Rivers State Governor Nyesom Ezenwo Wike has expressed the need to implement necessary reforms in line with global best practices to tackle the challenges of public financial management.
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Rivers State Deputy Governor, Dr (Mrs) Ipalibo Harry Banigo in a handshake with Accountant-General of the Federation, Nigeria, Alhaji Ahmed Idris during the 3-Days Public Finance Management Retreat for Honourable Members, House Committee on Finance and Key Stakeholders in the Executive at Hotel Presidential, Port Harcourt on 18th Dec. 2017.
Governor Wike stated this while speaking at a 3-day Public Financial Management Retreat organized by the Office of the Accountant General of the Federation for Hon. Members of the Federal House of Representatives, House Committee on Finance and key Stake holders in the Executive in Port Harcourt, South-South Nigeria.
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| Rivers State Deputy Governor, Dr (Mrs) Ipalibo Harry Banigo being welcomed by the Chairman, House Committee on Finance, Hon. Ibrahim Babangida (Right) and the Accountant-General of the Federation, Nigeria, Alhaji Ahmed Idris (2nd Right) during the 3-Days Public Finance Management Retreat for Honourable Members, House Committee on Finance and Key Stakeholders in the Executive at Hotel Presidential, Port Harcourt on 18th Dec. 2017. |
Represented by his Deputy, Dr. (Mrs.) Ipalibo Harry Banigo, Governor Wike said the call for effective revenue collection, equitable revenue allocation, efficient budgeting and effective budget execution cannot be over emphasized.
According to the Governor one of the first things his Administration did on assumption of office was to initiate strategic reforms in the State’s Public Financial Management System, to foster greater transparency, accountability and efficiency.
He said “apart from producing more realistic budgets based on pragmatic assessments of available resources, we are now more efficient and result oriented in the collection, allocation and management of available public resources”.
The State Chief Executive, who commended the Federal Government for the implementation of the single treasury account and the integrated personnel payroll system, however regretted that the system is marred with abuses in the areas of revenue collection and disclosures, revenue allocation and distribution, as well as budget execution.
Governor Wike, who expressed the hope that the retreat which aims at improving the principles and practices of public financial management in the country, will address the issues of transparency and accountability, commended the accountant General of the Federation, Ahmed Idris for organizing the retreat.
In his key note address on the theme “Understanding the Public Sector Reform Initiatives: Towards Greater Executive/Legislature Collaboration in Budgeting, Accounting and Reporting Processes” the Chairman, House Committee on Finance, Hon. Ibrahim Babangida described public sector reforms initiative as apt, timely and a noble idea.
The Accountant, General of the Federation. Alh. Ahmed Idris who echoed the core relevance of the National Assembly in ensuring smooth and timely passage of appropriation bills, expressed the Federal Ministry of Finance and the Office of the Accountant General’s commitment to ensuring that a modern and transparent Public Financial Management System prevails in Nigeria.
He disclosed that there is a continuous capacity building for staff, stepping up ethical compliance levels and adaptation of international best practices in Public Financial Management.
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