The Permanent Secretary, Parastatals Monitoring Office, Olugbemiga Aina, disclosed this during the 2026 Ministerial Press Briefing held in Alausa, Lagos.

Aina said the reforms, implemented over the last one year, were targeted at strengthening efficiency, transparency and financial discipline across state-owned institutions in line with Governor Babajide Sanwo-Olu’s T.H.E.M.E.S+ development agenda.

He said the state had intensified performance evaluation and compliance monitoring to ensure agencies align with approved governance, administrative and financial standards.

According to him, the Parastatals Monitoring Office currently tracks the performance of 80 revenue-generating agencies through the Parastatals Revenue Generating Meeting, a strategic platform created to monitor collections, identify leakages and improve internally generated revenue.

“The Parastatals Monitoring Office remains committed to ensuring that all parastatals, agencies and government-owned companies operate in line with established administrative, financial and governance guidelines,” Aina said.

The permanent secretary disclosed that inspection and periodic evaluation exercises were conducted across 70 agencies in 2025, while a fresh round of monitoring covering 75 agencies had commenced in 2026.

He explained that the exercise focused on revenue generation, expenditure tracking, pension compliance, project implementation, financial accountability and compliance with government policies.

Aina added that the office carried out project monitoring across 25 agencies to assess completed and ongoing projects, identify delays and guarantee value for money in public spending.

He said the exercise was conducted in partnership with engineers, builders and architects from the Ministry of Works and Infrastructure to ensure compliance with approved standards and project specifications.

The permanent secretary further revealed that on-the-spot assessments were conducted in 50 agencies to evaluate operational efficiency, governance structures, succession planning and audited financial records.

He noted that the state government would sustain the reforms through stronger project monitoring, Key Performance Indicator-driven assessments and improved collaboration among stakeholders.

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