By 
Ngozi Okonjo-Iweala, former minister of finance, says billions of dollars were saved under her watch.
She served as finance minister from 2003 to 2006 as well as between 2011 and 2015.
Okonjo-Iweala, Nigeria’s candidate for the World Trade Organisation director-general election, made the claim in an article published on Bloomberg.
The article titled “To Beat Covid-19, Governments Need to Open Up” emphasises the need for accountability and transparency during the COVID-19 era.
Okonjo-Iweala, who presently serves on the board of Bloomberg task force on fiscal policy for health, said her two tenures “saved billions of dollars that were channeled to other priorities”.
She said governments across the world must adopt openness and accountability to tackle the coronavirus pandemic effectively.
“During my tenure as Nigerian finance minister, we worked hard in a difficult governance environment to open up information and tackle corruption. Though it was not easy, we saved billions of dollars that were channeled to other priorities,” she said.
“At a time when many governments are rapidly mobilizing financial resources from their own budgets, international markets and donors, it is vital that funds are not wasted.
“This openness should extend to the emergency budgets that have been established to fund healthcare systems and economic stimulus packages. Even in normal times, finance ministries need to publish their budgets in a way that encourages accountability and citizen engagement. Right now, it is even more important to reassure taxpayers that funds are being spent on the right priorities.
“Opening up procurement and budgets can only have the desired effect if citizens and civil society are empowered to follow the money. Journalists in several countries have already used freedom of information legislation and investigative reporting to shine a light on unfulfilled medical-equipment contracts with dubious, newly formed companies.
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