15 February 2013: The Lagos State Government has rolled out fresh statistics of its domestic economy, noting that about 90 per cent of businesses operating in the state “are locked outside the formal sectors”.
Consequently, the state government unveiled comprehensive institutional reforms, designed to formalise the state’s informal sector and integrate about one million actors operating in the sector.
Commissioner for Commerce and Industry, Mrs. Olusola Oworu, disclosed the plan at a training organised in collaboration with Institute of Liberty and Democracy (ILD) for the contract workers, who will carry out a study on the challenges of informal sector with a view to tackling them.
Oworu, who addressed the trainees along Permanent Secretary, Mr. Wale Raji, and the institute’s Senior Economic Research, Mr. Enrique Daiz, also said there “is a gap in the number of people paying tax in the state.”
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