‘Lagos Generates 60% of Nigeria’s Tax Revenue’

The Federal Capital Territory Internal Revenue Service has said 60 per cent of the Federal Government Revenue comes from Lagos State

The Executive Chairman, FCT-IRS, Mr Abdullahi Attah, according to a statement on Wednesday said this when he led a team of 27-man delegate to visit the Lagos State Ministry of Finance for a study on taxation and revenue generation.

He was quoted to have said, “The need to come here is imperative because 60 per cent of Nigerian businesses and the Federal Government revenue come from Lagos State and 60 per cent of Nigeria tax revenue is generated from Lagos. So Lagos is a very important integral part of the nation.

“The essence of this visit is to appeal to the Lagos State officials to assist us in achieving a unified tax system which provides adequate tax information or data that is codified. This can be achieved if Lagos and Abuja collaborate, because we need a system that will drive itself, not manually.”

The Commissioner for Finance, Dr Rabiu Olowo, who was represented by the Permanent Secretary, Ministry of Finance, Mrs Yemi Ayoola, said, “The state government has adopted the use of technology where necessary to reduce physical human interference in the process of revenue collection to aid swift revenue generation.”

Leave A Comment