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CANADIAN MAYOR DISCUSS BILATERAL COOPERATION IN TECHNOLOGY

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CANADIAN MAYOR

…Lagos Gov: Investment In Infrastructure, Attraction For Diasporan Investors

The ongoing infrastructural development programme of the Lagos State Government is a deliberate effort to make the State attractive to Diasporan investment, Governor Babajide Sanwo-Olu has said.

Sanwo-Olu said there would be no point requesting Nigerians abroad to come back home to invest if the local business environment was not made to support their aspirations.

The Governor disclosed this while receiving His Worship, Mr. Patrick Brown, the Mayor of Brampton City in Ontario, Canada, who led a delegation to the State House in Alausa on a courtesy visit.

Sanwo-Olu said the Canadian city shared similar history with Lagos, stressing that both cities had grown over the decades to become the hubs of commerce and Information and Communication Technology (ICT).

The Governor acknowledged the efforts made by the Mayor to accelerate more development in Brampton, which hosts a large population of Nigerians. He said Lagos would be seeking bilateral cooperation with the political leadership of the Canadian city in the areas of cyber security, food security and technology among others.

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He said: “It feels great to know how much effort you, as a Mayor of Brampton, are investing in driving more development in your city and this is similar to what we have been doing in Lagos. We have embarked on intensive infrastructural programme to make Lagos more attractive to people in the diaspora to invest in.

“All these efforts will sustain the position of Lagos as the first destination for business and keep our economy growing at a steady pace. Lagos is the tech hub in the sub-Saharan Africa and there are many collaborations we can seal with Brampton in the area of cyber security. Only yesterday (Monday), the State cabinet passed the development of 3,000-kilometre metropolitan fibre initiative all around the city.

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“When this is done, we will be able to leapfrog on this to build several capabilities using technology. It means that we are transforming Lagos to a smart city and city of the future driven by technology. This will also enhance our Ease of Doing Business Policy, which foreign investors and Diaspora can tap into.”

Sanwo-Olu said the smart city initiative of his administration would enhance the capacity of the Government to leverage technology in improving security and drive up tourism potential of the State.

Brown described Nigerians living in Brampton as “resilient people”, saying their influence on the city’s economy and culture contributed to its economic prosperity and social development.

The Mayor welcomed Lagos Governor’s invitation for collaborations in various areas, including education, ICT, agriculture and cyber security.

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THERE’S NO MULTIPLE TAXATION IN LAGOS – SANWO-OLU

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CANADIAN MAYOR

…Gov Urges Citizens To Pay Taxes To Enable Govt Discharge Its Responsibilities

Lagos State Government has reiterated that there is currently no multiple taxation in Lagos State revenue system.

Governor Babajide Sanwo-Olu stated this during a courtesy visit to Lagos House, Ikeja by the Executive Chairman, Federal Inland Revenue Service, (FIRS) Mr. Muhammad Nami.

Placing emphasis on startups, the Governor stated that his administration will always improve on the ease of doing business in the State rather than stifle the economy with loaded taxes.

Mr Sanwo-Olu promised to embrace and support the activities of start-ups who are scared of the tax burden associated with businesses.

He also urged Nigerians to pay their taxes regularly in order for the Government to attain a balanced development at all levels, which according to him, include social infrastructure, security among others.

The Governor promised that Lagos State Government would continue with the existing relationship and further collaborate with the Federal Inland revenue Service in sharing information to aid revenue collection and ensure deliverables were met.

Sanwo-Olu lauded the Federal Government for considering the starte up businesses in the exemption threshold on taxation.

He said: “we will make sure that there is ease of doing businesses, especially start-ups, that are always scared that they have multiple taxation. There is nothing like multiple taxation in Lagos.

“It is clear that they are exempted but that doesn’t stop them from doing proper filing and ensure transparent reporting at whichever level of their business.

“We will also use this opportunity to encourage our citizens that it is only when they play their own part as responsible citizens both at the corporate and individual level that the government can come up and discharge its responsibilities.

“Development is by tax and it is only when we collect reasonably amount of tax that we can introduce development both at infrastructure level and more importantly on security so we cannot but ensure that we collaborate and corporate with you,” he said.

Responding to the Chairman on the N8.5 trillion target set by the President, Governor Sanwo-Olu said the country has the capacity to generate such amount but warned that it must be done cautiously.

Also speaking on the ongoing Federal Account Allocation Committee (FAAC) 2020 meeting holding for the first time in Lagos, Sanwo-Olu said it was an opportunity to deliberate on the proceeds that State gets from the Federal Government was used judiciously.

He said: “I am sure they know clearly that you can live up to those bills and 8.5 trillion sounds a lot but they know you have the capacity.

The Executive Chairman, Federal Inland Revenue Service, FIRS, said the aim of the visit was to ensure effective performance of the service in meeting its target and in its request to share information, collaborate in building capacity as well as engage private sector on the Value Added Tax collection.

“We feel without this collaboration, we cannot generate this 8.5 trillion that we have been mandated by the President to generate,” he said.

 

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Also Read:  SANWO-OLU, TINUBU, OBANIKORO RECEIVES "EXCELLENCE AWARD"
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SANWO-OLU CALLS FOR NEW REVENUE SOURCES, SHARING FORMULA

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CANADIAN MAYOR

Lagos State Governor, Babajide Sanwo-Olu has called for the creation and boosting of new sources of export in Nigeria’s bid to meet the yearning and aspiration of Nigerians just as he demanded a fair and just revenue sharing formula.

Speaking through his Deputy, Dr. Obafemi Hamzat at the opening ceremony of the Federations Accounts Allocation Committee’s Retreat being hosted by Lagos State, he declared: “We must do everything within our power to create and boost new sources of export, especially along the lines of value-added agriculture and manufacturing’’.

He urged State Governments to “explore ways of reducing dependency on what comes from the federation account on monthly basis by adopting creative and innovative strategies to boost IGR’’.

While calling for innovative strategies by State Governments in the area of internally generated revenue, the Governor called for “a new fair and just revenue-sharing formula for federation revenues’’.

He added “there is actually a correlation between an appropriate revenue formula and the ability of federating units to achieve a meaningful diversification and sustainable growth in IGR’’.

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Declaring further that Lagos deserves a special status funding, Sanwo-Olu said “Lagos shoulders a heavy burden, which if not properly discharged poses great danger to the attainment of our national economic growth aspirations’’.

He stated that Lagos needs help if it is to be able to meet the challenges of half a million people migrating into Lagos daily.

According to the Governor, the new revenue formula should take cognisance of population density in addition to nominal population while also increasing Lagos’s Share of VAT. He decried Lagos getting 10% of VAT while contributing 55% as equitable.

Speaking earlier, the Minister of Finance, Budget & National Planning, Hajia Zainab Shamsuna Ahmed while praising the synergy between the federal and all other tiers of government urge States to consider IGR as a critical instrument of funding by blocking leakages and ensure effective and efficient collection of revenue.

She further stated that the introduction of State’s Fiscal Transparency, Accountability and Sustainability (SFIAS) in partnership with World Bank was to strengthen fiscal discipline and financial stability. She added that a regime of peer learning will help States in revenue drive.

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While acknowledging States’ interest and efforts to meet the eligibility criteria and conditions for Disbursement Linked Indicators, the Minister said States will soon benefit from the grants.

She further explained that the Federal Government is committed to achieving a revenue to GDP rate 15% in the medium term adding that there will be efforts to improve investment in agriculture and industry as well as curtail imports.

In his welcome address, Benue State Commissioner of Finance who is also the Chairman, Forum of Commissioners of Finance, Hon David Olofu described the retreat as a training for all new members.

He noted that the retreats theme, Efficient Federation Revenue Allocation as a Nexus for Economic Diversification is a pointer to the “need for a synchronised consistent and sustained effort at all levels to diversify the economy and provide opportunities for our people’’.

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Tinubu 2023 Presidency Would Be Illogical, Most Disruptive-Bode George

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The former deputy national chairman of the Peoples Democratic Party (PDP), Bode George has described a 2023 Tinubu presidency as illogical and most disruptive.

George said this during an interview with Punchng.com published on Sunday, February 16.

Bola Tinubu

“It would be the most illogical and most disruptive issue to have him (Tinubu) elected as President,” he said.

The PDP stalwart, who intends to contest the 2023 presidential election attacked Tinubu, adding he was throwing an open challenge to him.

George, who acknowledged the fact that PDP required remodelling and confirmed that the party would be beaten stupid at elections if it continues as it is, stated that if the PDP’s zoning formula for the presidency points to the South, it should be given to the Southeast because they have never had it, adding that if the name Tinubu pops up in the APC, he would go all out to contest with him.

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He also said that he would dump Nigeria for Togo if the national leader of the All Progressives Congress (APC), Bola Tinubu, wins the presidential election in 2023.

“If this happens, I will disown Nigeria to take the citizenship of Togo or any other country. Look, what this fellow did in my state, all the lies and the most painful thing was that on the day of the election (2019 election) two bullion vans drove in the daylight to his house and what did Professor Itse Sagay say, that he (Tinubu) had been a very wealthy man before. Where was he wealthy?”

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Meanwhile, Tinubu has not declared interest in contesting for the position.

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