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The Federal Government has reaffirmed its dedication to sound fiscal management and sustainable economic development through the implementation of the revised Cash Management Policy and Bottom-Up Cash Planning approach.
Speaking at the Stakeholders Review Meeting on the policy’s implementation in Abuja, the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasized that the revised framework is a crucial step toward improving public financial management and ensuring the efficient use of resources.
Dr. Uzoka-Anite highlighted the significant progress achieved since the policy’s introduction in 2024, noting improvements in budget execution, streamlined fund allocation, and enhanced project implementation timelines. The policy, she stated, has strengthened transparency and accountability by enforcing stricter scrutiny of fund requests, thereby mitigating financial mismanagement and protecting public funds.
Furthermore, she underscored the importance of maintaining data consistency across government institutions to improve economic indicators and promote transparency. She also called for structural reforms, particularly in the agricultural sector, to enhance food supply and curb inflationary pressures.
“By adopting this policy, we reaffirm our commitment to utilizing public funds efficiently to drive impactful development initiatives that meet the needs of Nigerians,” she stated.
However, Dr. Uzoka-Anite acknowledged existing challenges, including concerns about the policy’s processes being time-consuming and the need for Ministries, Departments, and Agencies (MDAs) to develop the requisite expertise and tools for effective implementation.
To address these concerns, she assured stakeholders that the government remains open to constructive dialogue, actively seeking feedback to refine the policy and enhance its effectiveness. She urged stakeholders to engage proactively, share insights, and contribute actionable solutions to optimize the system.
With the government’s unwavering commitment and the collaborative efforts of stakeholders, the Revised Cash Management Policy stands as a landmark initiative in strengthening Nigeria’s fiscal framework. As implementation progresses, it is expected to drive greater transparency, accountability, and efficiency in public financial management, ultimately fostering a more stable and prosperous economic future for the nation.
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