The Lagos State Government has announced plans to simplify and harmonize its revenue and tax system, a move designed to stimulate economic development and create a more business-friendly environment. This initiative was revealed by Mr. Abdul-Kabir Ogungbo, Special Adviser to Governor Babajide Sanwo-Olu on Taxation and Revenue, during a press conference held on Thursday in Lagos.
Ogungbo emphasized the importance of an enabling environment for businesses to thrive, stating, “Governor Sanwo-Olu’s administration recognizes that by streamlining processes, eliminating hurdles, and embracing technology, we can create a more transparent and efficient system that promotes voluntary compliance.” He added that revenue generation is crucial for the continuous improvement of lives and livelihoods in Lagos, a city with an ever-increasing population.
Revenue generation, Ogungbo noted, is the “live wire” of Lagos State’s infrastructural development and life-enhancing programs, all aligned with the Lagos State Development Plan (LSDP) 2052 and the T.H.E.M.E.S+ Agenda of the governor. To further these goals, the state will host the Eko Revenue Plus Summit on September 25 and 26. The summit aims to not only increase internally generated revenue but to do so sustainably, equitably, and inclusively, ensuring that the benefits of collective progress are shared by all citizens.
“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,” Ogungbo explained. The summit, organized in partnership with Modo Ante, Wema Bank, Leadway Assurance, and AlphaBeta, will explore opportunities in property, the digital economy, the circular economy, and the informal sector through Public-Private Partnerships (PPP) to drive economic growth.
Echoing these sentiments, Mr. Bamijoko Okupe, Chief Executive Officer of Modo Ante, praised the summit as a “bold step towards reimagining revenue generation for Lagos State.” He emphasized that Modo Ante’s collaboration with the state government is driven by a commitment to contribute to Lagos’ economic transformation, providing a platform for strategic dialogue, collaboration, and purposeful implementation.
“This collaboration aims to harness the best of both the public and private sectors to unlock new revenue potentials, ensuring that Lagos State continues to thrive and meets the needs of its citizens,” Okupe said. He also lauded the state government’s unwavering support and partnership, which he described as critical to the summit’s success and the future prosperity of Lagos.
