Stakeholders Advocate For Broader Revenue Strategies Beyond Taxation

Stakeholders in the public and private sectors have called for broader revenue strategies in the state beyond taxation.

They stated this at the Eko Revenue Plus Summit organised by Modo Ante in collaboration with the Lagos State government.

The summit held in Lagos, brought together policymakers, thought leaders, and private sector stakeholders to explore new revenue streams and innovative approaches to revenue generation.

Speaking, the Lagos State Governor, Babajide Olusola Sanwo-Olu advocated for broader revenue strategies in the State beyond taxation, including optimizing State-owned assets and creating new economic opportunities that Eko Revenue Plus Summit would identify.

He urged the private sector to partner with the State under the PPPs in creating innovative revenue solutions, particularly in real estate, waste management, and technology and how to hold the government accountable for revenue.

According to him, these three identified areas have enormous revenue potentials that are not yet fully tapped.

The Governor underscored the importance of technology as a critical tool for modern governance and revenue optimization. He emphasized the State’s commitment to staying ahead of the curve by embracing innovative solutions to manage its growing urban population and expanding economy.

Special adviser to the governor on Taxation and Revenue, Abdul-Kabir Ogungbo presented a detailed roadmap for sustainable revenue growth in Lagos State, highlighting the State’s achievements in widening the tax net and implementing data-driven policies to improve compliance.

Ogungbo called on other States in Nigeria to emulate Lagos by prioritising investments in technology and capacity building.

CEO of Modo Ante and co-convener of the summit, Bamijoko Okupe said, “the Eko Revenue Plus Summit has proven that when government and private sector stakeholders collaborate, the possibilities for revenue generation and sustainable development are limitless.”

Reiterating Modo Ante’s commitment, Okupe outlined “the consultancy’s three-pronged approach to revenue optimisation: Harnessing technology for efficiency, developing customised digital solutions to improve tax compliance, enhance public service delivery, and engender transparency.