President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to taming inflation and stabilising Nigeria’s economy through fiscal discipline, transparency, and active citizen engagement.
Speaking at the opening of the National Conference on Fiscal Governance, Transparency and Accountability, held in Abuja on Monday, Tinubu stressed that transparency and accountability are not optional but prerequisites for fiscal sustainability.
The three-day conference, organised by the National Assembly Public Accounts Committee (PAC), is themed “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development.”
Represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite, the president outlined reforms undertaken to enhance fiscal governance, including strengthening the Office of the Auditor General of the Federation, improving procurement transparency, and expanding the use of digital financial management systems across government agencies.
“These investments are to ensure that public funds are traceable, public officers are accountable, and Nigerians are empowered with information,” Tinubu stated.
He emphasised that good governance must be institutionalised as a standard rather than an aspiration, and that building strong, independent institutions is key to holding public officials accountable.
“We must institutionalise good governance, not as an aspiration, but as a standard. We must build institutions that are independent, efficient and empowered to hold power to account,” he said.
The president also highlighted the government’s focus on addressing structural bottlenecks, particularly in food supply chains, to ease inflationary pressures while maintaining fiscal discipline.
“We are determined to reduce inflationary pressures by addressing structural bottlenecks, particularly in food supply and in food supply chains, while exercising discipline in fiscal or public spending,” he added.
He underscored the importance of oversight, urging the National Assembly, especially its Public Accounts Committees, to discharge their constitutional responsibilities with integrity, courage, and independence.
“Let me be clear, transparency and accountability are not optional. They are a prerequisite for fiscal sustainability. We must move from opacity to openness, from suspicion to confidence,” Tinubu said.
“Oversight is not a political tool, but a patriotic duty,” he declared, adding that responsible budgeting and spending are necessary for achieving Nigeria’s developmental goals in education, healthcare, infrastructure, and job creation.
He also called for active public participation in governance. “I must mention that fiscal governance cannot be effective without active citizens’ engagement. Nigerians must be empowered to ask questions, to scrutinise public accounts and demand accountability.”
“I, therefore, urge the civil society, the media and the public to partner government in this journey, not as spectators, but as co-owners of the national project,” the president said.
Also speaking at the event, British High Commissioner to Nigeria, Amb. Richard Montgomery, reiterated the UK’s support for democratic accountability and public financial management in Nigeria.
Represented by William Robinson, Head of Governance, Conflict Resolution and Stability at the commission, Montgomery acknowledged Nigeria’s recent economic reforms, including fuel subsidy removal, currency adjustments, and tax reforms, as bold and necessary steps.
“These are significant steps toward sustainable, visible future. But reforms alone are not enough. For them to succeed, they must be accompanied by transparency, accountability and citizen engagement,” Montgomery said.
He added that innovation must be embraced in fiscal oversight, noting that “the future of accountability is participatory, transparent, and tech-enabled.”
