The Lagos State Government has begun a formal drive to institutionalise sustainability reporting across its Ministries, Departments and Agencies, as part of efforts to strengthen transparency, accountability and long-term governance planning.
The initiative was highlighted at the Executive Sustainability Reporting Strategic Alignment Meeting and the second phase of a capacity-building programme held in Alausa, where senior government officials and regulators outlined plans to harmonise fragmented reporting practices into a unified framework aligned with global standards.
Speaking at the meeting, the Commissioner for Economic Planning and Budget, Ope George, said the reform reflected Lagos’ position as a rapidly expanding megacity that must align governance with international sustainability expectations.
He said the state had already adopted elements of sustainability reporting in different forms but without coordination, adding that the government was now moving to consolidate them into a structured system.
“We have, over time, adopted various sustainability reporting standards, albeit in a fragmented manner,” he said.
He added that the new approach would align Lagos with global best practices and improve transparency in governance and resource management.
“Every sustainability report represents more than compliance; it is a declaration of accountability to the people. It demonstrates our commitment to building a Lagos that is environmentally responsible, socially inclusive, economically resilient, and prepared for the challenges and opportunities of the future,” George said.
The Special Adviser to the Governor on Sustainable Development Goals, Oreoluwa Finnih, said sustainability reporting should be viewed as a governance tool rather than a regulatory burden, stressing its role in measuring impact, managing risks and improving decision-making across public institutions.
She said the initiative aligned with the administration’s broader development agenda under Governor Babajide Sanwo-Olu, which prioritises inclusive growth and institutional reform.
“Lagos has consistently set the pace in governance innovation, infrastructure development, and public sector reforms.
“By embracing sustainability reporting and seeking technical collaboration with relevant regulatory institutions, Lagos is once again demonstrating its readiness to lead rather than wait for mandates. This is governance in action and a practical expression of the dividends of democracy,” she said.
The Executive Secretary and Chief Executive Officer of the Financial Reporting Council of Nigeria, Rabiu Olowo, said the adoption of International Financial Reporting Standards on sustainability disclosure (IFRS S1 and S2) would enhance the state’s ability to provide structured information on environmental, social and governance performance.
He said the framework would improve transparency on climate-related risks, resilience planning and public service outcomes, while also strengthening investor confidence.
“Lagos has always been a leader, from pioneering infrastructure projects such as the Blue Line Rail to transformative urban developments like Eko Atlantic City.
“The world already looks to Lagos for innovation and progress. Through sustainability reporting, Lagos is once again setting a benchmark for transparency, climate action, accountability, and sustainable governance across Africa,” he said.
The Financial Reporting Council said it would continue to provide technical support through capacity building, reporting standardisation and implementation guidance.
Officials at the meeting urged MDAs to adopt the framework fully, describing it as essential for improving governance performance, strengthening public trust and aligning Lagos with global financing and climate disclosure standards.