Business
Lagos State Plans to Tax Remote Workers to Boost Revenue to N5 Trillion
The Lagos State government has unveiled a plan to impose taxes on remote workers, aiming to generate approximately N200 billion from the digital sector and other revenue sources.
This initiative is part of a broader strategy outlined in a recent document released at the Eko Revenue Plus Summit.
The government’s objective is to boost Lagos State’s internally generated revenue (IGR) to N5 trillion during the current administration.
Achieving this ambitious goal requires a multifaceted approach that includes harnessing technology, enhancing tax administration, broadening the tax base, and exploring new sources of revenue, particularly within the digital ecosystem.
The strategy also involves optimizing existing processes and seeking innovative non-tax revenue opportunities.
In recent years, Lagos has consistently led in IGR performance. According to the National Bureau of Statistics, the state achieved the highest internal revenue collection in 2022, totaling N651 billion.
This new plan reflects the government’s commitment to leveraging technological advancements and expanding revenue streams to sustain and grow its financial resources.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
Nigerians react as a user claims and shares that the price of rice in Nigeria is already reducing.
“Rice prices are finally dropping, minimum wage can buy a bag now. Step by step, we’re getting there. Nigeria will work in our lifetime.”
It can be noted that rice was sold at ₦85k to ₦90k, however, according to a market survey, the price of rice has dropped to ₦56k to ₦62k.
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