FG announces plans to introduce zero-based budget system

Posted by News Express | 15 October 2015 | 2,808 times

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The Federal Government has announced plans to introduce a zero-based budget system as a step towards fighting corruption and blocking leakages in the public service.

Addressing participants at the Nigerian Economic Summit on Wednesday, Vice President Yemi Osinbanjo said that the initiative would require ministries, departments and agencies to justify their budgetary allocations for each year.

With over 500 federal agencies in the country, a great chunk of the nation’s budget goes into payment of workers’ wages, but the new administration said that it has come up with a system to ensure that unnecessary items are not listed in the budgets of federal institutions except for projects with direct impact on the economy.

Prof. Osinbajo said that although the process would be rigorous and stressful, it would ensure transparency and accountability.

Economic experts gathered for a second day at the National Economic Summit to discuss how to reform the nation’s public sector through transparency and accountability.

Recommendations from countries that have done well in the areas of stamping out corruption in their public service were discussed. According to former Prime Minister of Georgia, Nika Gilauri, a key step to achieving same result in Nigeria should be in the areas of staff motivation and capacity building.

Others were of the view that fighting corruption in the public service can only be achieved through the collaboration of the private sector who could serve as whistle blowers when shady deals are discovered.

Although tackling corruption in the public service would require concerted efforts by government and a new orientation by the nation’s workforce, the consensus was that a more transparent public service is achievable if the right policies are in place. (Channels TV)

Photo shows Managing Director of The Shell Petroleum Development Company of Nigeria Ltd and Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor (2nd left), conducting Vice President Yemi Osinbajo round the Shell exhibition stand at the ongoing 21st Summit of the Nigeria Economic Summit in Abuja… on Tuesday.

Source: News Express

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