President Bola Tinubu has reaffirmed his commitment to reducing inflation to stabilise Nigeria’s economy through fiscal discipline, transparency, and citizens’ engagement.
Tinubu made this known while declaring open the National Conference on Fiscal Governance, Transparency and Accountability organised by the National Assembly Public Accounts Committee (PAC) in Abuja on Monday.
The News Agency of Nigeria (NAN) reports that the theme of the three-day conference is “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development.”
Represented by the Minister of State for Finance, Dr Doris Uzoka-Anite, the president said his administration had strengthened the role of the Office of the Auditor General of the Federation, enhanced the framework for procurement transparency and expanded the use of digital financial management systems across government agencies.
According to him, these investments are to ensure that public funds are traceable, public officers are accountable and the Nigerians are empowered with information.
Tinubu said good governance is a shared responsibility, adding that “the roles of the parliament are in oversight, while the judiciary upholds the rule of law, and the media enlightens the public.
“The civil society plays vital role in advocacy, as citizens’ participation is essential to building a Nigeria that is physically strong and socially just.
“We must institutionalise good governance, not as an aspiration, but as a standard. We must build institutions that are independent, efficient and empowered to hold power to account.
“We are determined to reduce inflationary pressures by addressing structural bottlenecks, particularly in food supply and in food supply chains, while exercising discipline in fiscal or public spending.
“Let me be clear, transparency and accountability are not optional. They are a prerequisite for fiscal sustainability.
“We must move from opacity to openness, from suspicion to confidence. In this regard, I call on the National Assembly and especially the Public Accounts committees to continue discharging their constitutional responsibilities with integrity, courage and independence.”
He added that oversight is not a political tool, but a patriotic duty, explaining that Nigeria’s ambition for sustainable development demands strategic investments in education, healthcare, infrastructure and job creation.
He, however, noted that these goals are unattainable without responsible budgeting and spending, adding that “every project must be guided by value for money, and every budget must reflect the real priorities of our people.
“I must mention that fiscal governance cannot be effective without active citizens’ engagement. Nigerians must be empowered to ask questions, to scrutinise public accounts and demand accountability.
“I, therefore, urge the civil society, the media and the public to partner government in this journey, not as spectators, but as co-owners of the national project.”
In his remarks, the British High Commissioner to Nigeria, Amb. Richard Montgomery, also reaffirmed commitment to the principles of democratic accountability and responsible leadership.
Represented by William Robinson, the Head of Governance, Conflict Resolution and Stability of the commission, Montgomery said that for over two decades, the United Kingdom stood alongside Nigeria in the journey to strengthen public financial management.
He said “Nigeria is undertaking bold economic reforms, from the removal of fuel subsidy to currency adjustments and the introduction of tax reform act.
“These are significant steps toward sustainable, visible future. But reforms alone are not enough. For them to succeed, they must be accompanied by transparency, accountability and citizen engagement.
“These principles will help to build public trust, reduce waste and corruption and ensure spending is focused on the priorities that this government has set.”
Montgomery said innovation must be embraced to ensure digital audit dashboards, citizen engagement, and oversight functions, stating that the future of accountability is participatory, transparent, and tech-enabled. (NAN)
