LASG STRENGTHENS FISCAL REFORMS, RECORDS STRONG BUDGET PERFORMANCE THROUGH DIGITAL INNOVATION

 

The Lagos State Government has reaffirmed its commitment to prudent public financial management through technology-driven reforms, fiscal discipline and transparent budgeting, revealing that the State recorded better revenue performance in 2025.

The Lagos State Government has reaffirmed its commitment to prudent public financial management through technology-driven reforms, fiscal discipline and transparent budgeting, revealing that the State recorded better revenue performance in 2025.

The Honourable Commissioner for Finance, Mr. Abayomi Oluyomi, disclosed this on Wednesday at the opening of a three-day workshop themed “Emerging Issues in Public Sector Budgeting and Budgetary Control in Lagos State”. The workshop was organised by the Institute of Chartered Accountants of Nigeria (ICAN), Lagos State Public Service Chapter (LSPSC), in collaboration with D.C.S. Alaribe & Co., for Finance and Accounts Officers, Auditors and other professionals in the public sector budget value chain held at the Lagos Airport Hotel, Ikeja.

Oluyomi stated that Lagos State has continued to leverage digital transformation to strengthen public finance management, noting that the majority of Ministries, Departments and Agencies (MDAs) are now integrated into the Lagos Revenue Portal. According to him, the platform enables real-time revenue monitoring, seamless multi-channel payments and greater transparency in revenue administration. He added that the State's strong revenue and budget performance reflects the growing credibility of its budget assumptions, effective expenditure controls and disciplined implementation of capital projects.

The Commissioner highlighted other key reforms introduced by the State, including the expansion of the e-Government Procurement platform, optimisation of the LIRS e-Tax platform and the deployment of an AI-powered Revenue Chatbot. He explained that these initiatives have strengthened accountability, enhanced taxpayer confidence and promoted the prudent utilisation of public resources, while noting that Lagos has consistently maintained strong credit ratings, significantly reducing its budget deficit over the past seven years.

Speaking on institutional capacity, Oluyomi disclosed that more than 500 chartered accountants are currently serving across Ministries, Departments and Agencies in the Lagos State Civil Service. He described the milestone as part of the State's deliberate efforts to strengthen institutional capacity and deepen financial governance. The quality of our institutions ultimately determines the quality of our governance outcomes," the Commissioner stated.

Declaring the workshop open, Oluyomi commended Governor Babajide Sanwo-Olu for his unwavering commitment to prudent financial management and institutional reforms, emphasising that the administration remains focused on transforming budgeting into a performance-driven governance tool that delivers measurable outcomes for Lagos residents.

He also lauded the Institute of Chartered Accountants of Nigeria (ICAN) for its sustained commitment to promoting professionalism and building capacity among public finance practitioners. He urged participants to leverage the workshop to deepen their knowledge, share best practices and continue advancing transparency, accountability and excellence in public sector financial management.