Nigeria: Lagos State government generated more internal revenue in 2016 than the year before
Tuesday, 25 April 2017 20:55
The Lagos State government generated in 2016 N436.3 billion ($1.4 billion) internal revenue. This exceeds N399.4 billion ($1.2 billion) generated in 2015.
Disclosing this at the ministerial press briefing, Akinyemi Ashade (photo), state commissioner, Ministry of Finance, attributed the positive performance to innovative ideas and continuous sensitization.
In details, the Lagos State Internal Revenue Service (LIRS) generated about 80% of total internal revenue, thus N247.022 billion. Besides, it collected N7 billion from Land Use Charge (LUC) in 2016 (against N6 billion the year before). The LUC is a yearly duty which property owners ought to pay and which is used by the state government to carry out projects and develop the state.
With this mind, the official urged the owners to pay their taxes. Ashade also urged property owners to resort to the Land Use Charge Assessment Appeal Tribunal to solve conflicts instead of going to regular courts.
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
BEAC Tightens Monetary Policy as Central African Bloc’s Foreign Reserves Fall
15:37
-
Guinea-Bissau Halts Involvement in Portuguese-Speaking Bloc Amid Chairmanship Row
15:23
-
From Training Gaps to Job Quality: Why Upskilling Matters for Africa’s Youth
15:21
-
Morocco to Invest $142M in Startup Push, Aims for 1,000 Startups by 2026
15:18
-
Ashoka Fellowship Opens to African Social Entrepreneurs
11:39
-
Indian Commerce Platform Fynd Enters South Africa Via Retail Partnership
11:29
-
Egypt’s Ivoiceup Raises Fresh Capital To Expand In Gulf Markets
11:25
-
Togo Digitizes 29 Energy Services as Part of Public Sector Reform
11:17
-
Stakeholders Rally in Douala to Fast-Track .cm Security as Adoption Lags
10:20
-
Cameroon targets 10% cut in public buildings electricity bill in 2026
10:13
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...
Guinea-Bissau suspends participation in CPLP, foreign ministry says Government cites statute breaches and refusal to recognise its...
As the job market transforms and demands for specialized skills intensify, upskilling is emerging as a critical structural response for strengthening...
Morocco commits 1.3 billion dirhams to support domestic startups Funding targets business creation, venture capital, and Technopark network Programs...
Despite their central role in African trade, ports remain hampered by fragmented, non-comparable data, driving up logistics costs and constraining...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...
(FEZ–MEKNES REGION) - As AFCON 2025 approaches: the Fez-Meknes region is emerging as one of Morocco’s most strategic tourism hubs, offering strong...