Countering Tax Avoidance in Sub-Saharan Africa’s Mining Sector
Sub-Saharan Africa is estimated to possess 30 percent of global mineral reserves, representing a major opportunity for the region. Despite the high level of private investment in this critical sector, new analysis finds…
How to Tax in Asia’s Digital Age
Asia alone has roughly two billion internet users, with considerable room to grow. Asia’s advanced and emerging market economies have several locally headquartered tech giants—including Alibaba, JD.com, Tencent, Rakuten—and host foreign tech giants…
Is It Time To Tax Stock Trading?
In the economist's utopian vision of the stock market, clearheaded investors diligently evaluate companies and invest only in the ones they expect to grow and thrive. In the process, investors direct resources where…
How the Rich Get Richer
A paper co-authored this year by economists from the IMF and other institutions confirms that wealthier people are more likely to earn higher returns on their investments. It also shows that the children…
Financial Highlights of SEPLAT in the first 9 months of 2020
Although revenue declined, we note that the cost of sales surged during the period. Specifically, cost of sales was N103.94 billion compared to N70.65 billion recorded in the corresponding period of 2019. This…
Financial Highlights of Bua Cement Plc in 9M-2020
Gross profit grew by 13.6% compared to the corresponding period of 2019. The gross profit growth is however slow due to the fact that the growth in cost of sales was more than…
Mission Impossible? Can Fragile States Increase Tax Revenues?
The COVID-19 shocks are proving to be especially challenging for fragile states. Pre-COVID, fiscal revenues were low in such countries and governments were struggling to raise them. Now, COVID-19 is hitting them hard…
Data on Lagos State Finances (2016-2018)
Between 2016 and 2018, Lagos State Government has spent N712.76 billion on recurrent expenditure while N703.36 billion was spent on capital expenditure. While N122.595 billion was obtained as Federal Allocation from 2016 to…
Finance Act, 2020 [PDF]
Download the revised Finance Act of 2020 .
Understanding Lagos State Finances and its Preference for External Debt over Internal Debt
Lagos State Government recently released its financial statement and we provide an insightful analysis into the state finances and its debt profile.