[1][2] The Ministry of Finance and Economic Development was established in April 1968.
In 2005, the PF/DMO, which had previously been a Ministry Department, was also elevated to the rank of Agency, with a Permanent Secretary as its head.
The PF/DMO was combined with the Office of Finance in 2015 as part of the current government's reorganization, and it continues to perform its statutory tasks.
[6] Committed to Effective Financial Risk Management, and leveraging on Private Sector Participation towards Achieving the Needs and Aspirations of Government and People of Lagos State.
[7] The ministry is in charge of developing and evaluating financial policies, monitors all income sources, coordinates all revenue consultants, is in charge of the Lagos State Mortgage Scheme, and develops plans and programs to help all revenue collecting agencies meet their goals.