Home Brand Talk FINTECH BRAND, ETRANSACT and LASPEMA SIGNS MoU to MANAGE SETBACKS, OPEN SPACES IN LAGOS
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FINTECH BRAND, ETRANSACT and LASPEMA SIGNS MoU to MANAGE SETBACKS, OPEN SPACES IN LAGOS

The Lagos State Government, through the Ministry of Physical Planning and Urban Development, has signed a Memorandum of Understanding (MoU) with eTransact, a leading Fintech company, to curb unregulated development, manage setbacks and open spaces, and improve environmental beautification in the state.

The Lagos State Planning and Environmental Monitoring Authority (LASPEMA) and eTransact have signed a Memorandum of Understanding to regulate and sanitize activities of setbacks and Incidental Open Spaces (IOS) and ensure physical orderliness in Lagos State, Nigeria. The partnership will involve the deployment of integrated technology solutions for data collection, management, and digitization of revenue collection processes from informal business players operating on the setbacks and IOS in Lagos State. This will regulate setbacks/IOS and enhance the State Internally Generated Revenue. The MoU was signed by representatives of both parties and is expected to improve the IGR of Lagos State and enhance social and political sustainability of businesses. The initiative is a public-private partnership aimed at yielding good results and improving the environment. The LASPEMA General Manager disclosed that the agency is collaborating with other ministries, departments, and agencies on urban development to improve security and order in the use of land in tandem with the state’s developmental plans to enhance social and political sustainability of businesses.

Speaking during the signing of the MoU held at the State Secretariat in Alausa, Ikeja, the Special Adviser to Governor Babajide Sanwo-Olu on e-GIS and Planning Matters, Dr. Olajide Babatunde said the initiative was a public-private partnership that would yield a good result hence the need to take care of the environment. He said 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.

Also speaking, the Managing Director of eTransact, Mr. Niyi Toluwalope, said his organization is partnering with Lagos State Government for social development, noting that the project would develop solutions on data, enumeration, reordering setbacks, putting incidental open spaces in an orderly manner, among other benefits.

He said: “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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