In a bid to ensure efficiency in government’s spending, the Federal Ministry of Finance has set up Efficiency Unit charged with the responsibilities of coming up with improved public financial management of government’s expenditures.
Inaugurating the Steering Committee of the Unit on Monday in Abuja, the Minister of Finance, Mrs. Kemi Adeosun said that the primary objective of the initiative was to assist the government in identifying opportunities to reduce wasteful and inefficient spending by doing more with less.
Mrs Adeosun stated that without a major intervention to manage the costs of government no amount of fiscal innovation, financial re-engineering or other well intentioned economic policy will deliver the desired results if the manner in which government money is expended is not carefully controlled.
Explaining the importance of the Unit to the nation’s economic development she said ‘’our vision is that our Efficiency Unit will be a ‘change agent’ and catalyst for improving the management and delivery of public services so that we make sure that every naira we spends counts.
She emphasized the need for the Efficiency Unit to provide policy recommendations to generate fiscal savings for higher priority uses especially capital expenditure.
According to her, the remit of the Efficiency Unit will be a wide one encompassing every ministry, department or agency that is in receipt of public funds. Spending public money is a trust and there must be both discipline and accountability in its uses.
– Paschal Emeka, Abuja