2027: Adeola Vows to Capture Oguns Share of Corporate Taxes Lost to Lagos

Senator Olamilekan Adeola, popularly known as Yayi and the All Progressives Congress (APC) governorship candidate for Ogun State, has announced a bold economic agenda aimed at recovering corporate taxes and revenue from industrial entities operating in the state but remitting executive-level taxes to Lagos. Speaking during an interactive session with journalists at the Ogun State Council of the Nigeria Union of Journalists (NUJ) Secretariat in Abeokuta, Adeola outlined his vision for boosting the state’s internally generated revenue (IGR) ahead of the 2027 governorship election.

Adeola highlighted a major fiscal imbalance where Ogun State, often described as Nigeria’s primary industrial hub, consistently underperforms in revenue generation despite hosting numerous manufacturing plants and operations. He pointed out that while these industries are physically located in Ogun, their corporate headquarters and top executives remain in Lagos, leading to significant tax leakage. “Many of these industries establish themselves in our state but take their head offices to Lagos,” he said, adding that the high-earning directors and managers pay their taxes to Lagos, depriving Ogun of its fair share.

The senator noted that Lagos State achieved a ₦1.6 trillion revenue benchmark, and he estimated that over 30 per cent of that figure stems from economic activities rooted in Ogun. He emphasized that this revenue should rightfully belong to Ogun State and pledged to aggressively pursue its recovery. Instead of relying on slow inter-state monthly tax reconciliation processes, Adeola proposed that corporations establish regional executive offices within a newly designated Central Business District in Abeokuta.

“I am not saying you should take your head office out of Lagos,” he clarified, “but come and establish your regional office here so that I can have some of your managers and even an Executive Director here.” He stressed that more than 30 per cent of Lagos’ corporate tax revenue is effectively Ogun’s money, and his administration will act to collect it.

Beyond tax collection, Adeola also vowed to tackle unregulated federal mining operations in Ogun, which extract solid mineral resources without equitable financial returns to the state. He criticized companies using federal permits to exploit the state’s natural wealth while bypassing local revenue-sharing mechanisms.

On employment, the candidate condemned the reliance of major industrial complexes on non-resident labour and casual hiring practices for local workers. He promised to enforce a mandatory local content policy, requiring firms to give first right of refusal and managerial quotas to qualified Ogun residents. His plan seeks to ensure that economic growth translates into tangible benefits for the people of Ogun.

As the 2027 governorship race approaches, Adeola’s economic proposals signal a shift toward greater fiscal accountability and local empowerment, positioning him as a candidate committed to transforming Ogun’s industrial potential into sustainable development.