Lagos, Nigeria – July 7, 2025
The Lagos State Government, in a bold move to strengthen its fiscal position and enhance accountability, has hosted a Groundbreaking Revenue Recovery Summit, bringing together key stakeholders across public and private sectors to address revenue leakages and improve internal generation.
Held at the Adeyemi Bero Auditorium in Alausa, Ikeja, the summit featured top officials from the Ministry of Economic Planning and Budget, Lagos Internal Revenue Service (LIRS), and other strategic government agencies, along with legal experts, financial analysts, and representatives from professional associations.
In his opening remarks, the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, represented by the Honourable Commissioner for Finance, Mr. Abayomi Oluyomi, reaffirmed his administration’s commitment to fiscal transparency and effective revenue management. He stated that the summit was convened to align the state’s economic development agenda with robust revenue recovery strategies, particularly in a period of rising infrastructure demands.
“This summit marks a turning point in our approach to governance. We are determined to plug all revenue leakages and maximise the resources available to drive sustainable growth. Every naira counts,” the Commissioner stressed.
The event featured panel discussions on issues such as non-compliance, enforcement gaps, inter-agency collaboration, and the digitisation of revenue collection systems. A key highlight was the unveiling of an upgraded Revenue Intelligence and Data Analytics Platform (RIDAP) designed to track and analyse revenue flows in real-time.
The Executive Chairman of LIRS, Mr. Ayodele Subair, also emphasized the importance of taxpayer education, digital innovation, and stakeholder cooperation in achieving the State’s revenue recovery goals.
Participants hailed the summit as timely and forward-looking, calling for swift implementation of the resolutions reached.
The Lagos Revenue Recovery Summit is expected to become an annual fixture, underscoring the state’s leading role in fiscal reform and public sector innovation in Nigeria.
