- The Federal Ministry of Industry, Trade and Investment has been leading efforts to promote industrial growth and trade within Nigeria.
- Leading tax reform efforts for the country.
- Lagos State Government organized training sessions regarding the implications of new tax laws for revenue harmonization.
Ogun State Politician Vows to Recover Corporate Taxes Remitted to Lagos
What happened
Senator Olamilekan Adeola, an All Progressives Congress governorship candidate in Ogun State, stated that corporate taxes generated by industrial entities in Ogun State are often remitted to Lagos State. Adeola argued that this structural tax leakage prevents Ogun State's internally generated revenue from reflecting its extensive industrial base.
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Why it matters
Adeola noted that while manufacturing plants are located in Ogun State, the corporate headquarters and high-earning directors are often situated in Lagos. This arrangement means that the return on investment for businesses establishing themselves in Ogun State is diminished because the top-level taxes are paid to Lagos State.
The Lagos State Government has been organizing training sessions regarding the implications of new tax laws for revenue harmonization as part of broader tax reform efforts for the country.
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Who's involved
- Ogun StateState where manufacturing plants and industrial entities are located
- LagosLocation where corporate headquarters and top-level executives are situated
- Dapo AbiodunPolitician whose political agenda involves pursuing corporate tax recovery
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Ogun StateSpeculative
Ogun State might see increased revenue capture from corporate taxes currently remitted to Lagos.
Keep exploring
The entities involved
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Ogun State
state of Nigeria
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Lagos
largest city and former capital of Nigeria
Related events
- CITN and OGIRS collaborate to strengthen tax compliance in Ogun State.
- Ogun State is studying Lagos State's successful governance model.
- While Ogun State is part of Nigeria, the administration is currently driving strategic reforms and submissions have been made in Lagos.
- Bola Ahmed Tinubu signed tax bills, which were then commemorated by the Chartered Institute of Taxation of Nigeria through an awareness campaign in Ogun State.
- Corporate activities, including stock listings and trading, took place on the Nigerian Exchange in Lagos.