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    Lagos begins review of 54 laws guiding parastatals

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Florence Onuegbu
    Lagos, May 25, 2021 The Lagos State Government, through its Parastatals Monitoring Office (PMO), says it has begun the review of 54 enabling laws of its parastatals.

    The Special Adviser to the governor on PMO, Mr Afolabi Ayantayo, announced this at the 2021 ministerial press briefing in Ikeja on Tuesday.

    Naija247news reports that the briefing is in commemoration of the second year in the office of Gov. Babajide Sanwo-Olu.

    Ayantayo said that the review of the enabling laws was in collaboration with the Ministry of Justice through the Law Reform Commission Office.

    He said that there was a need for the review as the 54 identified laws were either obsolete or hindering the parastatals’ operational guidelines.

    “The review is to raise the standard of performance of the parastatals and ensure that their mandates as established in their enabling laws can meet the service requirement of the 21st-century society.

    “A total of 54 of such enabling laws have been forwarded to the Law Reform Commission for review.

    “Hopefully, when the exercise is completed, affected agencies would have better-enabling laws that would enhance their operations and deliver their services effectively,’’ the Special Adviser said.

    He noted that the office had made remarkable achievements in monitoring and evaluating the performances of parastatals and government-owned companies.

    Ayantayo said that his office monitored the parastatals with a focus on five Key Performance Indicators (KPIs).

    These include the process, input, output and outcome, qualitative, quantitative KPIs.

    The office strives toward ensuring that the targets of the parastatals are achieved.

    He said that other areas that the office was executing its mandates were in training and retraining of personnel to enhance efficiency.

    Ayantayo said that the PMO also classified the parastatals along the line of the T.H.E.M.E.S developmental agenda and enhance their visibility through the quarterly publication of a magazine titled “Lagos Parastatals Quarterly”.

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