Is Nigeria a failing state?, By Toyin Falola premiumtimesng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from premiumtimesng.com Daily Mail and Mail on Sunday newspapers.
What manner of special status for Lagos? The argument, to grant or not to grant, could easily have arisen out of avoidable misconceptions. Does any state in Nigeria hold the key to over 75 per cent of all manufacturing activities in the country? Or account for 70 per cent of Nigeria’s maritime trade? If a cog is thrown in the wheel of Lagos’ progress, could any state replace 55% of all VAT revenue which accrues to the Federation Account from Lagos out of 36 states? If tax revenue is important for the system to work, Lagos alone generates over 82% of Companies Income Tax available to the Nigerian State. If her economy slumps, if for any reason half of the jobs in Lagos were to disappear, is there an easy way Nigeria can absorb the army of jobless citizens that would be unleashed on the polity? Has Nigeria got the answer to any of these dilemmas that could easily be thrown up if Lagos were to become shackled by the starkly real threats to her development that are staring us all in
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Governor Babajide Sanwo-Olu of Lagos State.By Setonji DavidWHAT manner of special status for Lagos? The argument, to grant or not to grant, could easily have arisen out of avoidable misconceptions. Does any state in Nigeria hold the key to over 75 per cent of all manufacturing activities in the country? Or account for 70 per cent of Nigeria’s maritime trade?
If a cog is thrown in the wheel of Lagos’ progress, could any state replace 55% of all VAT revenue which accrues to the Federation Account from Lagos out of 36 states? If tax revenue is important for the system to work, Lagos alone generates over 82% of Companies Income Tax available to the Nigerian State.