Last year, 21,887,738 individuals chose the waterways as their preferred mode of travel in Lagos State, representing a 55.2 percent increase compared to the 2021 figure of 14,105,816.
Ferry ridership, which encompasses the number of passenger and vehicle trips on ferries within a defined time frame (quarterly, annually, etc.), has witnessed an upswing, according to data from the Lagos State Waterways Authority (LASWA).
This trend underscores the growing preference for waterborne commuting within the bustling city of Lagos over the past decade.
A closer look at the ridership figures reveals a consistent upward trajectory from 2013 to 2023. In 2013, a total of 9,978,546 commuters utilized waterways, and this number has surged to an astounding 21,887,738 in 2023.
Further analysis reveals that in 2014, 10,345,281 passengers opted for waterway transport, while 2015 witnessed 11,067,756 users of the service. In 2016, the ridership recorded yet another increase, reaching 11,851,837.
In 2017, the number of waterway travelers continued to rise, reaching 13,787,624. A minor dip was observed in 2018, with 11,984,930 recorded users.
However, the system rebounded in 2019, registering a surge to 14,131,786 passengers. The subsequent year, 2020, saw a slight decline to 14,105,816, largely attributable to the impact of the COVID-19 pandemic.
These statistics clearly indicate that an increasing number of people are embracing waterway transportation as their mode of choice for navigating the city of Lagos, despite the challenges posed by boat accidents across the country.
Chivita Crowned “Outstanding Juice Brand of the Decade” at MarketingEdge Excellence Awards
Tax Expert Urges Government to Boost Investment-Friendly Tax Environment
Calls for Fairness, Transparency, and Seamless Tax Process to Attract Investors
Dr. Titilayo Fowokan, a former Lagos State Coordinator of the Society of Women in Taxation (SWIT), has called for a significant improvement in the tax environment.
Her recommendations encompass fairness, transparency, and a seamless tax collection process to stimulate economic growth.
Speaking recently in Lagos, Dr. Fowokan commended the present administration’s efforts in implementing tax reforms, particularly highlighting the Finance Act of 2023 and the work of the Taiwo Oyedele-led tax reform committee.
She emphasized the alignment of these initiatives with current economic realities, especially in enhancing the ease of doing business.
However, Dr. Fowokan voiced concerns about the impact of excessive exchange rate volatility and fuel subsidy removal on these reforms.
She noted that these factors have driven up the cost of doing business in the country, putting pressure on investors.
“Overall, businesses and companies are adjusting to the drive for compliance by the current tax system and reviewing their tax strategy, value and supply chain management, tax controls, risk management, and tax planning initiatives for sustainability,” Dr. Fowokan stated.
In addition to her recommendations for governments, Dr. Fowokan urged tax administrators to improve interactions between taxpayers and new digital tax payment platforms.
She acknowledged the benefits of transitioning to an automated tax system, particularly in terms of enhanced tax compliance, and called for further innovation in this area.
“In relation to administrative ease of the current tax system, the FIRS should not limit the Tax Promax platform to punishing non-compliance but also grant access to benefits for compliance. This is from the angle of penalty regimes on the platform versus the claim of Withholding tax credits through the platform. An improvement in this will be a significant boost to the ease of doing business in Nigeria,” Dr. Fowokan emphasized.
The recommendations put forth by Dr. Titilayo Fowokan underscore the importance of fostering an investment-friendly tax environment that prioritizes fairness, transparency, and efficiency. As governments contemplate their fiscal policies, her insights serve as a timely reminder of the crucial role tax reform plays in economic development and attracting investment.
Dangote Refinery Controversy: Safety, Quality, and Financial Woes Unveiled
Tension Between Aliko Dangote and NNPC Raises Concerns Over Nigeria’s Oil Industry
News3 weeks ago
Npower Program Restores Hope with Long-Awaited Stipend Disbursement
Commodities3 weeks ago
Three Chinese Groups Vying to Acquire $2 Billion Botswana Copper Mine
Naira4 weeks ago
Dollar to Naira Today Black Market, August 28, 2023
Naira4 weeks ago
Dollar to Naira Today Black Market, August 29, 2023
News2 weeks ago
Government Plans to Revamp Npower Scheme and Combat Poverty
Banking Sector3 weeks ago
Guaranty Trust Holding Co. Surpasses Expectations with $468 Million Forex Windfall
Forex3 weeks ago
Dollar to Naira Black Market Today, 1st September 2023
News4 weeks ago
N-Power Batch “C” Beneficiaries Appeal to President Tinubu for Urgent Stipend Intervention