FG to introduce efficiency unit to curb wastage
IN line with the current administration’s resolve to institute reform policies that will ensure effective management of the nation’s economy and reduce cost of governance, President Muhammadu Buhari has approved the establishment of an Efficiency Unit (E-UNIT) in the Federal Ministry of Finance.
The principal objective of the unit is to ensure that all government expenditure is necessary and represents the best possible value for money.
Available records have confirmed that currently, the nation’s recurrent expenditure completely dwarfs capital expenditure by a ratio of 84/16. This includes non-wage related overhead expenditure such as travel costs, entertainment, events, printing.
IT consumables, stationeries, etc. As at September 2015, the entire capital expenditure was just N194 billion while overhead expenditure was N272 billion. This scenario is considered unsustainable and at variance with the current administration’s resolve to reform the economy and reduce the cost of governance.