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992 out of 994 firms that paid taxes above N10m in 2015 were in Lagos—PwC chief

More facts have emerged on why the Lagos State Government is not relenting in asking the federal government to by law, grant it a ‘Special Status’ considering the volume of revenues raked in annually by the apex government and for being the biggest strategic commercial hub of the nation and former capital where relics of federal edifies are in bad shapes.

The aim of the status according to the state government and some followers of the proposition are to have the needed financial backup to maintain the trend in development and management of resources to remain strong.

The state had through one of the Senators representing it, Senator Oluremi Tinubu sent a bill seeking for just one per cent of the national budget to drive the course of the state maintenance but it met brick wall.

Rather, the lawmakers are contemplating giving special status to states in the excess of 10 people which analysts say may cause serious tension in times of census as every other state may wish to tilt its census results to fall into the basket after all.

However, a new angle capable of boosting the struggle of Lagos State Government in getting the needed nod emerged weekend when the Chief Economist of PricewaterhouseCoopers, Andrew Nevin who spoke on some of the risks the country will encounter as a result of inconsistent policies revealed that data on tax payment in 2015 showed that about 992 organisations out of 994 that paid taxes above N10m were in Lagos.

Observers say based on the new statistics, Lagos truly deserves a special status so that the trend will not only continue but it will enable the state to push up infrastructural development that will continue to drive the activities of high tax paying firms to remain in business and bring new more firms into the federal tax net in the state.

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