FEC Moves To Reduce Cost Of Governance..Approves Implementation Of Oronsaye Panel Report - EDU-BIZNEWS


Monday, February 26, 2024

FEC Moves To Reduce Cost Of Governance..Approves Implementation Of Oronsaye Panel Report

The Federal Executive Council (FEC) has approved the implementation of part of the Stephen Oronsaye Panel report to merge some parastatals, agencies, and some commissions, while others will be subsumed, scrapped or relocated.

Special Adviser to the President on Policy Coordination, Hadiza Bala Usman who announced the decision to newsmen at the Villa in Abuja,  after the FEC meeting chaired by President Bola Ahmed Tinubu on Monday, explained that the decision was in line with the need to reduce cost of governance and streamline efficiency across the governance value chain.

FEC according to her, also received a report from the inter-ministerial panel set up to review the affairs of the National Social Investment Programme.

The Council further approved the immediate restart of the direct payments to 12 million households comprising 60 million Nigerians with key provisos.

Edu-Biznews recalled that in 2011, then President Goodluck Jonathan set up the Presidential Committee on Restructuring and Rationalisation of Federal Government Parastatals, Commissions and Agencies with Oronsaye as chairman.

In April 16, 2012, the committee submitted an 800-page report identifying, amongst several other things, overlapping agencies, causing wastage in expenditure.

The report said there were 541 parastatals, commissions and agencies and recommended that 263 of the agencies should be reduced to 161, 38 agencies abolished and 52 merged.

There were some motion without movement on the report during ex-President Muhammadu Buhari eight years in office but the new government said implementing the report aligned with its cost-cutting measures.

There has been huge cry by the major stakeholders on the need for government at all levels to cut down drastically the high cost of governance, considering the reality of economic hardship being experienced in the country 

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