Revenue Generation: Lagos Finance Commissioner, Rabiu Olowo Honoured in South Africa

The Lagos State Commissioner for Finance, Dr. Rabiu Olowo, has emerged winner of the 40 under 40 African Awards held by The Black White Hover Law Practice in South Africa on Saturday.

Olowo won the award for his outstanding performance in governance and for his contribution to revenue generation, debt management, and astute management of the fifth-largest economy in Africa.

The award, which attracted 126 nominees and delegates from 23 countries across Africa, celebrates the continent’s most influential and accomplished young business leaders under the age of 40.

According to a statement issued by the Lagos State Government on Monday, under Olowo’s leadership as Commissioner of Finance, the state attained an unprecedented international triple-A rating by Fitch, an international rating agency.

“This rating is a reflection and testimonial of improved accountability, transparency, and integrity, especially in the management of public funds in Lagos State.

“Olowo has over the years demonstrated his commitment to making Lagos State the best city to live, work and do business by providing strategic collaboration through the arrangement of the financial and technical success of West Africa’s first metro line – Lagos Blue Line – which will move hundreds of thousands of people across the state daily.

“He championed the ministry towards increasing the state’s Internally Generated Revenue by double digits, evidenced by a Compound Annual Growth Rate of about 12 percent, and also worked with the state Ministry of Agriculture to deliver the biggest rice mill in Africa, Imota Rice Mill.”