Is Lagos in South Africa?
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Nigeria got distracted by oil!
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Does the 22 million people have job?
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There maybe a lot of youth and retirees.........
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Size of informal economy and hard-to-tax professions (SHFs), weak tax admin and institutional inefficiencies (some intended) all factors!
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Maybe the rest are unemployed graduates.
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wonder how that compares to city of London major companies/banks
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Sorry, just in case you thought I was serious..
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Which means Lagos State has significant room for phenomenal IGR growth. That's Good news.
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It's a general issue in Africa - a lot of the labour is in the informal economy!
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Where does the money go to? Is the state saying certain individuals are extorting them and the state can do nothing about it?
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The Voluntary Asset and Income Declaration Scheme (VAIDS) would improve tax compliance in Nigeria.
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