Tags : Lagos

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Explainer: VAT War Might Crush States Revenue

Value Added Tax, according to the Federal Inland Revenue Service, is a consumption tax paid when goods are purchased and services rendered. It is borne by the final consumer; that is all goods and services, both produced within or imported into the country, are taxable- except those exempted by the… You must be registered to […]Read More

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INFOGRAPHICS: How Capital Importation Fell In Three Months

The National Bureau of Statistics reported that the total value of capital importation into Nigeria fell to $875.62 million in the second quarter of 2021. Between January to March of the same year, Nigeria had a capital importation of $1.91 billion. The bureau stated that this represented a decrease of… You must be registered to […]Read More

IGR: Only Three States Fiscally Sustainable

Following the release of the Internally Generated Revenue by states, the report has shown that only Lagos, the Federal Capital Territory (FCT) and Ogun State are fiscally sustainable. According to the ‘Internally Generated Revenue At State Level – Q4 and full-year 2020 report‘ released by the National Bureau of Statistics (NBS), the 36 states of […]Read More

Lagos Vaccinate Over 12,000 Residents In Two Days

Lagos State has vaccinated a total of 12,720 people in two days of the commencement of its vaccination exercise. The state, which had flagged off its vaccination exercise, disclosed that 268 persons were vaccinated on March 12 and 4,954 received the shot on March 15 and the cumulative total rose to 12,720 on March 17. […]Read More

Nigerian State Total Domestic Debt Increases By 84 Billion

The latest data from the debt management office shows that 12 states were able to reduce their local debt in the last 12 months with Kogi reducing its domestic debt stock by 59.15 billion Naira. The decline from these states couldn’t affect the total domestic debt from all 36 states including the FCT as the […]Read More

FAAC: Lagos State Still Self Sufficient

The economy of Lagos is very crucial to the Nigerian economy serving as the commercial capital of the country over the years. The Lagos Gross Domestic Product [GDP] accounts for 26.7% of Nigeria’s total GDP and more than 50% of non-oil GDP. Over 50% of Nigeria’s non-oil industrial capacity is located in Lagos. Ranking among […]Read More

Second Wave of COVID-19 Threatens Lagos Economy

Nigeria’s economic capital, Lagos State, might need to initiate additional control measures to control the spread of coronavirus, as the state, just in five days of the new year recorded over two thousand cases of the virus. Lagos State, known for industrialization, has championed Nigeria’s economy with increasing capital investment, internally generated revenue, infrastructural and […]Read More