The All Progressives Congress (APC) governorship candidate in Ogun State, Senator Olamilekan Adeola, popularly known as Yayi, has pledged to aggressively pursue the recovery of corporate taxes and other revenues generated from industrial activities in Ogun State but currently paid to Lagos State.
Adeola, who represents Ogun West Senatorial District in the Senate, made the pledge during an interactive session with journalists at the Ogun State Council of the Nigeria Union of Journalists (NUJ) Secretariat in Abeokuta, where he outlined his agenda ahead of the 2027 governorship election.
Speaking on his economic plans, the senator expressed concern that Ogun’s status as one of Nigeria’s major industrial hubs was not adequately reflected in its internally generated revenue (IGR).
According to him, the situation was partly caused by what he described as tax leakages arising from the location of corporate headquarters and senior executives outside the state.
Adeola explained that while several manufacturing companies operate major plants and facilities in Ogun, many maintain their headquarters in Lagos, with taxes paid by their high-earning directors and senior management staff accruing to Lagos State.
“Many of these industries establish themselves in our state but take their head offices to Lagos. By doing so, the return on investment from establishing in my state cannot be compared with what it should be, because the top echelon, all the managers and directors are in Lagos, and their taxes are paid to Lagos,” he said.
The APC candidate cited the disparity in revenue generation between Ogun and Lagos, noting that Lagos had recorded a revenue benchmark of about ₦1.6 trillion. He further claimed that more than 30 per cent of Lagos’ corporate tax revenue could be linked to economic activities taking place in Ogun State.
Adeola said that if elected governor, his administration would seek new ways of addressing the issue rather than relying solely on existing inter-state tax reconciliation arrangements.
He proposed the establishment of a Central Business District in Abeokuta, where companies operating in Ogun would be encouraged to establish regional offices and locate some of their senior executives.
“I am not saying you should take your head office out of Lagos, but in my new Central Business District here in Abeokuta, come and establish your regional office so that I can have some of your managers and even an Executive Director here,” he said.
Adeola added that he believed a significant portion of the revenue currently accruing to Lagos from companies operating in Ogun should be retained by the state.
The governorship hopeful also turned his attention to the mining sector, promising to address what he described as uncoordinated federal mining activities in Ogun State.
He alleged that some commercial operators exploit the state’s solid mineral resources under federal permits without adequate financial benefits accruing directly to the state government.
On employment, Adeola criticised the practice of major industrial establishments relying heavily on non-resident workers while offering indigenous residents mostly casual positions.
He pledged to introduce a local content policy that would prioritise qualified Ogun residents for employment opportunities, including managerial positions, within companies operating in the state.
According to him, such a policy would ensure that the economic benefits of Ogun’s industrial and natural resources translate more directly into employment, improved revenue and broader development for residents of the state.
