The Lagos State House of Assembly has launched a detailed review of the 2024 Auditor-General’s report, signalling a renewed push for accountability and transparency in the management of public funds. The exercise, led by the Assembly’s Public Accounts Committee (State), aims to examine the financial activities of Ministries, Departments and Agencies (MDAs) and ensure compliance with approved laws and regulations.
The oversight process, announced during a briefing at the Lateef Jakande Complex in Ikeja, forms part of the Assembly’s constitutional responsibility to monitor how public resources are used and to guarantee that government spending benefits residents of the state.
Chairman of the committee, Hon. Kehinde Olaide Joseph, explained that the review will focus on strengthening systems rather than targeting individuals. He said the Assembly’s goal is to ensure that Lagos maintains high standards of fiscal discipline and responsible governance.
“The Assembly has a constitutional duty to examine the management of public funds, ensuring that government agencies operate efficiently, comply with laws and regulations, and deliver tangible value to the people of Lagos,” Joseph stated.
According to Joseph, the committee will invite heads of MDAs mentioned in the Auditor-General’s report to clarify issues raised in the document. These issues include financial irregularities, possible breaches of spending guidelines, and concerns about waste or inefficiency.
He noted that cooperation and transparency from government officials are crucial to the success of the exercise. The review is expected to cover both capital and recurrent expenditure, procurement procedures, contract payments and other financial commitments made by MDAs in 2024.
Joseph said the Assembly will insist on explanations where spending does not align with the approved budget. He added that the committee will identify systemic weaknesses and recommend measures to prevent mismanagement in the future.
The review will give particular attention to the effectiveness of public investments. Joseph highlighted that government projects must improve the lives of Lagos residents and should not become financial burdens without value.
He explained that the Assembly wants to ensure that funds allocated to infrastructure, education, healthcare and social services are being used responsibly.
“Our focus is on good governance,” he said. “Every budget line has an impact on the people. We must make sure that money is spent where it should be spent, and that the outcome benefits Lagosians.”
He warned that any breach of financial regulations will be treated seriously, adding that the committee will not hesitate to recommend disciplinary measures where necessary.
Joseph also praised the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, for providing guidance and support to the Public Accounts Committee. He said the Speaker’s backing has empowered the committee to carry out a thorough examination of public accounts.
Oversight of government agencies is a key function of the legislature, and the Lagos Assembly has been known for its strict approach to financial accountability. In previous years, the House has queried several MDAs over unapproved spending, abandoned projects and poor documentation of government funds.
Under Speaker Obasa, the Assembly has repeatedly stressed that transparency is essential for public trust. The latest review is seen as another effort to ensure that Lagos maintains a reputation for strong financial management.
Audit reports play an important role in Nigeria’s public finance system. They provide an independent assessment of how funds allocated in the state budget are used by different agencies. The Auditor-General identifies areas where spending is improper, excessive or unsupported by documents.
When audit reports reveal weaknesses, it becomes the duty of the legislature to ask questions, correct issues and set standards for future operations. Many states across Nigeria often face problems such as abandoned projects, inflated contract payments and poor record-keeping, and audit reviews help reduce such challenges.
Lagos, being Nigeria’s largest economy and commercial centre, handles some of the country’s biggest budgets. The state’s 2024 budget, like previous ones, includes massive spending on infrastructure, transport, education and healthcare. With growing demands on the government, experts say strong oversight is necessary to prevent wastage.
Residents and civil society groups have also been calling for greater transparency in the management of state funds. Lagos has witnessed major development projects over the years, such as the Blue Line Rail, road expansion works and upgrades in health facilities. Many of these projects involve large sums of money, and the public expects clear records of how funds are spent.
The review of the Auditor-General’s report comes at a time when Nigerians are demanding more openness from all levels of government. Rising living costs, inflation and economic pressure have increased attention on how public resources are managed.
Joseph said the insights from the review will not only address past issues but will also assist the government in planning better for future budgets. He noted that detecting weaknesses early will improve the quality of decision-making in MDAs.
He added that the committee will provide recommendations to the Assembly on necessary reforms that can help modernise financial management in Lagos State.
“Good governance is a continuous process,” he said. “We must keep reviewing, improving and ensuring that we deliver results for the people.”
