According to the Daily Post, the Presidency stated that President Bola Tinubu would probably introduce new measures to reduce government expenditures. The president recently abolished two ministries, which was seen as part of a broader plan to reduce the exorbitant cost of governance in Nigeria. The announcement is anticipated to include information on additional steps the administration will take to cut public sector expenditure even more.CONTINUE FULL READING>>>>>
In an interview, Bayo Onanuga, the President’s Special Advisor on Information and Strategy, disclosed this development. He clarified that the administration’s worries about the financial strain the current system of government is causing are reflected in the president’s decision to abolish the two ministries. The action is viewed as a component of a broader plan to cut wasteful spending and increase government efficiency.
Even if the ministries’ removal is a big step, additional cost-cutting initiatives are probably coming. It is expected that these measures, which have not yet been fully specified, will impact many government sectors. It is anticipated that the president will discuss these next steps in his upcoming announcements, which will probably include simplifying some tasks to prevent role duplication and wasteful expense.
In order to minimise exorbitant costs, the present administration has stressed the necessity of shrinking the government. The administration is searching for methods to guarantee more sustainable spending in light of the increasing strain on public budgets. The reduction in the number of ministries is just the beginning of what is likely to be a broader sequence of reforms aimed at strengthening the country’s budgetary health.
It is expected that the upcoming announcements will include new policies to help manage government resources more efficiently. The government has also prioritised ensuring that public funds are spent more prudently in order to improve service delivery and address critical areas of need in the country.
He added by saying; “The president will actually be announcing some cuts in government expenses. This started with the ministers.CONTINUE FULL READING>>>>>
