The Federal Government has reaffirmed its commitment to ensuring sound fiscal management and sustainable economic development.
Naijaonpoint reports that the Minister of State for Finance, Doris Uzoka-Anite, gave the assurance at the stakeholders’ review meeting on the Implementation of the Revised Policy on Cash Management and Bottom-Up Cash Planning Protocols, held, in Abuja, on Monday.
In a statement by the ministry’s spokesman, Mohammed Manga; Mrs. Anite said that the revised policy on Cash Management and Bottom-Up Cash Planning represented a pivotal step in the journey toward ensuring sound fiscal management and sustainable economic development.
The Minister explained that the policy, introduced in 2024, has shown “significant progress in streamlining budget execution, ensuring funds are allocated and utilized in line with approved plans, and facilitating timely project implementation”.
She noted that the policy increased transparency and accountability by introducing greater scrutiny and justification for fund requests, reducing opportunities for financial mismanagement, and safeguarding public funds.
The Minister highlighted the importance of data consistency across key government institutions to ensure accurate economic indicators and greater transparency.
She also stressed the need for structural reforms, particularly in agriculture, to boost food supply and ease inflationary pressures.
“By adopting this policy, we reaffirm our dedication to the efficient use of public funds, which is critical to driving impactful development programs and meeting the needs of our people,” she said.
Mrs. Uzoka-Anite, however, acknowledged that challenges still remain, including concerns about the policy’s processes taking too much time and the need for some Ministries, Departments, and Agencies (MDAs) to develop the necessary expertise and tools to fully implement the Bottom-Up Cash Planning approach.
“The Government is engaging in an open and constructive dialogue with stakeholders to identify areas for improvement and develop solutions,” she stated.
While reaffirming the government’s unwavering commitment to ensuring the success of the revised policy on Cash Management and Bottom-Up Cash Planning, she encouraged all stakeholders to actively participate, share insights, and propose actionable solutions.
“Together, we can build a more transparent, accountable, and efficient public financial management system that serves the best interest of all Nigerians,” she added.