EKO NEWS
‘Lagos Can Generate More Revenue’ — Sanwo-Olu Seeks Overhaul Of National Tax Policies
Eko Hot Blog reports that Lagos State Governor, Babajide Sanwo-Olu, has called on the Presidential Committee on Fiscal Policy and Tax Reforms to identify and eliminate bottlenecks hindering Lagos’ full revenue potential.
The Lagos governor made the charge on Monday when he received Taiwo Oyedele, a tax expert and chairman of the presidential panel.
Sanwo-Olu lamented that Lagos revenue potential remains untapped due to constraints in existing tax laws.
He emphasized that “current limitations imposed by national tax policies” have hindered the state’s capacity to generate more revenue.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele and Lagos State Governor, Babajide Sanwo-Olu
The governor, who disclosed that Lagos is aiming for a yearly budget of over N7 trillion to meet its infrastructure needs, called on the presidential panel on tax reforms to facilitate practical reforms that enhance revenue generation and fiscal sustainability.
“Improved tax collection stands as one of the pillars transforming Lagos. Our revenue potential remains untapped due to constraints in tax laws. I emphasized this during discussions with the Presidential Committee on Fiscal Policy and Tax Reforms led by renowned tax expert and Chairman of the Committee, Taiwo Oyedele today at the State House,” Sanwo-Olu wrote on social media.
“In our meeting, I highlighted Lagos’ capacity to generate more revenue, surpassing the current limitations imposed by national tax policies. We’re aiming for a yearly budget of over N7 trillion to meet our infrastructure needs, currently constricted by revenue constraints.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele and Lagos State Governor, Babajide Sanwo-Olu meet at the Lagos State House, Alausa, Lagos
“We’re committed to practical reforms that enhance revenue generation and fiscal sustainability. I urged the committee to identify and eliminate bottlenecks hindering Lagos’ full revenue potential. Collaboration is key in achieving monumental changes in our revenue projection.
“A big thank you to the committee for recognizing Lagos as a model in tax reform. We’re pushing for a transformational shift not just in revenue generation but also in quality spending. Together, we aim to address revenue challenges and ensure efficient utilization of generated income.”
Click To Watch Our Video Of The Week:
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
