Lagos DMO Partners with PwC to Strengthen State Debt Management Framework

The Lagos State Debt Management Office (DMO) has concluded a high-level two-day strategic retreat aimed at refining the state’s financial sustainability. Held at the Radisson Hotel in Ikeja, the retreat was organized in collaboration with PricewaterhouseCoopers (PwC). The session brought together financial experts and government officials to design an effective framework for managing the state's debt portfolio in a volatile global economy.

Opening the retreat, the Permanent Secretary of the DMO, Mrs. Alake Sanusi, highlighted the critical timing of the initiative. She noted that as Africa’s largest sub-national economy, Lagos State faces unique pressures in infrastructure development and social investment. The retreat’s primary goal was to ensure that borrowing remains prudent, transparent, and strictly aligned with the state’s long-term development objectives.

​The partnership with PwC reflects the DMO’s commitment to adopting global best practices in public sector finance. Throughout the sessions, participants focused on developing a comprehensive "Debt Management Strategy and Policy Framework." This framework is intended to help the state respond effectively to shifting macroeconomic conditions while maintaining a healthy risk exposure profile.

​Expert presentations were a core feature of the event, with insights provided by Dr. Baba Yusuf Musa, President of the Nigerian Economic Society, along with specialists from PwC. These sessions covered sustainable finance, risk management, and institutional capacity building, ensuring that representatives from the Ministry of Finance and the Ministry of Economic Planning and Budget were equipped with modern tools for fiscal oversight.

Mrs. Sanusi expressed confidence that the retreat’s outcomes would provide a solid roadmap for the state's financial future. By strengthening inter-agency collaboration between the Treasury Office and the DMO, the state aims to maintain its position as a model of fiscal responsibility in Nigeria, ensuring that every borrowed fund contributes directly to the resilience and competitiveness of Lagos.