FG Lauds Progress in Revised Cash Management Policy
By Patience Ikpeme
The Federal Government has commended the progress made in implementing the revised policy on Cash Management and Bottom-Up Cash Planning, introduced in 2024.
Minister of State for Finance, Dr. Doris Uzoka-Anite, disclosed that the policy has significantly streamlined budget execution, ensuring funds are allocated and utilized efficiently, and facilitating timely project implementation.
Speaking at the Stakeholders Review Meeting on the Implementation of the Revised Policy on Cash Management and Bottom-Up Cash Planning Protocols in Abuja, Dr. Uzoka-Anite emphasized that the policy represents a pivotal step towards achieving sound fiscal management and sustainable economic development.
She explained that the policy has enhanced transparency and accountability by introducing greater scrutiny and justification for fund requests, thereby reducing opportunities for financial mismanagement and safeguarding public funds. The Minister reiterated the government’s commitment to ensuring sound fiscal management and sustainable economic development through the continued implementation and refinement of this policy.
Dr. Uzoka-Anite also highlighted the importance of data consistency across key government institutions to ensure accurate economic indicators and greater transparency. She stressed the need for structural reforms, particularly in the agricultural sector, to boost food supply and mitigate inflationary pressures.
While acknowledging the success of the policy, Dr. Uzoka-Anite also recognized existing challenges, such as concerns about the policy’s processes taking too much time and the need for some Ministries, Departments, and Agencies (MDAs) to develop the necessary expertise and tools to fully implement the Bottom-Up Cash Planning approach.
To address these challenges, the Government is actively engaging with stakeholders in an open and constructive dialogue to identify areas for improvement and develop effective solutions.
Dr. Uzoka-Anite encouraged all stakeholders to actively participate in this process, share their insights, and propose actionable solutions. She emphasized that through collaborative efforts, Nigeria can build a more transparent, accountable, and efficient public financial management system that serves the best interests of all citizens.
