Business

Sanwo-Olu test runs Lagos redline train ahead Of commissioning

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Saturday, took a test run of the Red Line train, inspecting the tracks and the rail corridors for another time ahead of next Thursday’s formal commissioning of Lagos Rail Mass Transit (LRMT) infrastructure.

The 37-kilometre rail line, built by the Lagos Metropolitan Area Transport Authority (LAMATA), will be inaugurated by President Bola Tinubu, along with its stations and other ancillary facilities. The Red Line traverses seven stations from Agbado, a boundary town in Ogun State, to Oyingbo in Lagos Central.

Sanwo-Olu took journalists on a train ride from the Ikeja Mega Station of the Red Line in a last-minute effort to make the infrastructure ready for opening.

Joining the Governor on the ride was the Deputy Governor, Dr. Obafemi Hamzat, and members of the state cabinet.

The Red Line train, which left the garage track for the first time since it was delivered, departed from Ikeja Mega Station at exactly 2:23 pm, moving steadily towards Agbado Station.

Six minutes later, the passengers arrived at Agege Station. The journey proceeded to Iju Station, arriving at 2:38pm — 15 minutes after leaving Ikeja.

While on board, Sanwo-Olu and his deputy moved along the coaches in a bid to ascertain the conditions the train’s cars — a set of Talgo wagons built in Milwaukee, Wisconsin in the United States.

Some of the comfort facilities inspected by the governor included the train’s cooling system, handrails, cushioned seats and in-built safety features of the wagons.

After the inspection, Sanwo-Olu said the train line was ready for commissioning, but added that there would be continuous enforcement to clear the train path of unapproved activities.

He said: “We just completed another inspection of the Red Rail Line facility and corridor; now we are back in Ikeja Mega Station. We all have just used the train to Iju and back. I’m sure our media men can fully report what we all witnessed in the course of the short journey. This rail infrastructure is ready for inauguration, but we still have a few cleaning to do.

“The challenge we have is the pedestrian interference on the rail track and unapproved activities seen along the corridor. We will continue with the enforcement we started against illegal use of the rail corridor. We are in talks with NRC (Nigeria Railway Corporation) to reinforce the train route with physical barriers to limit pedestrian interference”.

He urged the state’s residents to adhere to the rules of using the rail line, noting that infrastructure was not built for commercial activities. The train operation, Sanwo-Olu said, would be regular and trips would be made in every 15 minutes. He said it was necessary to eliminate incidents that could result in fatality along the track.

“We have reduced human interference on the track considerably over the last two months, but enforcement continues. The stations are ready, the trains are ready and I believe Lagosians are ready to welcome this new infrastructure built for their use and benefit”, Sanwo-Olu said.

Business

Customs exceeds 2024 target, rakes in N71.6bn

The Nigeria Customs Service, NCS, Murtala Muhammed International Airport Command, says it surpassed its revenue target for 2024, raking in a total of N71.6 billion.

The Customs Area Controller, CAC, Effiong Harrison, disclosed this in a statement on Friday, saying that its target for 2024 was N56.861 billion.

Harrison expressed delight over the record-breaking revenue achieved by the command.

The Customs Area Controller described the 2024 revenue as unprecedented, noting that it was the highest-ever generated in the history of the command.

“A detailed breakdown of the revenue underscores the remarkable achievement of the command in revenue generation.

“During a meeting with his management team, the area controller revealed that the command had exceeded its annual revenue target of N56,861,094,269.07 by generating N71,633,687,108.84.

“This represents a 20 per cent increase, amounting to N14,772,592,839.27,” he said.

According to him, July 2024, in particular, was a standout month, with the command recording its highest-ever monthly revenue of N12 billion.

Harrison, while comparing the command’s performance in 2023 and 2024, noted a significant revenue increase of N41.1 billion in 2024 when compared to the N30.5 billion generated in 2023, reflecting a 135 per cent growth.

He expressed profound gratitude to the Comptroller-General of Customs, Bashir Adeniyi, and his management team for their unwavering support to the command.

Harrison extended appreciation to critical stakeholders and other government agencies, acknowledging them as invaluable partners in the command’s success in 2024.

He expressed optimism that the command would achieve even greater milestones in fulfilling its core mandates in 2025.

Business

FCT-IRS announces deadline for tax returns

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged private companies, government’s Ministries, Departments and Agencies (MDAs) and other employers of labour in the territory to file their employee annual tax returns for 2024.

The acting Executive Chairman, Mr Michael Ango, who made the call in a statement in Abuja on Sunday, said that the employers have up to Jan. 31 to comply.

In the statement, signed by the service’s Head of Corporate Communications, Mr Mustapha Sumaila, the FCT-IRS boss said that the returns should be filed using the prescribed forms provided by the service.

This, he said, was in compliance with Section 81 of the Personal Income Tax Act (PITA) 2011 (as amended) and the Pay As You Earn (PAYE) Regulations.

He explained that the PITA Act mandates all employers of labour in the FCT to file annual returns of all emoluments paid to their employees and the total taxes of the preceding year, not later than Jan. 31 of every year.

Ango had during the 2025 stakeholder’s engagement, emphasised that filing of employee annual returns by all employees was mandatory as provided by law.

He added that failure to file the returns would attract penalties and other sanctions, which the FCT-IRS would not hesitate to impose on any defaulters.

According to him, the best form of compliance is voluntary, which the FCT-IRS expects from all taxpayers in the FCT.

“I, therefore, enjoined all private organisations, MDAs, government owned enterprises, including sole proprietorships who are employers of labour in the FCT to comply with their tax obligations to avoid sanctions.

“More importantly, the support will contribute to the development of the FCT and the efforts of the Minister of FCT, Mr Nyesom Wike, to transform the territory into a modern city,” he said.