House of Representatives has reaffirmed its commitment to strengthening good governance through fiscal transparency, efficiency, accountability and responsibility.
The Chairman of the House Committee on Public Accounts, Hon. Bamidele Salami, made the pledge while addressing newsmen in Abuja yesterday.
The News Agency of Nigeria ,NAN, reports that the committee has an upcoming National Conference on Public Accounts and Fiscal Governance ,NCPAFG, to hold from Sunday July 6 to Thursday July 10, in Abuja.
Salam said that the high-level national conference would be convened as a key component of the 10th People’s House Legislative Agenda.
He said that the conference with theme: “Fiscal governance in Nigeria: charting a new course for transparency and sustainable development’, would set the foundation for sustainable national development.
“The conference is firmly committed to strengthening good governance as a foundation for sustainable national development.
“Anchored on the theme “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development”, he said.
Salam explained that the conference is a representation of a bold, deliberate, and strategic initiative by the House of Representatives to reposition Nigeria’s fiscal governance and public accounts management.
Salam who reiterated the lawmakers’ commitment to fiscal responsibility, said it is a roadmap towards greater integrity, enhanced efficiency, and robust accountability.
He also said that the conference will serve as a veritable platform to mainstream the Renewed Hope Agenda into global fiscal governance transparency.
“As a crucial stakeholder charged with the constitutional mandate to oversight public financial management activities and review reports of audit and accounting institutions,
“We note that Nigeria stands today at a critical juncture in its journey toward fiscal governance reforms”, he said.
The lawmaker who acknowledged some progress made under President Tinubu’s reforms, said there are entrenched systemic challenges.
According to him, these challenges include; limited full-cycle audit implementation, high-level institutional financial leakages, skewed and opaque public financial reporting system, and widespread non-enforcement of financial protocols across MDAs at all levels of government.
Salam reeled out available records from 2020/2021 Auditor Generals reports as testaments that over a quarter-trillion Naira in public expenditures remain unaccounted for.
He expressed worry that such persistent incidents of non compliance with financial regulations if unchecked will continue to erode public trust, undermine sustainable national development, and democracy.
He said: “Therefore, if Nigeria is to reap optimally the full benefits of the ongoing fiscal governance reforms initiated by the Tinubu-led administration,
“Then we must seize the opportunity of this conference as a platform for high-level national policy dialogue for galvanization of stakeholders’ commitment”.
He restated the committee’s unbridled belief as important stakeholder on the need to leverage the opportunity of the unique conference to deepen collaboration among Public Accounts Committees, especially at sub-national levels.
Salam, however, highlighted the expected outcomes to include; a significant reduction in unaccounted expenditures from over ₦300 billion to less than ₦1 billion in the next fiscal year 2026.
“A drop in the number of audit queries and rate of non-compliance with financial regulations from over 60% to less than double digit at 9% through rigorous capacity building development”, he added.
He said that President Bola Tinubu, would be the Distinguished Special Guest of Honour.
