2024 Budget to Be Fully Implemented, Says Edun

Edun promises complete implementation of the 2024 budget. Get insights into the plans and expected outcomes of this financial strategy.

The complete implementation of the 2024 Budget remains a top priority for the Federal Government, as it has reiterated its commitment towards this goal.

The pledge also included a commitment to foster an accountable and effective financial management scheme.

Yesterday, Mr. Wale Edun who is the Finance Minister and Coordinating Minister of the Economy made commitments.

During a meeting with the House of Representatives Committee on Public Accounts at the National Assembly in Abuja, he addressed those present.

Following the National Assembly’s approval of a Supplementary Appropriation Bill to increase 2024 Budget from N28.8 trillion to N35.05 trillion, Edun met with the House panel within the next day.

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The minister emphasized the government’s commitment to improving financial operations throughout all Ministries, Departments and Agencies (MDAs) by establishing a strong and transparent financial management system.

At the meeting, emphasis was placed on promoting a cooperative strategy towards addressing financial management difficulties and enhancing responsibility.

Bamidele Salam, the committee’s chairman, gave an update regarding multiple hearings held with MDAs surrounding issues of auditor reports and compliance.

The Committee chair emphasized the necessity of fixing inadequate accounting systems and internal controls in various MDAs, which were found to contain significant gaps. This action is crucial to guarantee proper financial management practices.

Salam emphasized the crucial role of preventing revenue losses in bolstering national finances and recommended that structural reorganization and comprehensive training for auditors are essential to strengthen financial processes across MDAs, promoting their integrity.

He emphasized the importance of promptly and effectively achieving predetermined objectives, urging for expeditious execution of the 2024 Budget.

The partnership between the Federal Ministry of Finance and the House of Representatives Committee on Public Accounts is a noteworthy advancement towards attaining an effective and clear financial management structure in Nigeria.

Both parties have made a promise to ensure that public funds are managed efficiently and with the highest level of transparency, creating a financially stable future for the nation.

The government’s dedication to improving financial transparency was emphasized by the minister, who reiterated their intention to address any gaps identified and implement crucial reforms.

He pledged that his ministry would collaborate closely with the Public Accounts Committee to execute strategies aimed at preventing revenue losses and enhancing overall financial management.

Several members of the House of Representatives actively participated in the meeting, among them were Jeremiah Umar, Daniel Asama Ago, Matthew Nwogu, Aliyu Bappa Nyampa Zakaria Dauda, Kuye Ademorin Akiba Bassey and Olatunji Akinosi.

The presence of the legislative body emphasized their united determination to endorse efforts that seek to improve financial transparency and efficiency.