The Eko Revenue Plus Summit, organized by Modo Ante, aims to foster novel public-private partnerships (PPPs) to drive a substantial N5 trillion revenue growth in Lagos State.

Scheduled for September 25-26, 2024, in Lagos, the summit will convene business leaders, industry experts, and government officials. Its primary objective is to explore innovative strategies to augment the State’s internal generated revenue (IGR) to N5 trillion by 2027, thereby propelling sustainable economic growth and prosperity for its inhabitants.

The Eko Revenue Plus Summit represents an audacious endeavor to unlock untapped revenue streams for the State, thereby accelerating socio-economic development. It constitutes a pivotal step towards harnessing the full potential of Lagos State.

The CEO of Modo Ante, Joko Okupe said “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.”

He indicated that numerous sectors in Lagos State possess significant untapped potential for revenue growth; however, the primary emphasis will be on enhancing the income streams of current government revenue-generating entities and exploring avenues for generating 'new money.'

“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, with The Energy Sector as a support pillar for the other four sectors and a catalyst for the general economic development in any environment, for that matter,” he stated.

He stated that the Summit will examine ways in which government entities, currently functioning as cost centres or yielding minimal revenues in these sectors, can be reformed to provide value-added services to citizens, thereby enabling them to generate revenue.

He added that “government Agencies can be empowered to create products and services that give citizens such great value that they will be willing to exchange them for money, which in turn generates new revenues for the government.

“Sustainability is also key, as the initiatives and solutions discussed will focus on long-term, sustainable revenue generation practices that ensure economic stability and growth. By adopting these practices, the State will not only boost its current revenue but also secure its economic future and that of Lagosians.”

He stated that the initiatives arising from the Summit will foster job creation, promote entrepreneurship, and enhance the development of small enterprises.