Ekocity layout August-1

PUBLISHER’S NOTE
ECONOMY
EKOCITY MAGAZINE
PUBLISHER
Abiodun Fawumi
MANAGING EDITOR
Nnamdi Nwokolo
GLOBAL EDITOR
Olorunfemi Bababtunde
HEAD GRAPHICS / LAYOUT DESIGNER
OlaWale Hammed
ON-LINE EDITOR
Citizen Odunayo
EDITORIAL ADVISER
Rotimi Akinbobola, Demola Davies, Idris Alabidun
EDITORIAL BOARD
Olaleye Olusegun, Alaba Foluso, Ike Okonkwo,
Ojo Olorunjunwon
CORRESPONDENT
Agada Mercy (Lagos), Ademola Aderonke (Ikorodu),
Chinwe John (UK)
LEGAL ADVISER
Phylex Associates
COLUMNIST
Taiwo Joseph, Dr. Paul Jesuyajolu, Akin Abimbola,
Engr. Fakiyesi Oladapo, Prof. Hubert Ramphasaad, Bukola
Idowu, Adeyinka Oloyede
DISTRIBUTOR
Tolbim Marketing Agency Company
PHOTOGRAPHER
Adegboyega Moses & Tiza Joseph
BUSINESS DEVELOPMENT
Abosede Ikotun, Adeyinka , Nkechi Olunwa,
Bolanle Oladipo
Celebrating 50
years of Excellence
This is a special edition of Ekocity
magazine to commemorate and celebrate
Lagos State @50 anniversary.
We were excited as the celebration
is more or less a celebration of excellence
as Lagos has become a model
for National development. In a bid to
serve you a bumper edition, we had
to reach out and talk to reputable corporate
organizations and individuals
who have contributed positively to
the economic transformation of Lagos
State as part of this package.
As you know, Ekocity Ming the Lagos
of our dreams. We hope that you will
enjoy this edition which has been
carefully packaged as a memoir and
feel free to ask for copies from your
vendor and as always, we will like
to get feedback from you to help us
serve you better.
Cheers,
We’ve
empowered
4,000 SMEs to
augment Lagos
economy
— Ambode
Lagos moves to
streamline tax
collection policy
LAGOS ADDRESS:
Suite 5, Jabita Hotel Plaza, 144 Awolowo Road,
Opp. Airport Hotel, Ikeja, Lagos.
US ADDRESS:
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ENQUIRIES:
07015637452, 08023082446
E-MAIL:
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info@ekocitymagazine.com
WEBSITE:
www.ekocitymagazine.com
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Abiodun Fawunmi
ADVERT HOTLINES: 07015637452, 08023082446
Lagos State Governor, Mr. Akinwunmi Ambode, says the N25billion
Employment Trust Fund (ETF) set up by his administration has successfully
empowered over 4000 small and medium scale businesses
in the last two years to boost the economy of the State.
Speaking recently when he received a delegation from Legatum
Center for Development and Entrepreneurship, Massachusetts Institute
of Technology (MIT) on a courtesy visit at the Lagos House in
Ikeja, Ambode said deliberate efforts have been made by his administration
to aid businesses and encourage budding entrepreneurs
in the State.
Amobode further reiterated that the Employment Trust Fund
with a budget of N25billion was set up to be able to touch younger
people that would not necessarily have the capital to recreate their
skills and so far in the last two years about 4000 entrepreneurs have
been empowered.
While welcoming the partnership prospects with MIT, Governor
Ambode said he was excited that the Legatum Center had finally
discovered the importance of the African continent as a key part of
the map to driving innovation as well as entrepreneurship and Lagos
as one of its major city partners.
Besides, the Governor said that the setting up of the Ministry of
Wealth Creation and Employment was in consonance with the ideals
of the Legatum Center, assuring that his administration would do
all it can to sustain the partnership beyond entrepreneurship.
Earlier, in her remarks, Executive Director, MIT, Mrs. Georgina
Flatter said the team was in Lagos to liaise with entrepreneurs in the
State and build sustainable partnerships going forward. She said the
MIT team had spent the last few days touring eco systems and visiting
entrepreneurs and ventures across Lagos, describing the experience
so far as most inspiring.
Lagos State Government is considering streamlining its tax and
revenue collection method to enable Small Scale Enterprises to
thrive in Lagos.The State Commissioner for Finance, Mr. Akinyemi
Ashade, stated this at the Tax and Revenue Stakeholders’
Forum organized by the Ministry at LASCOFED Conference Centre
Ogba, recently.
He explained that the proposed harmonization is in response
to the appeal of Lagosians, particularly the business community,
on multiple taxes collected by government, adding that the forum
is to address areas of conflict, streamline revenue collection
between the State and Local Governments and set up a proper
channel of collection and billing.
Ashade also revealed that though the Constitution gave the
right to collection of levies by the different levels of government,
the State and the Local Governments have been collaborating
on the collection of levies such as Land Use Charge, which has
tenement rate infused to it and is remitted to the Local Governments
after collection.
The Commissioner advised that all revenue generation agencies,
particularly at the Local Government level, should introduce
ICT for ease of billing and collection, stressing that it will go
a long way in reducing the cost of collection, fraud and improve
revenue generation.
In his remarks, the Permanent Secretary Ministry of Finance,
Mr. Tairu Ogenleye, said that the purpose of the stakeholders’
forum is to move Lagos State forward. He noted that the bureaucracy
and bottlenecks inherent in the current system of doing
business is affecting and creating challenges for existing and
potential new business/investors, especially in terms of understanding
all the appropriate levies and licensing fees payable to
the government at both State and Local Government as well as
being able to make such payment with ease. Consequently, he
reiterated that the present administration is looking to implement
various strategies/initiatives aimed at improving the ease
of doing business, with a view to attracting and retaining additional
foreign investment into the State.
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