Gov Sanwo-Olu Reopens Alaba Int’l Market

The Lagos State Government has taken the decision to reopen the Alaba International Market and some markets within the Trade Fair Complex in Ojo. The market was previously closed due to issues related to improper waste management and environmental infractions. Mr. Tokunbo Wahab, the Commissioner for the Environment and Water Resources, clarified that the reopening of these markets was not politically motivated but a strategic move to ensure a clean and healthy environment in and around business facilities. Wahab stated: “The decision to reopen the markets followed rigorous assessment and implementation of stringent environmental standards. These standards were set to guarantee that businesses in the state operate in a manner that is not detrimental to the environment and the well-being of the people.” Collaborating with market officials, the Lagos Waste Management Authority, led by Dr. Muyiwa Gbadegesin, worked tirelessly to ensure that the necessary environmental standards were met.  He emphasized the importance of maintaining a balance between commerce and environmental health. “We have standards that each market in the state has to comply with to make our business environment clean and healthy for buyers and sellers,”  Gbadegesin explained. “These include proper waste management, zero tolerance for open burning of waste, and zero tolerance for dumping of waste in drainage channels.” Gbadegesin encouraged market users and business owners to commit to environmental sustainability through proper waste disposal, emphasizing that compliance with these standards is crucial to avoiding future market closures.

IGR: Lagos Leads Other States With N651.1bn, Rivers N172.8bn  

*FCT Generates N124,366,774,519.25 Lagos states led other states of the federation in the amount of internally generated revenue in 2022, according to the IGR report released by the National Bureau of Statistics (NBS) on Monday. According to the National Bureau of Statistics, Lagos, Rivers, and the Federal Capital Territory (FCT) stood out as the leading states in terms of IGR, ranking in  impressive amounts of N651,145,633,085.30, N172,823,232,535.44, and N124,366,774,519.25, respectively. On the other end of the spectrum, Kebbi, Taraba, and Yobe were the least successful in generating revenue, managing to collect only N9,146,249,907.83, N10,238,110,125.95, and N10,456,776,796.18, respectively. Collectively, the 36 states of Nigeria and the Federal Capital Territory (FCT) managed to generate a total of N1,925,612,626,650.76 as IGR in 2022. This represented a modest growth of 1.57 per cent when compared to the N1,895,786,762,263.80 generated in the previous year, 2021. The report further stated that the revenue for 2022 came from taxes, including various types, and the income generated by different government departments and agencies. The total revenue collected across all states and the FCT increased slightly compared to the previous year. According to the report, the main source of revenue for the year was the pay-as-you-earn (PAYE) tax, contributing a significant 67.62 per cent to the total tax revenues generated across the country. The report also stated that capital gains tax, on the other hand, played a much smaller role, accounting for only 0.24 per cent of the total tax revenue. In terms of local government area (LGA) revenue, Oyo, Lagos, and Jigawa emerged as the top three states. They reported impressive figures of N11,832,437,020.33, N11,505,586,283.35, and N8,700,993,591.78, respectively. The NBS report also noted that in the year 2022, the Internally Generated Revenue (IGR) was primarily driven by two major sources: taxes and revenue from Ministries, Departments, and Agencies (MDAs).

Sanwo-Olu, 53 brands honoured at BrandXchange Consumers Value Awards

Governor Babajide Sanwo-Olu of Lagos State and 53 other brands, products, and services, was  on Friday honoured at the second edition of the BrandXchange Consumers Value Awards (CVA) held in Lagos. The event aimed to celebrate and recognize achievements in consumer protection and brand excellence. The Consumer Value Awards, conducted through online voting by consumers, highlighted the rights of consumers and promoted brand excellence in Nigeria. It brought together brand owners from various sectors of the economy after three months of online voting involving over 300 brands. Represented by Mrs. Oluremi Ososanya, Permanent Secretary of the Ministry of Commerce and Industry, Governor Sanwo-Olu commended the organizers for their initiative in protecting consumer interests and raising awareness of consumer rights. He emphasized the government’s responsibility to ensure citizens’ welfare and security, including safeguarding them from exploitation and ensuring they receive value for their expenditures. The event’s organizer, Mr. Akonte Ekine, noted the overwhelming response from consumers across the country, who nominated and voted for their favourite brands. This showed the active and discerning nature of consumers, with over 300 brands nominated and more than 50 brands recognized as providing the best value for consumers’ money. The awards were seen as a symbol of the brands’ commitment to consumer-centricity, reflecting their dedication to exceeding consumer expectations. Several regulatory bodies, including the Nigeria Communication Commission, Federal Competition and Consumer Protection Agency, Lagos State Consumer Protection Agency, and Nigeria Civil Aviation Authority, also conveyed goodwill messages at the event.