Sanwo-Olu to Parastatals: Explore New Avenues to Optimise State Revenue

Segun James

Lagos State Governor, Mr. Babajide Sanwo-Olu, has called on the state agencies and parastatals to explore new avenues to optimise the state’s revenue.

One of such ways, he suggested was to embrace cutting-edge solutions leveraging on latest technology.

The Governor insisted that in doing so, greater revenue would be available to the state to fund infrastructural development and the timely and effective implementation of critical projects that directly benefit the people.

Sanwo-Olu made the remark during his one-day parley with heads of agencies/parastatals and government-owned companies organised by the state parastatals monitoring office.

The event which took place at Alausa, was with the theme, “Transforming Parastatals/Government Owned Companies into Agile Organisations for Greater Efficiency.”

The event was to showcase the importance of parastatals and government-owned companies in driving growth and development across various sectors in a bid to increase economic prosperity of the state.

Sanwo-Olu said, “Let us collaborate to build a Lagos that embraces inclusivity, sustainability and prosperity for all its inhabitants. Our aim is to establish a legacy of excellence and advancement for the generations to come.

“Parastatal organisations are established with a mandate to address specific developmental issues that hinges directly on the welfare and well-being of the people such as waste management, water supply, housing, transportation etc.

“This therefore means that the success of any administration will largely depend on how efficient and effective such parastatals deliver on their mandate.

“In recent times, the global landscape has presented us with unprecedented challenges, demanding that we adopt innovative approaches to increase government revenue.

“As stewards of public resources, it is incumbent upon us to explore new avenues and embrace cutting-edge solutions that will optimise our financial capabilities. By doing so, we can ensure that adequate funds are available for the timely and effective implementation of critical projects that directly benefit our people.

“Furthermore, I want to emphasise the importance of accountability and transparency in our operations. The Parastatal Monitoring Office serves as a vital mechanism for ensuring adherence to established protocols and standards.

“I urge all parastatals to fully cooperate with this office, as its oversight function is instrumental in promoting good governance and fostering public trust.”

He added: “Collaboration is the cornerstone of progress, and it is essential that we forge strong partnerships across all sectors. By leveraging our collective expertise and resources, we can synergise efforts towards achieving our common goal of sustainable development.

“The success of our endeavors hinges upon the seamless coordination and cooperation of all relevant stakeholders.

“Central to our vision is the establishment of an investment-driven economy that attracts global investors. We must strive to create an enabling environment that fosters innovation, entrepreneurship and business growth.

“Through targeted policies and initiatives, we can position our state as a prime destination for investment, unlocking new opportunities for prosperity and development.

“Our state, with its vibrant economy and diverse population, faces both challenges and opportunities. It is imperative that we work together, leveraging our collective expertise and resources, to address these challenges and seize these opportunities.

“I recognise the pivotal role that each of you play in the administration and delivery of public services. Your dedication and hard work are crucial to the success of our state.

“Today, I urge you all to welcome innovation, collaboration, and accountability into our pursuits. Let us aim for efficiency and effectiveness in fulfilling our responsibilities, remaining ever cognizant of the needs and aspirations of those we serve.”

In his welcome address, the Head of Service, Olabode Agoro, expressed gratitude to the Governor for his support and providing leadership which he said had aided the parastatals and government-owned companies the opportunity to achieve progress.