Nigeria News: Why Lagos Must Buckle Up
Nigeria News take a look at the position of Lagos as rated by the budget monitoring advocacy group among some selected states despite high Internally Generated Revenue.
Rivers State has just been named the best Administrative Unit in Nigeria, courtesy of its prudent management of resources. A budget monitoring advocacy group, Budget IT, in its current assessment gave the lowest position to Osun and Ekiti States.
Lagos would have made the first position but lost it due to its humongous debt profile. Ogun State made the list of prudent manager of funds, due to Senator Ibikunle Amosun’s acumen and vision. Kudos also to Amosun in the area of security. Finance and security remain his major achievements till date. And, son of man always harps on these.
Osun State has a lot of projects on ground compared with other states on that list. But a lot of them remain uncompleted due to a poor approach to Internally Generated Revenue. There was too much dependence on Abuja allocations.
And, once this dwindled, it stands to reason that things would go bad, economically. It is the major reason for the unpaid salary by the state government. Osun state needs to urgently review up its Internally Generated Revenue, stop new projects and finish all its abandoned projects on time.
Unfortunately, the election is around the corner. Thus, any serious efforts at tax collection now might play into the hands of the opposition.
On Ekiti, it is highly possible the burden of the inherited debts from the Dr Kayode Fayemi era worked against the state Governor, Mr Ayodele Fayose.
Unlike other states, despite Fayose regular popular antics, the governor has shown over time that he has what it takes to govern Ekiti State.
He has also revealed that he does not know all. His idea has been a kind of town hall meeting approach where he asks the people before embarking on projects.
He has always carried the people along with what they want, not what he believes they want.
But Lagos State with its close to N1 trillion debt burden needs to sit back for a reevaluation of its Financial Management Strategy.
It is not enough to generate quality IGR. You must manage it well. Public schools in Osun State are light years ahead of what we have in Lagos State.
Yet, Osun State does not have 10% of Ikeja’s funds. The road networks embarked upon by Osogbo are far ahead of what is on ground in Lagos when placed side-by-side with available resources. Lagos needs to sit up!
In all, kudos to the People’s Democratic Party’s Nyesom Wike of Rivers State. The governor has shown how prudent he could be when it comes to governing a state as sophisticated as Rivers.