BusinessDay

AGF advocate strategies to manage pandemic-induced financial crisis in government

The Accountant General of the Federation, Ahmed Idris has charged public officers and critical stakeholders in the country’s economy on the development of strategies and practices that could be deployed to ensure effective management of financial challenges as occasioned by the COVID-19 pandemic.

Speaking during the two-day National Treasury Workshop, in Akwa Ibom State, Idris maintained that the financial shock inflicted on the national treasury by the COVID-19 pandemic has made it overly imperative to fashion out ways to effectively manage the economy during pandemics.

According to him, “the nation is currently in need of ideas that will help establish and sustain the consciousness of and accountability for public expenditure, efficient budget execution and resource allocation as well as effective public service delivery that accords value for money at all times.

“The workshop was meant to provide a forum for economic experts, officials of the Federal and State Governments, the academia and the private sector to brainstorm and come up with effective strategies for managing national economies in the face of pandemics and other global disasters.”

In his address, the Minister of State for Budget and National Planning, Prince Clem Agba noted that the dwindling revenue profile of the country and the attendant challenges on the cash flow occasioned by the COVID-19 pandemic called for prudent management of available resources and the evolution of better, more effective and robust administrative mechanisms to resolve the revenue challenges.

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He noted that in an effort to mitigate the impact of the pandemic, prevent potentially deep recession and accelerate quick recovery of the economy, the Federal Government had provided economic stimulus packages, mobilised external support/funding and increased the Non-Oil revenue generation.

He said, “As a result of these measures adopted by the government, health and economic data have continued to be on the positive trajectory despite the impact of the COVID-19 pandemic.”

Also speaking, the Governor of Akwa Ibom State, Udom Emmanuel commended the initiative of the Office of the Accountant General of the Federation in organising a workshop to look into ways and means of repositioning the Nigerian economy in a post-COVID-19 era.

He expressed optimism that the workshop will come up with ideas and approaches to stimulate and grow the Nigerian economy in a new world put forth by the COVID-19 pandemic.

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