FG begins institutional reform, to review overlapping regulations across MDAs

FG begins institutional reform, to review overlapping regulations across MDAs

 The federal government has commenced a new phase of
institutional reform focused on making ministries, departments, and agencies
(MDAs) more efficient, predictable and responsive to businesses and investors.

 

Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, spoke on October 8 during a “strategic” engagement with heads
of agencies and senior government officials at the ministry of finance
headquarters in Abuja.

 

This is according to a statement by Maryann Duke, senior
special assistant on communications and press secretary to the minister.

 

Oyedele said the next phase of Nigeria’s economic reforms
must move beyond macroeconomic stability to improving the day-to-day experience
of businesses dealing with government.

 

 

He said agencies must operate within their statutory
mandates and eliminate overlapping requirements,  fees and processes.

 

“Under the emerging framework, MDAs will be required to
adopt a “One Government” approach, with agencies coordinating directly with one
another rather than passing the burden to applicants,” the statement said.

 

“Where mandates overlap, the objective will be one lead
agency, one process and one fee, while unnecessary regulatory requirements will
be reviewed.”

 

 

Oyedele also directed agencies to strengthen the way they
introduce and implement regulations by consulting affected stakeholders,
assessing the economic cost of proposed measures, coordinating across
government and providing reasonable notice before major policy or regulatory
changes.

 

On public finance, the minister stressed that agencies must
remit all legally due revenues promptly, transfer operating surpluses to the
consolidated revenue fund and submit audited accounts as required by law.

 

“Going forward, agency performance will be assessed by the
speed of service delivery, compliance with published timelines and reductions
in the cost of doing business,” he added.

 

Oyedele announced that the ministry will review submissions
from participating agencies and provide specific feedback within four to six
weeks, while the draft framework will be circulated for further consultation.

 

 

He said each agency will subsequently agree to measurable
commitments whose implementation will be periodically reviewed.

 

The minister noted that the framework applies equally to the
ministry of finance, adding that the government must address institutional
bottlenecks, including slow approvals, delayed releases, and outdated rules.

Source: FG begins institutional reform, to review overlapping regulations across MDAs



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