President Muhammadu Buhari on Monday urged governments at all levels
to be prudent in the management of resources at their disposal to ensure
national growth, job creation and equity in the country.
The president, who was speaking at the inauguration of the National
Economic Council in Abuja, pledged to ensure that his administration
upholds accountability, transparency and integrity in the distribution
of revenues in the Federation Account in line with the provisions of
Sections 80 and 162 of the Constitution.
Cultivating the culture of prudent management of resources at all
levels of government, he said,
would entail looking inwards to secure
sustainable ways of increasing internally generated revenue and
harnessing growth potentials of each State to supplement the allocation
from the Federation Account.
He challenged the various state governments whose governors are
members of the council to initiate projects that would meet the
immediate needs of the people in their domains, taking into account the
limited resources at their disposal.
As a matter of urgency, he said he wanted members of the Economic
Council to explore efficient means of gradually clearing all unpaid
salaries of staff, to remove the untold hardship this has brought to
thousands of families in recent times.
He promised that his administration would ensure that all revenue
generating agencies complied with stipulated Financial Regulations and
Administrative Instructions in their remittances into the Consolidated
Revenue Fund.
The revenue agencies include the Nigerian National Petroleum
Corporation, Nigeria Customs Services, Federal Inland Revenue Services,
Nigeria Ports Authority, Central Bank of Nigeria, Nigeria Maritime
Administration and Safety Agency and Nigeria Liquefied Natural Gas.
Restating the primary objective of his administration – to tackle
insecurity, youth unemployment through the revival of agriculture, solid
minerals mining as well as small and medium size businesses — Mr.
Buhari said his administration was fully committed to sustainable
visionary initiatives and programmes that would restructure and
transform the country’s economy.
“I urge you all to ensure that we surmount these enormous challenges
facing us as a country by working to support economic policies, which
the government will soon unveil to grow our economy and finance our
external promises,” he said.
“We are also committed to ensuring collaboration and facilitation of
the International efforts to combat threats of cross-border terrorism,
sea piracy, refugees, Internally Displaced Persons (IDPs), financial
crimes, cyber-crimes, climate change, spread of communicable diseases
and other challenges of the 21st century,” he added.
He underlined the need for close cooperation and collaboration among
neighbouring states on projects, such as interstate and feeder roads,
soil erosion, desertification and other developmental programmes,
pointing out that as one country, they had the responsibility to lead by
example.
Despite the challenges of pervasive corruption, fuel and power
shortages, public service reforms, the president underscored the need to
allow every tier of government to exercise its constitutional
responsibilities.
“As far as is possible, there should be distance between politics and development programmes,” he said.
The NEC, as one of the Federal Executive bodies, was established by
the provisions of the Constitution of the Federal Republic of Nigeria
(1999), as amended, Third Schedule, Part I, Section 153: Sub section (18
& 19).
It has the mandate to advise the President on the country’s economic
affairs, and in particular on measures necessary for the co-ordination
of the economic planning and programmes of the various governments of
the Federation.
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