Lagos Takes Steps to Plug Financial Gaps, Increase Income Across 80 Government Bodies

Notable figures gathered at the Bagauda Kaltho Press Centre, Secretariat, Alausa, Ikeja, on 19th May 2026, including Director of Admin and Human Resources, Mrs. Kudirat Abiola Lana; Permanent Secretary Parastatals Monitoring Office, Dr. Olugbenga Ayoola Aina; and Honourable Commissioner for Information and Strategy, Mr. Gbenga Omotoso, for the Lagos State Year 2026 Ministerial Press Briefing, commemorating the seventh year in office of Mr. Babajide Olusola Sanwo-olu.

n

The Lagos State Government has taken decisive action to intensify oversight and performance monitoring across its parastatals and government-owned agencies, with a focus on blocking leakages, boosting revenue generation, enforcing accountability, and strengthening institutional governance statewide.

n

Permanent Secretary, Parastatals Monitoring Office, Dr. Olugbemiga Aina, made these remarks during the 2026 ministerial press briefing, which was held to commemorate the seventh anniversary of Governor Babajide Sanwo-Olu and his deputy, Dr. Obafemi Hamzat, on Tuesday in Alausa, Ikeja.

n

According to Dr. Aina, the Parastatals Monitoring Office has embarked on a series of aggressive institutional reforms over the last year, designed to improve efficiency, transparency, and financial discipline across Lagos State agencies, parastatals, and government-owned companies, aligning with the Sanwo-Olu administration’s T.H.E.M.E.S+ agenda.

n

Dr. Aina emphasized that the Parastatals Monitoring Office remains committed to ensuring that all parastatals, agencies, and government-owned companies operate in line with established administrative, financial, and governance guidelines, and that the reforms are aimed at building resilient institutions capable of delivering sustainable governance and improved public service.

n

One key highlight of the reforms is the monitoring of 80 revenue-generating agencies through the Parastatals Revenue Generating Meeting, a strategic platform established to track revenue performance, identify leakages, and improve collection mechanisms statewide.

n

The state also carried out inspection and periodic evaluation exercises across 70 agencies in 2025, while a fresh exercise covering 75 agencies is already ongoing in 2026, focusing on revenue performance, expenditure monitoring, pension compliance, project implementation, financial accountability, and adherence to government guidelines.

n

Dr. Aina explained that the inspections are part of the office's efforts to strengthen revenue generation mechanisms, monitor compliance, improve inter-agency collaboration, and ensure prudent project execution across state agencies, in line with their statutory responsibilities.

n

The Parastatals Monitoring Office conducted a large-scale project monitoring exercise involving 25 agencies to evaluate ongoing and completed government projects, identify delays, and ensure value for money in public spending, in collaboration with engineers, builders, and architects from the Ministry of Works and Infrastructure.

n

Additionally, the PMO embarked on on-the-spot assessments of 50 agencies to evaluate operational efficiency, succession planning, governance structures, and audited financial reports, as part of its efforts to deepen reforms through stronger project monitoring, KPI-driven performance evaluation, and enhanced stakeholder collaboration.

n

Dr. Aina stressed that the government will continue to prioritize innovation, discipline, collaboration, and strategic leadership, recognizing that governance is a continuous process that demands these qualities, as they presented their report.