LASG targets N5trn from Eko Revenue Summit
LASG
By Cynthia Alo
The Eko Revenue Plus Summit will develop and enhance revenue sources of the Lagos State Government (LASG) as well as drive sustainable economic growth for inhabitants of the state.
In a statement, Modo Ante, the organizing firm said that the event, which will be a convergence of business leaders, industry experts and government officials aims to explore innovative strategies to increase the state’s IGR to N5 trillion by 2027; and drive sustainable economic growth and prosperity for its inhabitants, said the organisers.
The Eko Revenue Plus Summit, the said is aimed at unlocking new streams of revenue for the state to fast-track socio-economic development. It is a crucial step towards harnessing the full potential of Lagos State.
According to the Chief Executive Officer of Modo Ante, Joko Okupe, “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.
Speaking further, he stated that several sectors hold untapped potential for revenue growth in Lagos State, but the focus will be strong on how the income streams of existing revenue generation of Government entities can be enhanced and how “new money” can be generated.
Okupe said: “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.”
According to him, the Summit will also look into how Government entities that are presently cost centres or generating very little revenues, in these sectors, can be transformed to render value-added services to citizens, such that can make them become revenue earners.
Vanguard Media Limited