The Eko Revenue Plus Summit is set to boost and diversify the revenue streams of the Lagos State Government while fostering sustainable economic growth for its residents.
According to Vanguard, in an official statement, Modo Ante, the firm organizing the event, emphasized that the summit will bring together business leaders, industry experts, and government officials to explore innovative strategies aimed at raising the state’s Internally Generated Revenue to N5 trillion by 2027.
The event is seen as a key initiative in driving economic prosperity for Lagosians, according to the organizers.
The summit’s primary objective is to uncover new revenue sources that will accelerate socio-economic development in Lagos State.
It represents a vital move towards unlocking the state’s full economic potential.
The Chief Executive Officer of Modo Ante, Joko Okupe, remarked, “By leveraging technology and innovation, we can unlock ‘new money’ that will enhance Lagos State’s ability to provide better social amenities and economic opportunities for Lagosians.”
Okupe further highlighted that while numerous sectors within Lagos State hold untapped revenue potential, the focus will be on enhancing the income streams of existing government revenue-generating entities and identifying opportunities for generating “new money.”
He noted, “Working closely with the special adviser to the governor on taxation & revenue and his team, we have identified five core sectors of the state’s economy with the potential for additional revenue to help generate extra (Plus) IGR of about N2.73 trillion. These sectors, in order of priority, are property, digital economy, informal sector, energy sector and circular economy.”
The summit will also explore strategies to transform government entities, which currently operate as cost centers or generate minimal revenue, into value-added service providers that can become significant revenue contributors.
