EFFECTIVE TAX DRIVE WILL GIVE STATES’ FINANCIAL INDEPENDENCE – SANWO-OLU
Written by COMFORT 95.1FM on July 19, 2019
Lagos State Governor, Babajide Sanwo-Olu, has advocated an aggressive tax drive through technology-driven process to prevent federating States from over-dependence on federal allocations.
Sanwo-Olu stated this when he flagged off the new National Taxpayers Identification Number Registration System and Consolidated National Taxpayers Database in the Southwest region.
He said the challenges associated with over-dependence on federal handouts were enormous, requiring that the State pursues an inclusive revenue generation push to achieve financial autonomy and reduce its reliance on crude oil earnings.
The Governor said the sustenance of Lagos state’s tax collection drive in the last twenty years had helped to insulate the state from the effects of decline in revenue derived from Federal Account Allocation Committee, arising from the 2014 crash of global crude oil prices.