LAGOS STATE GOVERNMENT REFUNDS 145 FORMER SUBSCRIBERS OF EGAN HOUSING ESTATE
admin By Oyebola Owolabi
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has lauded Lagos State’s economic growth, and urged other states to learn from such best practices.
Federal Commissioner representing Kwara State and member of the Mobilisation and Diversification Committee of RMAFC, Alhaji Ismail Agaka, praised Lagos’s financial strength and fiscal economy. He spoke during a research visit by the Commission to the Lagos House in Ikeja, yesetrady.
“Lagos is a trailblazer when it comes to financial strength and also fiscal economy, and that’s why we’re here,” he said.
Agaka emphasised the commission’s objective to collaborate with Lagos and identify areas where it has shown exceptional performance. He also highlighted the importance of learning from Lagos State’s best practices to advise others.
“We know there are areas where Lagos State has really shown itself to be a trailblazer. When we talk about best practices, it’s to see what is working very well here so as to advise others to make Lagos State a role model in making their state work as well.”
Lagos Commissioner for Finance Abayomi Oluyomi noted that the state has achieved a significant milestone in its Internally Generated Revenue (IGR) as it increased by 70 per cent over the last five years.
According to him, this was made possible through initiatives such as Revenue Courts, ICT-led payments and collections, as well as the newly launched Lagos Revenue Portal (LRP).
He said: “We are grateful for the support and collaboration of our partners at the federal level, which has enabled us to achieve this feat. IGR is the mainstay of Lagos, and we remain committed to driving revenue growth through innovative initiatives.
“We have found a strategic ally in RMAFC, and so we are excited to showcase our projects which will catalyse transformation and enhance the quality of life for our people.”
The commissioner also said Lagos is set to transform its financial landscape by reducing reliance on federal allocations, but instead focusing on strategic capacity building, and leveraging funding from international and federal sources.
“The reason why this committee was put together as part of RMAFC is to visit states to help them on how they can diversify their base so they will not depend entirely on federal allocation,” he noted.
Oluyomi, who emphasised the importance of teamwork, praised the RMAFC team for its commitment to supporting IGR growth in Lagos.
“We look forward to fruitful discussions and meaningful engagement to bring our shared vision to fruition,” he added.
