Nigeria is stepping up efforts to strengthen its public finance system, with new measures aimed at blocking revenue leakages and improving transparency across government operations.
At the centre of this push is Executive Order 9, which reinforces stricter rules on how public revenues are collected, remitted, and distributed within the system. Authorities say the move is designed to ensure that all earnings pass through the proper constitutional channels.
The News Chronicle reports that the reform targets long-standing issues such as off-budget spending, delayed remittances, and institutional retention of funds, which have limited the country’s true fiscal capacity.
According to Tanimu Yakubu, Nigeria’s difficulty is not merely a lack of income but rather the inability to completely record and report what has already been created.
Analysts believe that the program has the potential to boost fiscal discipline and rebuild trust if applied effectively, particularly given the government’s ongoing elimination of distortions in power rates, foreign exchange, and fuel prices.
Nevertheless, structural issues persist, notably the inequality between income sharing and federal level responsibilities that continues to strain national resources.
As governments aim to create a more open and sustainable economic framework, the changes indicate a move toward a more rule-driven fiscal system.
