The Federal Government has commenced a new phase of institutional reform focused on making Ministries, Departments and Agencies (MDAs) more efficient, predictable and responsive to businesses and investors.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, stated this on Thursday at a high-level strategic engagement with Heads of Agencies and other senior government officials at the headquarters of the Federal Ministry of Finance, Abuja.
The Minister said the next phase of Nigeria’s economic reforms must move beyond macroeconomic stability to improving the day-to-day experience of businesses dealing with government, stressing that agencies must operate strictly within their statutory mandates and eliminate overlapping requirements, fees and processes.
Under the emerging framework, MDAs will be required to adopt a “One Government” approach, with agencies coordinating directly with one another rather than passing the burden to applicants. Where mandates overlap, the objective will be one lead agency, one process and one fee, while unnecessary regulatory requirements will be reviewed.
The Minister also directed agencies to strengthen the way they introduce and implement regulations by consulting affected stakeholders, assessing the economic cost of proposed measures, coordinating across government and providing reasonable notice before major policy or regulatory changes.
On public finance, he emphasised that legally due revenues must be remitted fully and on time, with operating surpluses paid into the Consolidated Revenue Fund and audited accounts submitted as required by law.
Going forward, agency performance will be assessed by the speed of service delivery, compliance with published timelines and reductions in the cost of doing business.
The Minister announced that the Ministry will review submissions from participating agencies and provide specific feedback within four to six weeks, while the draft framework will be circulated for further consultation. Each agency will subsequently agree to measurable commitments whose implementation will be periodically reviewed.
He reaffirmed that the framework applies equally to the Ministry of Finance, noting that government must address institutional bottlenecks, including slow approvals, delayed releases and outdated rules.
The engagement underscores the Federal Government’s commitment to building institutions that enable businesses to invest, operate, expand and create jobs, while strengthening accountability and efficiency across the public sector.
Signed:
Mary-Ann Duke Okon
Senior Special Assistant On Communications & Press Secretary To The Honorable Minister Of Finance & Coordinating Minister Of The Economy.
Federal Ministry Of Finance.