Adeosun: Nigeria’s economic recovery template copied from Lagos
Kemi Adeosun, minister of finance, has said the economic template being used to foster the growth of Nigeria’s economy was copied from Lagos state.
Making the admission on Tuesday at the colloquium organised to celebrate the 65th birthday of Bola Tinubu in Lagos, the minister said she was not ashamed to admit that Lagos’ successful model was being replicated at the federal level.
Adeosun lauded the national leader of the All Progressives Congress (APC) for his foresight and sense of direction.
“The economic template we copied from you is now being implemented for the economic recovery of the country and we are not ashamed to say it,” she said.
“The impact of that template is that many of the states are now copying it, especially in the area of Internally Generated Revenue (IGR).”
Adeosun noted that Lagos was working because it had in place, an effective tax mechanism.
She said the federal government will continue to insist on the collection of its rightful tax from evasive rich citizens and corporate organisations.
The minister said Nigeria needed multiple streams of revenue, adding that the country can have steady economic growth if “we consume what we make”.
“We need to support the economy with the infrastructure needed to create jobs for our young people. We will change Nigeria by consuming what we make for Nigeria to survive,” she added.
Great idea,kudos to all who participated in the implementation of this tax laws in Lagos state.
It is beneficial to any government to be able to generate wealth through tax revenes.
But in the case of Nigeria, while the government is preparing to enforce it’s tax laws upon it citizens.I hope the government do understand the hard truth that Nigerian citizens are suffering so much.The most important thing right now to do is to instill money into the economy,Creatjobs through infrastructure building,Agriculture,electricity and roads.This the Nigerian government need to deliver.