The Lagos State Internal Revenue Service (LIRS) on Thursday said it
generated more than N120 billion from taxation between January and
June this year.
The Executive Chairman of the service, Mr Tunde Fowler, told the
News Agency of Nigeria (NAN) in Lagos that 90 per cent of the taxes
were generated from the organised private sector and civil servants.
Fowler said that the remaining 10 per cent came from the informal
sector, mostly market women, artisans, commercial drivers and
taxable individuals in the state.
He said the state had relied on the Internally Generated Revenue
(IGR) to implement its budget following the dwindling statutory
allocations.
The chairman said the increase in the IGR to N237 billion in 2013
from N15 billion in 1999 were the fallouts of sustained mobilisation
and tax education in the state.
“In 1999, Lagos State generated N15 billion from IGR but last year it
increased to N237 billion, an increase of N222 billion within 14 year
“There has been a steady growth in tax payment in the state,” he
said.
He projected that this year’s IGR would improve beyond the previous
years.
Fowler also said that any development required money, adding that
the IGR would further bridge the statutory allocation from the Federal
Government.
“Any transformation will require money and you can’t transform
without funding.
“Now that the allocation from the Federal Government is reducing
due to drop in oil revenue, we must look elsewhere to meet up with
our budget,” he said.
He said the generated revenue would be used to ensure the state had
good roads, improve health services and adequate security.
Fowler assured the residents of the state that 200 roads in the state
would be repaired before the 2015 tenure expiration of the
administration.
The chairman urged the residents to endeavour to pay their taxes
regularly, adding that the money was being used to implement the
state’s budget. (NAN)

http://www.vanguardngr.com/2014/07/lagos-generates-n120bn-tax-6-months/

Lagos is working!FP mods

Mtcheew

Yet Fashola collects loan. What does Fashola do with all that money in that small state?