Lagos Launches Initiative to Reduce Leakages and Increase Revenue Across 80 Agencies

By Olasunkanmi Akoni

The Lagos State Government has stepped up oversight and performance monitoring across its parastatals and government-owned agencies. The goal is to eliminate leakages, increase revenue, enforce accountability, and strengthen institutional governance throughout the state.

Permanent Secretary of the Parastatals Monitoring Office, Dr. Olugbemiga Aina, made these remarks on Tuesday during the 2026 ministerial press briefing that marked the seventh anniversary of Governor Babajide Sanwo‑Olu and Deputy Governor Dr. Obafemi Hamzat in Alausa, Ikeja.

According to Aina, the PMO has implemented aggressive institutional reforms over the past year to improve efficiency, transparency, and financial discipline in Lagos State agencies, parastatals, and government-owned companies.

He said the reforms align with the Sanwo‑Olu administration’s T.H.E.M.E.S+ agenda and aim to build resilient institutions that can deliver sustainable governance and better public service.

“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,” Aina said.

A key feature of the reforms, he noted, is the monitoring of 80 revenue‑generating agencies through the Parastatals Revenue Generating Meeting (PARGEM). PARGEM is a strategic platform designed to track revenue performance, identify leakages, and improve collection mechanisms across the state.

Aina disclosed that the state carried out inspection and periodic evaluation exercises across 70 agencies in 2025, and a fresh exercise covering 75 agencies is already underway in 2026.

The inspections focused on revenue performance, expenditure monitoring, pension compliance, project implementation, financial accountability, and adherence to government guidelines.

“In line with our statutory responsibilities, we have continued to strengthen revenue generation mechanisms, monitor compliance, improve inter‑agency collaboration, and ensure prudent project execution across state agencies,” Aina stated.

He also revealed that the PMO 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.

The initiative was carried out in collaboration with engineers, builders, and architects from the Ministry of Works and Infrastructure to guarantee compliance with approved standards and specifications.

Aina said the PMO additionally carried out on‑the‑spot assessments of 50 agencies to evaluate operational efficiency, succession planning, governance structures, and audited financial reports.

He stressed that the government will continue to deepen reforms through stronger project monitoring, KPI‑driven performance evaluation, and enhanced stakeholder collaboration.

“As we present this report, we remain mindful that governance is a continuous process that demands innovation, discipline, collaboration, and strategic leadership,” he said.

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