Sanwo-Olu hosts joint revenue board meeting

Governor Babajide Olusola Sanwo-Olu has reaffirmed Lagos State’s commitment to building a sustainable and transparent fiscal system, as he hosted the 159th meeting of the Joint Revenue Board at Lagos House, Marina.
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‎Speaking at the meeting, the governor said Lagos remains aligned with national revenue frameworks while pursuing practical reforms aimed at strengthening internally generated revenue (IGR) and improving public trust.
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‎Sanwo-Olu disclosed that the state generated ₦1.3 trillion in IGR in 2024, representing a 45 per cent increase from the previous year, adding that the revenue now accounts for over 60 per cent of the state’s total budget.
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‎According to him, the state government is focused on developing a revenue system that is fair, efficient, and easy for citizens and businesses to engage with, while ensuring that collections translate into tangible improvements in infrastructure and public services.
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‎He emphasised that ongoing reforms are designed not only to boost revenue generation but also to enhance transparency and accountability in public finance management.
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‎“As a key driver of national growth, Lagos understands the importance of a revenue system that people can trust and clearly see how their contributions are being utilised,” the governor said.
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‎Sanwo-Olu further assured citizens that the state would continue to collaborate with stakeholders to align policies and strengthen revenue administration in a way that supports economic growth and improves the quality of life for residents.
‎The Joint Revenue Board meeting brought together key stakeholders in revenue administration to deliberate on strategies for enhancing fiscal sustainability and intergovernmental cooperation.