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Ugwuanyi for democratisation of public finance

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Ugwuanyi for democratisation of public finance

Governor lfeanyi UgwuanyiBy Anayo Okoli

ENUGU State Governor, Ifeanyi Ugwuanyi has been commended for the  democratization of his Public Finance development and management which has engendered accountability and fiscal responsibility in the state.

According to a Senior Special Assistant to the Governor of Enugu State, Aniekwe Chibuzor, Governor

“Ugwuanyi has entrenched unique paradigm evidently captured in democratization of his Public Finance development and management. It is therefore this democratisation of Public Finance that among other tendencies”.

This, he said has led to increasing “public participation in the administration’s budgetary process” as well as “draws greater impetus to the fact that Public Finance is literary the Finance of the People”, hence meeting the very “true essence of democracy beyond victory at the polls”.

“Currently, the reform which brought inclusiveness in need generation of budgetary expenditure items and also a full disclosure of government’s expected sources of revenues with their underlying assumptions to the people is a major milestone in the advancement of democratic tenets anywhere in the world”, Aniekwe explained.

Speaking further, he said: “Presently, it is my considered opinion that the Executive Governor of Enugu State through the State Ministry of Budget has fully internalized and consciously implemented the Charters and ramifications of a fiscal responsibility regime

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by inculcating and sustaining the following charters and tenets; Bill for an act for the enactment of Enugu State Fiscal Responsibility Law to entrench transparency and accountability as a matter of legality other than leaving same at the whims and caprices of individual leader’s subjective morality.

“Any Leader who subjects his tenure under this kind of legal scrutiny shows that such leader does not live in glasshouse and therefore could throw stone”.

Another vital tenet, he pointed out was the Medium Term Expenditure Framework (M-TEF) and Fiscal Strategy Paper.

According to him, “a fiscal responsibility regime shall always pursue greater Macro Economic sustainability and stability by creating a medium term economic framework and a strategic direction for it realizable. This medium term plan therefore encompasses all the annual budgets in the years under review and ensures continuity of thoughts, projections and realignment in events of variances between budgetary assumptions and realities”.

Describing Open Government Initiatives as an initiative of the Social Justice reform which provides greater democratic temerity to the people by fostering deeper disclosures to the people on the activities of government especially in Public Finance, he expressed joy that Ugwuanyi has signed in to the initiative thereby committing to abide by its derivatives.

“On a very special note therefore, it is worthy to point out some significant areas in which Governor has demonstrated in clarity the embodiment of a Fiscal Responsibility Regime.

“Governor Ugwuanyi has indeed set a robust path for economic recovery with the Capital Budget of 60%; I therefore encourage all able bodied youths to strategically position themselves for the massive direct and indirect positive multipliers effect that will come with this unleashing of economic gains in Enugu State”.

Vanguard News Nigeria

The post Ugwuanyi for democratisation of public finance appeared first on Vanguard News.

Source: Vanguard News

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