Francesca Odimgbe
The Lagos State Government has reported a series of bold reforms and strategic investments aimed at strengthening the state’s economic resilience, social equity, and long-term development.
Speaking at the State’s annual Ministerial press briefing to mark the second year in office of the second term of Governor Babajide Sanwo-Olu administration, Mr. Ope George, Commissioner for Economic Planning and Budget, presented a detailed review of achievements made in the ministry.
Mr George, at the media briefing said that the ministry has focused on fostering innovation, data-driven governance, and inclusive planning.
“Our focus is long-term. From strengthening fiscal discipline to expanding access to essential services, every decision is about ensuring no Lagosian is left behind,” Mr. George said.
He highlighted the strong fiscal growth and responsive budgeting evident in the State’s revenue drive and capacity of the ministry as the engine room of the State Economic thrust.
According to him, the ministry through the budget department “facilitated a significant increase in Lagos State’s total revenue from ₦2.08 trillion in 2024 to ₦2.968 trillion in 2025 — demonstrating improved fiscal planning. The 2024 fiscal year closed with an 87 percent budget performance rate, reflecting prudent fiscal management and efficient implementation across key sectors.”
In response to rising economic pressures, the Commissioner said the government implemented robust social protection measures, stating that “₦130 billion was disbursed to over 18.5 million Lagosians through various programs including the Ounje Eko food subsidy programme, which has enhanced access to affordable, nutritious food for low-income households; transport subsidy allowance following fuel subsidy removal; free maternal healthcare, and support for MSMEs,” he said.
He said the Ministry enhanced delivery of the various interventions by integrating the Lagos State Social Register (LASSR) with the National Identity Number (NIN), improving the accuracy of beneficiary targets.
In a drive toward evidence-based planning, Mr George noted that the Ministry launched several digital tools. The LSDP 2052 Implementation Reporting Dashboard which now tracks over 280 development initiatives across all MDAs in real time, just as the EKO360 App has been deployed in all 57 LGAs and 59 MVAA centers to support real-time data collection and reporting.
The Economic Chief said Lagos has made strides in environmental resilience and sustainable development through its partnership with the European Bank for reconstruction and development securing funds to implement a floating solar power project.
He underscores the initiatives from the Office of Climate Change and Circular Economy that generated over 1,600 jobs, diverted 20,000 kg of waste from landfills, and prevented 10,000 kg of carbon emissions, noting that “programs such as Eco-Circulate and ECONexus are now helping more than 5,000 SMEs transition to sustainable, circular business models.”
Affirming the State’s status as Africa’s second-largest economy by purchasing power parity (PPP) unveiled through the 2025 Lagos Economic Development Update (LEDU), Mr George reassured the commitment to good governance and inclusive growth by Governor Sanwo-Olu led administration.
“Lagos is not just growing—it is evolving into a model of what a 21st-century African city can become,” he noted.
Present at the conference were Commissioner for Information and Strategy, Mr Gbenga Omotoso; Special Adviser to the Governor, Economic Planning & Budget, Mr Lekan Balogun; Permanent Secretaries, Mrs Olayinka Ojo (Ministry of Economic Planning & Budget); her counterpart in Ministry of Information & Strategy, Mr. Olumide Sogunle, and other top officials from the both Ministries.