Nigeria’s fiscal problems need concrete solutions, says Ag AGF, Anamekwe

Anamekwe

The Acting Accountant General of the Federation, Chukwunyere Anamekwe, has called on stakeholders to proffer concrete solutions to the country’s fiscal challenges.

Anamekwe, who made the call on Tuesday at the opening of the 2022 Retreat for Members of the Technical Sub-Committee on Cash Management, said the dwindling revenues, coupled with increasing wage bills and increase in expenditure due to mounting security challenges and social needs of the citizenry require fiscal discipline and deployment of strategies that will help mitigate the financial challenges while boosting revenue generation.

Director, Information, Press and Public Relations in the Office of the Accountant General, Henshaw Ogubike who confirmed the development in a statement said Anamekwe maintained that the government cannot continue to borrow to fund its objectives, adding that in the face of fluctuating oil revenues, stakeholders should come up with ideas and strategies to boost internally generated revenue.

The Ag Accountant General of the Federation charged participants to identify challenges to revenue generation and other means of enhancing inflow into Federal Government coffers.

He said stakeholders must cut down the cost of governance in the most acceptable way, and give useful advice to the Federal Cash Management Committee.

The 2022 Technical Sub-Committee on Cash Management (TSCM) Retreat, which is the 4th Edition, has the theme, “Enthroning Fiscal Discipline in Nigeria’s Public Financial Management: A Clarion Call to All Stakeholders.”

The retreat aims to improve the capacities of members/stakeholders and get them more acquainted with Nigeria’s fiscal challenges and advance recovery strategies that will enable effective fiscal management and avoidance of deficits.

Inaugurated in April 2016, the technical sub-committee on cash management is the professional arm of the Federal Cash Management Committee. Among other functions, the technical sub-committee obtains stakeholders’ inputs, deliberates on them and makes proposals to the Federal Cash Management Committee for approval regarding the payment of personnel costs, pension/gratuities as well as statutory transfers.

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