By Moses Nosike

Lagos—Modo Ante in Collaboration with the Lagos State Government, unveiled the highly anticipated Eko Revenue Plus Summit, scheduled for September 25-26, 2024. The summit is poised to be a game-changer in the economic trajectory of Lagos State, focusing on innovative strategies to boost the state’s revenue profile and drive sustainable growth.

The Summit will explore untapped revenue streams across various sectors, including property and real estate, digital economy, circular economy, energy/IPP, and the informal sector. By leveraging cutting-edge technology and modern economic strategies, Lagos State aims to harness its full potential and solidify its position as the economic powerhouse of Nigeria.

Speaking at the press conference, the Special Adviser to the Governor on Taxation and Revenue, Mr. Ogungbo Abdul-Kabir Opeyemi, commended the Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, for his visionary leadership and unwavering commitment to the sustainable development of Lagos in line with the Lagos State Development plan 2052 and his well thought out T.H.E.M.E.S+ Agenda. 

He highlighted the critical role the Summit will play in supporting the governor’s agenda by shaping the future of Lagos State’s economy. He affirmed that, “The Eko Revenue Plus Summit is not just an event; it is a strategic initiative designed to unlock new opportunities for businesses and investors in Lagos State. By focusing on key sectors that are poised for growth, we are laying the foundation for a more prosperous and resilient economy.”

According to him, “Lagos State, as the economic nerve centre of Nigeria, has long been a beacon of growth and innovation. The state’s revenue generation framework, built on a robust tax system and diversified economic activities, has served as the backbone of its development initiatives. 

“However, the rapid pace of urbanization, population growth, and the evolving nature of economic activities demand that we continuously refine and enhance our revenue strategies. Traditional methods, while still relevant, are no longer sufficient to meet the financial demands of a state as dynamic as Lagos.”

Continuing he added that, “In recent years, we have witnessed significant strides in expanding our revenue base, particularly through the broadening of the tax net and improving compliance. However, the realities of the 21st century compel us to look beyond conventional approaches. The advent of digital technologies and the increasing interconnectedness of the global economy present both challenges and opportunities that we must navigate skilfully. As we all Know, Revenue Generation is at the core of continuous improvement for lives and livelihood of the ever-increasing populace of Lagos. It remains the live wire of infrastructural development and other life enhancing programs for our dear Lagos, deliberately being implemented in accordance with the Lagos State Development Plan (LSDP) 2052 and T.H.E.M.E.S + Agenda of Mr. Governor- the one I recently christened Mr. Revenue.

As we gather here to announce the Eko Revenue Plus Summit, our focus is directed towards a singular but multifaceted goal: optimising revenue generation in Lagos State through the harnessing of innovation and technology. This goal is not merely about increasing the State’s Internally Generated Revenue, but about doing so in a way that is sustainable, equitable, and inclusive, ensuring that the benefits of our collective progress are shared by all Lagosians.”

In his presentation at the conference, Mr. Bamijoko Okupe, Founder/CEO of Modo Ante, reiterated that, “The Eko Revenue Plus Summit is an audacious ambition 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.”Mr. Okupe emphasised that, “As the co-convener of the Eko Revenue Plus Summit I am thrilled to announce that this Summit is not just another event, but a movement. The Eko Revenue Plus Summit is designed to optimize existing revenue streams, explore and unlock fresh ones for Lagos State. The theme, “Unlocking New Revenue Streams for Lagos State,” encapsulates our mission to accelerate socio-economic development through innovative revenue generation.”

This Summit will bring together a diverse array of stakeholders including Government officials, Private Sector Leaders, Financial Institutions, innovators, and most importantly, the citizens of Lagos to discuss development of the state and enhancement of the people’s lives. The Summit will feature expert-led sessions, panel discussions, and networking opportunities designed to foster collaboration and drive economic growth.”

Other public and private sector organisations who were at the event to endorse and express their commitment to the success of the Summit include Wema Bank, which is the Headline Sponsor of the event, Alphabeta Consulting as the co-sponsor, the Lagos State Internal Revenue Services, and others.