |
And 35% goes to tinubu 1 Like |
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