The Lagos state government, on Thursday, unveiled plans to simplify and harmonise its revenue and tax system to stimulate development in the state.
The special adviser to Gov. Babajide Sanwo-Olu of Lagos on taxation and revenue, Abdul-Kabir Ogungbo, made the disclosure at a news conference in Lagos.
Mr Ogungbo said that Mr Sanwo-Olu’s administration acknowledged that an enabling environment was critical for businesses to thrive.
He noted that by streamlining processes, eliminating hurdles, and embracing technology, the state would create a more transparent and efficient system that promotes voluntary compliance.
According to him, revenue generation is at the core of the continuous improvement of lives and livelihoods of the ever-increasing populace of Lagos.
“Revenue generation remains the live wire of infrastructural development and other life-enhancing programmes for Lagos state, deliberately being implemented in accordance with the Lagos State Development Plan (LSDP) 2052 and T.H.E.M.E.S+ Agenda of the governor,” he said.
To simplify and optimise revenue generation in the state through the harnessing of innovation and technology, Mr Ogungbo said the state would hold Eko Revenue Plus Summit, scheduled for Sept. 25 and 26.
The special adviser explained that the goal of the summit was not merely to increase the state’s internally generated revenue but to do so in a sustainable, equitable, and inclusive way.
According to him, this is to ensure that the benefits of collective progress are shared by all citizens.
He disclosed that the summit was organised in partnership with the Modo Ante team, Wema Bank, Leadway Assurance and AlphaBeta.
Mr Ogungbo said the state seeks to explore possibilities and opportunities in property, digital economy, circular economy and informal sector through public-private partnerships (PPP) to drive economic growth.
“The future of revenue generation in Lagos state lies in our ability to embrace innovation and technology to create a more efficient, transparent, and inclusive revenue system.
“Eko Revenue Plus Summit is about making life better for every Lagosian. It is about creating an environment where businesses can thrive, where opportunities are abundant, and every citizen has a stake in our collective future,” he said.
Similarly, Bamijoko Okupe, chief executive officer, Modo Ante, said the summit was a bold step towards reimagining revenue generation for Lagos state.
Mr Okupe noted that Modo Ante recognises the growing need for innovative and sustainable revenue streams to support the state’s burgeoning development, hence its collaboration with the state and other partners on the initiative.
He explained that the summit was conceived out of a commitment to contribute to Lagos state’s economic transformation by providing a platform for exploration, strategic dialogue, collaboration, exchange of ideas and purposeful implementation.
“This collaboration aims to harness the best of both the public and private sectors to unlock new revenue potentials, and ensures that Lagos state continues to thrive and meets the needs of its citizens,” he said.
He lauded the state government for its unwavering support and partnership, noting that it was critical to the success of the summit and the future prosperity of the state.
(NAN)
