FG raises concerns over delay in cash mgt., bottom-up cash planning processes
The Minister of State for Finance, Dr. Doris Uzoka-Anite on Monday raised concerns over Ministries, Departments, and Agencies (MDAs) delaying the Revised Policy on Cash Management and Bottom-Up Cash Planning Protocols approach processes, calling on government agencies to develop the necessary expertise and tools to fully implement the policy.
The Minister gave the assurance at the stakeholders review meeting on the implementation of the revised policy on cash management and bottom-up cash planning protocols, held in Abuja
The Director, Information and Public Relations, Federal Ministry of finance, Mr. Mohammed Manga disclosed in a statement.
She reaffirmed the FG’ commitment to ensuring sound fiscal management and sustainable economic development through the revised policy on Cash Management and Bottom-Up Cash Planning.
She stated that the revised policy on Cash Management and Bottom-Up Cash Planning represents a pivotal step in our journey toward ensuring sound fiscal management and sustainable economic development.
She explained that the policy, introduced in 2024, has shown significant progress in streamlining budget execution, ensuring funds are allocated and utilized in line with approved plans, and facilitating timely project implementation.
She stated further that the policy has increased transparency and accountability by introducing greater scrutiny and justification for fund requests, reducing opportunities for financial mismanagement, and safeguarding public funds.
The Minister highlighted the importance of data consistency across key government institutions to ensure accurate economic indicators and greater transparency. She also stressed the need for structural reforms, particularly in agriculture, to boost food supply and ease inflationary pressures.
By adopting this policy, we reaffirm our dedication to the efficient use of public funds, which is critical to driving impactful development programs and meeting the needs of our people, she emphasized.
She, however, acknowledged that challenges still remain, including 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, she said, The Government is engaging in an open and constructive dialogue with stakeholders to identify areas for improvement and develop solutions.
While reaffirming the Government’s unwavering commitment to ensuring the success of the revised policy on Cash Management and Bottom-Up Cash Planning, Dr. Uzoka-Anite encouraged all stakeholders to actively participate, share insights, and propose actionable solutions.
She assured that together, we can build a more transparent, accountable, and efficient public financial management system that serves the best interest of all Nigerians.
As the present administration continues to strengthen its fiscal management framework, the Revised Cash Management Policy serves as a major milestone towards a more transparent, accountable, and efficient public financial management system. With the Federal Government ‘s unwavering commitment to its success and the collective efforts of all stakeholders, we can build a brighter financial future for all Nigerians.
