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Budget Review Gets Transparency Boost Following Obasa’s Call for Vigilance

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Lagos Speaker Obasa stresses budget review transparency, urging lawmakers to scrutinise the 2026 appropriation bill with diligence and accountability

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Speaker of the Lagos State House of Assembly, Rt Hon Mudashiru Obasa, has urged lawmakers to place budget review transparency at the heart of their scrutiny of the 2026 appropriation bill recently presented by Governor Babajide Sanwo-Olu.

Also readMudashiru Obasa Earns Praise from Ayo Mojoyin on Birthday

He made the call during a three-day budget retreat at the Park Inn by Radisson in Abeokuta, where members gathered to examine the proposal with renewed commitment.

The retreat, held from 26 to 28 November, centred on the theme Budget of Shared Prosperity: Enhancing Accountability and Transparency in Lagos State Budget Process.

It brought together all lawmakers, select legislative staff and senior aides to deepen understanding of key fiscal issues while strengthening the Assembly’s role in shaping a people-centred budget.

Obasa told participants that the governor had done “an incredibly thorough job” in preparing the proposal, but reminded them that the Assembly must ensure that the allocation of public funds aligns with the needs and aspirations of Lagos residents.

He emphasised that their responsibility required efficiency, empathy and unwavering conviction, noting that credibility is earned through consistent transparency.

He warned legislators against overlooking irregularities or yielding to undue influence, stressing that consequences would ultimately return to their constituencies.

He said that effective oversight would curb waste and demonstrate that lawmakers serve with integrity. His words carried a powerful reminder that public trust can only be sustained through honest, diligent scrutiny.

The retreat also aimed to speed up the review process while equipping lawmakers with deeper analytical tools.

Speaker Obasa insisted that the state’s finances must always be managed with the public good in mind, describing the budget as a shared opportunity to reinforce Lagos’ development trajectory.

Expert facilitators delivered practical insights into fiscal planning, tax reforms and strategic oversight. Mr Olufemi Orojimi, Director of Budget at the Ministry of Economic Planning and Budget, analysed the 2026 strategy in the context of the 2025 performance.

Dr Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, examined the Medium Term Expenditure Framework and the Assembly’s crucial oversight role.

Yomi Olugbenro, West Africa Tax Leader at Deloitte, explained legislative responsibilities within Nigeria’s evolving tax landscape with remarkable clarity.

Other speakers included Muhammad Sani Abdullahi of the Senate Public Accounts Committee; Olusegun Mojeed, former CIPM Nigeria president; and Ifeanyi Peter, National Team Leader for the Partnership for Agile Governance and Climate Engagement.

Also readMudashiru Obasa Assures APC Members of Continued Support

Their contributions strengthened the Assembly’s readiness to deliver a thorough, transparent and timely review of the 2026 Appropriation Bill—an effort Obasa described as vital to sustaining shared prosperity across Lagos.

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Economy

FG Begins Fresh Tax Reform Review Ahead of 2027 Budget

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Nigeria begins a tax reform review ahead of the 2027 Finance Bill, with officials targeting implementation gaps, simpler compliance and stronger investment (more…)

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Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum

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Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.

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Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.

The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.

Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.

The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.

He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.

According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.

The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.

Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.

The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.

Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.

Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.

The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.

The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.

The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.

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Economy

Fuel subsidy debate: Between economic reform and political expediency

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Atiku petrol subsidy plans have reignited Nigeria’s 2027 debate as the ADC candidate promises relief while the Presidency demands clarity

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