Lagos Holds 2025 Public Procurement Summit, Focuses on Impact of New Tax Law

 

By Kayode Olopade 

The Lagos State Government has reiterated its commitment to transparency, accountability, and fiscal discipline in governance through the 2025 edition of the Lagos State Public Procurement Summit, held at the Adeyemi Bero Auditorium, Alausa, Ikeja.

The summit, themed “Understanding the Impact of the New Tax Law on the Procurement of Goods, Works, and Services,” examined the implications of Nigeria’s newly enacted tax reforms on public procurement processes and project delivery across the state.

In his welcome address, the Director-General of the Lagos State Public Procurement Agency (LSPPA), Mr. Fatai Onafowote, described the summit as a vital step in deepening integrity and efficiency in the state’s procurement system.

Onafowote expressed appreciation to Governor Babajide Sanwo-Olu for his unwavering support and visionary leadership, which, he said, continue to drive procurement reforms and strengthen good governance in Lagos.

Speaking on the theme, Onafowote explained that the Nigeria Tax Act (NTA) introduced major innovations in the country’s tax administration, notably digital tax compliance through e-invoicing, real-time VAT reporting, and expanded input VAT recovery mechanisms — all designed to reduce procurement costs and promote fiscal prudence.

“This summit will examine key provisions of the new tax law and explore how public institutions can align compliance with efficient procurement practices to enhance value for money,” he stated.

In his remarks, the Chairman, House Committee on Procurement, Hon. Samuel Apata, underscored the significance of the summit as a platform for promoting transparency, accountability, and efficiency in public expenditure.

 “As lawmakers, we recognize that effective procurement practices are central to achieving sustainable development and delivering quality services to citizens,” Apata said. “The Lagos State House of Assembly remains fully committed to supporting policies that uphold best practices, compliance, and value for money in government contracting.”

The summit drew participation from key stakeholders in ministries, departments, and agencies (MDAs), as well as private sector experts and development partners, who collectively explored how the new tax framework can be harmonized with procurement objectives to improve governance outcomes and service delivery in Lagos State.