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Lagos Bids for National Theatre, Others

This Day
Deji Elumoye
27 July 2007

Lagos State Governor, Mr Babatunde Fashola, SAN, yesterday expressed the state's interest in the Federal Government's Tafawa Balewa Square, National Theatre, Lagos International Trade Fair Complex and the Federal Secretariat complex put up for sale.

He said since the lands on which these infrastructures were erected belonged to the state, "it was only reasonable that the state should be given the opportunity and preference to buy them over." He disclosed the state's interest while receiving members of the State Chamber of Commerce and Industry (LCCI) in Ikeja. He urged President Umar Musa Yar'Adua to use his office in favour of the state, by reversing the order to sell the edifice to the public, "the same way he ordered reversal of the sale of the Port Harcourt and Kaduna refineries."

He also urged corporate organisations in the state to wake up to their social responsibility roles, noting, "it is just in the name of their corporate image that we are urging them to be more alive in this responsibility."

"Private organisations operating in the state should take up infrastructural development, which will not only benefit the people, but also the organisations, because it will boost their profit," and declared his support for LCCI's view that a certain percentage of Value Added Tax (VAT) accruable to the Federal Government from the state should be given to Lagos State government.

Addressing the Governor earlier, the Deputy-President of the LCCI, Mr Solomon Onafowokan, said the body was ready to partner with the state government in overcoming economic challenges.

According to him, "we fully subscribe to call for the adoption of derivation principle in respect of revenues generated from Value Added Tax, corporate tax and import duty and port charges in the state; we canvass this position in recognition of the fact that the various economic activities leading to the generation of these streams of revenue create enormous externalities, which put severe pressures on the resources of the state."

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