Lagos State Government through the Ministry of Physical Planning and Urban Development has signed a Memorandum of Understanding (MoU), with eTranzact, a foremost Fintech Company, to curb unregulated development, manage setbacks and open spaces and improve the beautification of the environment in Lagos State.
The MoU was signed by Olajide Babatunde, the Special Adviser to Governor Babajide Sanwo-Olu on e-GIS and Planning Matters, on behalf of the Commissioner for Physical Planning and Urban Development, Omotayo Bamgbose-Martins, and also, Oluwole Sotire, the Permanent Secretary of the ministry, while the Managing Director of eTranzact, Niyi Toluwalope and Group Head, Legal of eTranzact, Emeh Godwin, signed for the Fintech.
The MoU is expected to strengthen the partnership between Lagos State Planning and Environmental Monitoring Authority (LASPEMA) and eTranzact, to sanitise and regulate activities of setbacks and Incidental Open Spaces (IOS) and ensure physical orderliness in Lagos State.
Under the MoU, the two parties will deploy an integrated technology solution for data collection, management, and digitization of revenue collection processes from the informal business players operating on the setbacks and Incidental Open Spaces (IOS) in Lagos State to regulate setbacks/IOS and enhance the State Internally Generated Revenue.
Babatunde said the initiative was a public-private partnership that would yield a good result hence the need to take care of the environment, adding that the MoU is for accountability and in the interest of the general public in Lagos State, as well as improving the IGR of Lagos State.
The Managing Director of eTransact, Niyi Toluwalope, said the project would develop solutions on data, enumeration, reordering setbacks, and putting incidental open spaces in an orderly manner, among other benefits.
“eTranzact is a premier technology solutions company in Nigeria. Today we are partnering with the Lagos State Government and LASPEMA for the enumeration and data management of the occupants of the setbacks and incidental open spaces within the City. We are licensed by the Central Bank of Nigeria (CBN) to provide this service.
“The Lagos State Government has taken this laudable initiative to identify the setbacks, enumerate the people on these setbacks, do the necessary data capture, and manage the entire setback infrastructure in the State so that it is structured; following the proper model for setbacks, improves beautification, improves transparency within the environment and ensures that our critical urban infrastructure is well laid out properly to ensure Lagos functions as a major critical landmark with global recognition.
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