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.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.
The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.
Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
Love Island USA Stars Turn Heads as Season 8 Cast Reunites
Peller’s Sweet Wedding Vows to Jarvis Leave Fans Emotional
Soso Soberekon Offers Peter Okoye ₦500 Million to Fight Paul in Boxing Match
-
Entertainment7 hours agoSpider-Man Movie Review: Fans React to Sadie Sink’s Role
-
Entertainment4 hours agoSoso Soberekon Offers Peter Okoye ₦500 Million to Fight Paul in Boxing Match
-
Entertainment3 hours agoLove Island USA Stars Turn Heads as Season 8 Cast Reunites
-
Entertainment5 hours ago2Baba Sparks Reactions Amid Reports of Marital Drama With Natasha
-
Entertainment4 hours agoPeller’s Sweet Wedding Vows to Jarvis Leave Fans Emotional