Lagos Govt, global firm discuss partnership in new growth areas

•Sanwo-Olu receives Bruit Costaud management

Lagos State Governor Babajide Sanwo-Olu, on Tuesday, had an audience with the management team and members of the Board of Bruit Costaud Advisory led by Managing Partner, Alhaji Lai Mohammed, a former Minister for Information, Arts and Culture.

The meeting with the Governor, held at the State House in Ikeja, was premised on forging strategic partnerships between the State Government and the global advisory firm in order to provide expertise to support government institutions in navigating the complexities of policy landscapes and regulatory bottlenecks across frontier markets.

The Advisory firm is an affiliate of the United States-based firm, Ballard Partners Group, and also National Institute of Policy and Strategic Studies, Kuru, Plateau State.

Mohammed, who described Lagos as “shining beacon of hope” in Africa, said the partnership with the State would foster impactful results and sustain successes recorded by the Sanwo-Olu administration.

The Managing Partner said the firm’s core areas of collaboration with the Lagos Government were in advocacy and projection of various socio-economic initiatives, leveraging the professional backgrounds and experience of its advisors to help public sector drive growth and deliver its mandate effectively.

The former Minister hailed Governor Sanwo-Olu for his commitment to development, stressing that the strides made by the administration was deserving of commendation.

Other collaboration areas, according to the firm’s Managing Partner, include geopolitical intelligence, stakeholders engagement and energy security.

“We are poised to work with Lagos State Government to deliver on its promises and vision of becoming Africa’s model mega city, as well as a global economic and financial hub that is safe, secure and functional,” Mohammed said.

Sanwo-Olu, in his response, said the State’s partnership with the firm would further enhance its visibility to international markets and investors.

The Governor welcomed the move, noting that his administration would continue to expand frontiers of cooperation with global organisations to promote socio-economic interests of Lagos.

He said: “For us as a Government, we are open to partnerships predicated on value creation for the public sector and our citizens. Lagos is still a fast growing economy and the potential for growth is not yet fully optimised. There is huge growth potential we can explore to create more opportunities. In the end, we must be able to identify the benefits that come with every partnership and collaboration.”

‘We’ll streamline tax system, target maximum of nine taxes’ – FIRS chairman

To enhance economic efficiency and bolster revenue generation, the Federal Inland Revenue Service (FIRS) has announced plans to streamline Nigeria’s tax system, aiming to reduce the number of taxes to a maximum of nine.

Zacch Adedeji, the chairman of FIRS, made this revelation during a visit to the Revenue House in Abuja by Adebayo Alli, the chief executive officer of Guinness Nigeria, and his management team.

Adedeji disclosed that the initiative aligns with President Tinubu’s directive for a single-digit tax regime, emphasising the government’s commitment to simplifying tax processes and stimulating economic growth.

He reiterated that the FIRS aims to expand the tax base and generate more revenue without introducing additional taxes or increasing existing ones.

“The president gave a directive that he wants a single-digit tax in the country, meaning that the maximum number of taxes we will have after the work of the Presidential Committee on Fiscal Policy and Tax Reforms will be nine taxes,” Adedeji stated.

He further explained that the FIRS has effectively restructured its operations to assess, collect, and account for taxes.

Adedeji also emphasised the importance of improving taxpayer relations and simplifying tax payment processes to encourage compliance and generate revenue.

“We used to have functional types of taxes, but we have identified that the only customers we have are the taxpayers.

“We have improved the way we relate with our customers by rearranging our operations based on our customers, using their turnover as the basis to categorise them into large, medium and small,” he elaborated.

Adedeji assured taxpayers of a streamlined payment process through a one-stop shop encompassing audits and other tax-related activities.

He also highlighted President Tinubu’s strategic initiatives, such as the consumer credit scheme to increase purchasing power and stimulate growth.

Furthermore, Adedeji outlined plans to implement a single window platform for logistics at ports to ease congestion and facilitate smoother operations for businesses like Guinness Nigeria.

He emphasised the government’s commitment to improving infrastructure and creating an enabling environment for businesses to thrive.

In response, Adebayo Alli, the CEO of Guinness Nigeria, expressed the company’s commitment to continue operating in Nigeria despite macroeconomic challenges.

He welcomed the government’s efforts to improve infrastructure and streamline tax processes, noting that the initiative would ultimately benefit businesses in the country.

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