BY SAM OTUONYE and CHARLES OLEWEZI
A former Senior Special Assistant to President Mohammadu Buhari on National Assembly Matters, Senator Ita Enang, has accused the major agencies of government especially those under the Federal Ministry of Finance of creating inflationary pressures on the economy through their non-budgetary spendings.
The agencies include the Central Bank of Nigeria (CBN), Nigerian Deposit Insurance Corporation (NDIC), Nigerian Ports Authority (NPA), and Nigerian Maritime Administration and Safety Agency (NIMASA). He said their refusal to present their annual agencies budget for consideration by the National Assembly makes it difficult for the Ministry of Finance to coordinate their total expenditure for planning purposes. This attitude he said, is a major cause of inflation in Nigeria.
Senator Enang disclosed this on Thursday, while presenting a key note address at a high-level interactive session organized by the Federal Ministry of Finance with members of the National Assembly, Heads of Agencies and Directors of the Ministry, in Abuja.
The two days programme with the theme: “Strengthening Collaboration for Sustainable Financial Management and National Development” brought together all the Agencies of the Federal Ministry of Finance and its Directors as well as Members of the Committees of Finance and Banking of the National Assembly.
He said, “CBN, NDIC, NNPC, NIMASA behave like separate governments. Most of them want to be on their own. They are responsible for the accident that has happened to Nigeria today. As I am talking to you now, the budget of CBN, NNPC and others are still pending to be passed by the National Assembly. When I was the Chairman of the House of Representative Committee on Rules and Business, I noticed that these agencies hardly bring their budgets to the National Assembly for considerations, I then proposed a bill that should compel the CBN and other such agencies to make sure their budgets are brought to the National Assembly. CBN mobilized all the banks at the public hearing to kick against the bill.”
In his opening remarks, the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun praised the present administration of President Bola Ahmed Tinubu for redirecting the Nigerian economy to the path of sustainable growth and development.
He said, “The agenda of this government is to reform the economy. After 40 years of just exporting crude oil, Nigeria is today exporting a lot of processed products thereby adding value to them. This is a big leap forward for us as a nation.”
Other dignitaries who gave goodwill messages at the event include the Minister of Budget and Planning, Senator Atiku Bagudu, the Chairman Senate Committee on Finance, Senator Sani Musa, Chairman Senate Committee on Banking, Senator Mukhail Abiru and the Minister of State for Finance, Dr. Doris Uzoka-Anite who gave an opening remark. The two days event later went into technical sessions.