The Accounting Manual developed for use by all accountants employed by the Lagos State Government has been described as a document that will attract more investors to the state and further portray it as a business-minded and forward-thinking government.
This was asserted by top government functionaries during a five-day retreat organised for Directors and Heads of Finance and Accounts.
The officers, across all Ministries, Departments, and Agencies, gathered at Lakowe Golf Resort, Lagos.
The Chairman, Lagos State House of Assembly Committee on Finance, Hon. Femi Saheed, who represents Kosofe Constituency II, at the opening ceremony stated that once the final draft of the manual is approved and becomes operational, Lagos State will once again lead the way in public sector financial management among Nigerian states.
Saheed emphasised that the initiative aligns with globally accepted accounting standards and practices.
As a legislator, the Chairman noted that the ratification of the manual will also enhance the oversight functions of the House of Assembly, as it will provide a clear template for evaluating the financial performance of ministries and agencies.
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He commended the State Accountant-General for recognising the need for the manual and organising the retreat, which allowed accountants to review their modules, rethink their strategies, and prepare more effectively for future tasks.
Hon. Saheed urged the accountants to adopt the manual as a key reference tool in their daily operations, highlighting its value in ensuring proper accounting and consistent financial reporting procedures.
Declaring the retreat open, the Commissioner for Finance, Abayomi Oluyomi, emphasised the dual significance of professional development and team bonding.
Represented by the Special Adviser to the Governor on Taxation and Revenue, Hon. Abdul-Kabir Opeyemi Ogungbo, the Commissioner described the retreat as a unique opportunity to reconnect, rejuvenate creativity, and reinforce teamwork among financial professionals.
Oluyomi noted that the theme of the retreat: “Excellence in Teamwork: Collaborating for Success in Public Sector Financial Management,” underscores the importance of working collaboratively and purposefully to strengthen the state’s financial systems.
The Commissioner also commended the commitment of Lagos State accountants, acknowledging their vital role in sustaining the government’s economic vision.
In his address, the Head of Service, Bode Agoro, encouraged participants to remain steadfast and dedicated to their roles, describing them as the pillars of the Lagos State Public Service.
He emphasised the importance of hard work and perseverance, stating that the accountants are not just civil servants, but change makers who influence the future of the state.
Agoro lauded the State Accountant-General/Permanent Secretary, Dr. Abiodun Muritala, for his visionary leadership and mentorship, especially to accountants in the public service.
He encouraged participants to consistently strive for excellence in their professional duties.
Earlier, Dr. Muritala reiterated that while updating the Accounting Manual is a central goal, the broader mission is to promote transparency, accountability, and best practices in financial governance.
He noted that the retreat provides an opportunity for participants to contribute their expertise, exchange ideas, and build mutual trust to enhance teamwork and overall efficiency in service delivery.
Also speaking, the Engagement Leader for the Development of the new Lagos State Accounting Manual and a Consultant, Gbenga Olupetu, stated that the retreat offers stakeholders a platform to harmonise their perspectives and ensure the manual reflects the collective vision of finance managers and the state government.
Olupetu noted that the current accounting manual, which is over three decades old, has become obsolete given the evolution of accounting practices and reforms instituted by the Lagos State Government.
He affirmed that the new manual, once finalised, will provide immense value—ensuring uniformity in accounting processes, serving as a knowledge repository, and guiding accountants to better understand their mandates and functions as outlined by the state.
The event brought together key stakeholders in the public finance ecosystem, including the Special Adviser to the Governor on Internal Audit, Dr. Oyeyemi Ayoola, and several Permanent Secretaries.
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