Hustle for two 💰
#211: Give to Ceasar what belongs to Caesar. Until Caesar becomes greedy.
Hello Venturer
A happy weekend to you. You know how they say, Lagos is the city that never sleeps? I’m not sure who started the saying but I think we have all just come to assume that this statement stems from the city’s business scene. Lagos, Nigeria's commercial capital, is a magnet for entrepreneurs and businesses. Sure, Lagos throws its fair share of curveballs – the never-ending traffic, and the cost of living that could make your eyes water. However, these challenges haven't stopped the relentless drive of Lagosians to build, create, and innovate.
Recently, though, this statement has meant more than just the usual hustle and bustle. There is a growing concern about the Lagos State Internal Revenue Service (LIRS) and its approach to taxation.
More business owners are raising complaints about tax overestimation, double taxation, and a general lack of transparency. Is the city that never sleeps losing dreamers? This week, Ventures Africa explores the growing discontent among Lagos business owners regarding tax regulations. This week, we explore the concern entrepreneurs have about the Lagos taxing system and the potential consequences of this discontent.
Suotunimi Orufa
Features Writer, Ventures Africa.
What’s new?
Is Nigeria’s commercial hub chasing its entrepreneurs with overbearing tax concerns?
In the city of Lagos, Nigeria’s commercial capital, a simmering discontent is brewing among employers and business owners. Beyond the daily grind of traffic congestion and the high cost of living, there is a growing concern about the Lagos State Internal Revenue Service (LIRS) and its approach to taxation. Read more.
What did President Ruto’s visit to the US deliver for Kenya and Africa?
State visits by African leaders to the US are rare. The latest, before Kenya’s President William Ruto’s last month, was Ghana in 2008. Read more.
$550 Million Investment in Ubeta Field Development Project, will boost Nigeria’s Domestic Gas Supply
Nigerian National Petroleum Company Limited (NNPCL) and Total Energies just announced the Final Investment Decision (FID) on the Ubeta project – a 350 million standard cubic feet of gas per day (scfd) initiative. Read more
Why Lagos e-hailing drivers are demanding regulation
Ride-hailing apps have become a popular transportation option in Lagos, Nigeria. But for the drivers behind the wheels, the experience hasn’t always been positive. Read more.
Soft power - To attract, persuade, influence, and shape preferences through culture. Nigeria has effectively done this through entertainment. Our music, films, and content transcend borders, commanding global attention. As master storytellers, we leverage new technologies to amplify our cultural influence. Please read our latest magazine issue to learn more.
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