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| Mrs. Oluwande Muoyo |
Ministries of Budget and Planning,
Finance and Offices of Accountants-General across the country have been
challenged to ensure that the execution of programmes and policies of
government are done strictly in line with the provision of the budget in order
to have a sound Public Expenditure Management.
A financial expert and the Managing
Director of Gogosa Limited, Mr. Bode Agusto threw this challenge in Abeokuta
while delivering a paper titled “Understanding the Federal Budget and its
Impact on State Government’s Finances” at a one–day seminar organised by the
Ogun State Ministry of Budget and Planning on Public Expenditure Management for
its staffers.
Mr. Agusto described the Federation
Account as a special account into which all revenues collected by the
government of the federation are paid except proceeds of the personal income
tax of the personnel of the armed forces, police foreign affairs among others.
He noted that beneficiaries of the account
include the Federal, State and Local Governments, pointing out that the bulk of
revenues realized by States with which they execute their programmes and
policies were drawn from the account.
Agusto charged State Governments to
be aware of their legal entitlements and rights with regards to the federation
account to ensure that they are not shortchanged, describing fiscal policies
such as the NLNG dividends, excess crude account, the Sovereign Wealth Fund
among others as examples of such shortchange which could reduce revenue
accruable to them.
As a result of this, he said there
was the need for the agencies to spend in line with expenditure approval given
by the legislature on developmental priorities that can be realistically
implemented and evaluate the impact of such policies and programmes on the
people.
Declaring the seminar open earlier,
the State Commissioner for Budget and Planning, Mrs. Oluwande Muoyo described
Public Expenditure Management as a process and method used by a government
entity to allocate and use its financial resources to provide public goods and
services in a responsible, efficient and effective manner.
She re-affirmed that her Ministry
was poised to ensure prudence, consistence in policy, sustainability and
delivery of value for money to the people.
According to her, the task of
spending government fund to execute the 5-cardinal programme of the present
administration was being done in a transparent and accountable manner, calling
on the people to give full support to the policies.
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