Lagos’s public finance professionals capacity built to elevate economic recovery

Lagos State government’s commitment to enhancing the skills and sustainable practices of public financial managers has been spotlighted during a collaborative event by the state treasury office and key stakeholders. The event was hosted at the Alausa-Ikeja state treasury resource center. Bode Agoro, the head of service for Lagos State, emphasized the critical role of capacity building in this endeavor during a three-day workshop designed to elevate public financial management and sustainability. 

Under the banner “Increasing Capacity for Public Financial Management and Sustainability,” the workshop aimed to align with the broader objective of economic revitalization. Agoro highlighted the timeliness and significance of this theme, anticipating its substantial positive impacts on state operations. He underscored the essential truth that effective public service hinges on the adept management of finances, leading to enhanced resource utilization and, ultimately, superior service delivery to the populace. 

Lagos State’s reputation as “The Centre of Excellence,” Agoro remarked, isn’t a mere title but a testament to the unwavering commitment of its administrations to high-quality service delivery. This dedication is evident in the various landmark projects and achievements that have significantly benefited the public. 

Agoro urged financial professionals to prioritize their roles in delivering effective and efficient services, especially given the large population they serve. He noted the inevitability of growing customer demands, stressing the importance of expanding capacity to meet these needs while ensuring sustainability. 

For sustainable governance, Agoro advocated for a carefully devised and strategic financial management plan. This plan should direct the allocation and use of public resources across ministries, departments, and agencies (MDAs) in a manner that is transparent, accountable, and responsible. 

Adding to the discourse, Abiodun Muritala, Lagos State’s Accountant General, lauded the long-standing partnership with the Association of Chartered Certified Accountants (ACCA), which has fostered a technical collaboration enhancing the state’s public financial management system. The workshop marks a continuation of this beneficial alliance, aimed at boosting the participants’ financial expertise. 

Also read: Sustainable Finance Strategies: Mobilizing Resources for a Greener and More Sustainable Future

The dynamic nature of our world today, Muritala pointed out, necessitates ongoing capacity building to keep pace with evolving challenges. Such programs are crucial for maintaining relevance and adding value in the public sector. 

Facilitator Alero Onosode of AAO-Tsalach Limited highlighted the workshop’s role in equipping public financial managers with the skills necessary for global competence. Similarly, Yemi Faseun from YF Talent Partners addressed the importance of leadership skills, not just in the corporate realm but also within the public sector, emphasizing practical over theoretical knowledge. 

Olusola Olowoyeye, CEO of BetaPlus Group and strategic partner with ACCA, described the event as transformative for financial professionals, covering crucial skills such as report writing, presentation, and data analytics. 

Participant Olarenwaju Lawal praised the workshop’s impact, noting its role in enhancing public finance and resource management. This training, according to Lawal, is particularly relevant given the state government’s current projects, which demand financial transparency and accountability. 

This initiative represents a strategic move towards equipping Lagos State’s public financial managers with the necessary skills and knowledge to navigate and contribute to Nigeria’s economic recovery and sustainability efforts.