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Budget insufficient to meet residents’ needs – Commissioner

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The Lagos State Commissioner for Finance, Mr Abayomi Oluyomi, has said the state budget is not adequate “to meet the developmental aspirations of Lagosians.”

Oluyomi, who spoke during the opening ceremony of the 2024 Retreat for Directors of Finance and Accounts held in Epe at the weekend, stressed that the collaborative role of financial and accounts officers through innovative and creative measures was required to boost the revenue base of the state to attain the desired level of development.

“What Lagos needs to meet the current pace of development going on in different sectors of the state is above N7tn annual budget and this demands that our finance and account officers should be up and doing and they should devise creative means through which government revenue can increase,” the commissioner added.

He urged accountants in the state civil service to build skills that would enhance financial service delivery through innovation and creativity while boosting their potential.

Addressing participants during his welcome address, the Permanent Secretary/Accountant-General of the state, Dr Abiodun Muritala, said confronting emerging challenges of today’s uncertain environment required in-depth and unprecedented solutions to foster prosperity while maintaining excellence in financial service delivery.

“Our time together is not just an opportunity to discuss technical and topical financial issues; it is a call to action, a summon to explore innovative and creative avenues that will propel us to new heights as a result of multifaceted challenges and disruptions facing the global economy,” Muritala added.

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