There are clear indications that there is a new discipline in fiscal operations in government, including Ministries, Departments and Agencies (MDAs).
According to the Buhari Media Organisation (BMO), a close observer will appreciate that fiscal expenditures are transparent and disbursements are geared towards developmental projects that cater to the interest of Nigerians.
In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO said this is as a result of the sustained and firm onslaught against corruption by the Muhammadu Buhari-led administration.
“Corruption was so entrenched in the past that it somewhat took on a garb of government policy. Capital funds meant for development projects were doled out as political patronage. Not any more. Today, all the loose ends have been tied up.
“Building strong and reliable institutions has always been the focal objective of the administration. Deploying technology in the fight against corruption has been effective. Funds that would have been looted are being injected into the economy.
“A deliberate fiscal restructuring is being implemented through the Treasury Single Account (TSA) which resulted in the savings of over N10 trillion. The government also saved N288 billion through the implementation of the Integrated Personnel and Payroll Information System (IPPIS) which is the Efficiency Unit (E-Unit) for government expenditure in the MDAs.
“President Buhari’s commitment to the fight against corruption is boosting Nigeria’s image internationally and attracting a plethora of foreign stakeholders in collaborating with the Nigerian government in tracking illicit financial flows and repatriation of stolen funds to the country”.
According to the BMO, the fight against corruption would have more impact if all the three tiers of government implement these laudable policies which have been successfully implemented by the Buhari administration. This way a robust delivery in the fight against corruption would be achieved.
“Nigeria is domesticating multilateral frameworks to sustain this fight. Nigeria’s membership of the Open Government Partnership (OGP), a global and reputable body committed to accountability and transparency in the management of public office, underscores these government’s commitment.
“The Nigeria Extractive Industries Transparency Initiative (NEITI) is already keying into this laudable policy, as its Beneficial Ownership Disclosure (BOD) makes it compulsory to report owners of companies operating in the extractive industries and have a public register of owners and corporate entities.
“Nigerians should take cognisance that this is the first time a Nigerian President is giving his total political will in the fight against corruption with the aim of triggering a multiplier effect on the economy and ensuring that abandoned legacy projects are commissioned and marshalled into the economic base,” the statement added.
BMO enjoins Nigerians to understand that the negative impact of corruption and poor governance had held Nigeria back from harnessing her full economic potentials.