The Federal Government has reiterated its commitment to prudent fiscal management and economic stability through the implementation of the revised Cash Management Policy and Bottom-Up Cash Planning protocols.
According to The PUNCH, the Minister of State for Finance, Dr. Doris Uzoka-Anite, said this during a Stakeholders Review Meeting in Abuja, as conveyed in a statement by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga.
According to Uzoka-Anite, the updated framework represents a crucial step in strengthening fiscal discipline, improving budget implementation, and enhancing transparency in public financial management.
“This revised policy on Cash Management and Bottom-Up Cash Planning is a pivotal step in our journey toward ensuring sound fiscal management and sustainable economic development,” she stated.
She explained that since its introduction in 2024, the policy has made significant strides in streamlining budget execution, ensuring proper allocation and utilization of funds according to approved plans, and expediting the implementation of government projects.
Beyond improving efficiency, the minister highlighted that the policy has enhanced transparency and accountability by subjecting fund requests to greater scrutiny. This, she said, has reduced the potential for financial mismanagement and strengthened the safeguarding of public resources.
While acknowledging the progress made, Uzoka-Anite admitted that challenges remain, particularly concerns over the time-consuming nature of the policy’s processes and the need for some Ministries, Departments, and Agencies (MDAs) to build the necessary expertise for its full implementation.
“To address these concerns, we are fostering open and constructive dialogue with stakeholders to identify areas for improvement and develop practical solutions,” she said.
She further emphasized the importance of ensuring data consistency across government institutions to produce accurate economic indicators, which are crucial for effective fiscal planning.
Additionally, the minister noted that the government would prioritize structural reforms, especially in the agricultural sector, to boost food production and mitigate inflationary pressures.
Uzoka-Anite reassured stakeholders of the administration’s dedication to making the policy a success. She urged active participation, urging stakeholders to share insights and propose actionable solutions.
“Through collective efforts, we can build a more transparent, accountable, and efficient public financial management system for the benefit of all Nigerians,” she concluded.
