Lagos Tasks Bankers To Deploy Innovative, Digital Solutions For IGR Growth

– Lagos state commissioner for finance, enjoined banks to complement the State’s IGR efforts by constantly coming up with creative ways of supporting revenue collection in Lagos

Lagos State Commissioner for Finance, Dr. Rabiu Olowo has implored bankers to deepen innovative ideas and deploy digital solutions to support the present administration’s drive to grow Internally Generated Revenue (IGR) and bring unprecedented development to the State.

Speaking during a meeting with representatives of all banks operating in Lagos at the Conference Room at the Ministry of Finance recently, Olowo expressed willingness to consider ideas that would grow the State’s IGR, saying he will operate an open door policy.

He enjoined banks to complement the State’s IGR efforts by constantly coming up with creative ways of supporting revenue collection in Lagos, especially on methods to stop leakages and expand revenue collection net.

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Olowo stated that government considers banks as important stakeholders that are expected to add value and impact positively on citizens, assuring that this administration “will create a symbiotic relationship that is not parasitic, but that is robust and mutually beneficial; an environment where banks and people will thrive.”

He urged the banks to proffer innovative strategies and digital solutions that would impact significantly on Lagos economy, especially in deepening the State’s Public-Private Participation system to make the financial system more vibrant, promoting traffic and transportation and improving the health status of the people.

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The representatives of the banks present unanimously promised to support initiatives for revenue generation and economic growth in Lagos, promising to cooperate with the government in achieving its short, medium and long term financial and economic objectives in transportation, health, education and renewable energy.