Adebayo Adenrele
Governor Biodun Oyebanji of Ekiti State has stated that his administration is irrevocably committed to raising the standard of fiscal management in order to drive its shared prosperity agenda for the state.
Oyebanji made this known in Ado Ekiti while declaring open a three-day workshop on National Chart of Accounts (NCOA)- Compliant Budget 2023 for Directors of Finance and Accounts; Directors of Administration and Supplies; and Directors of Planning, Research and Statistics (DPRS) in the state MDAs.
He noted that his administration places high premium on transparency, accountability and openness in the equitable distribution and utilization of the meagre resources available to the state.
The Governor stated that the workshop was deliberately conceived and put together to grow the capacity of the top echelon of the public service at the Directorate level in the realization of his Governance Agenda, which is one of the six pillars upon which his administration is anchored.
Governor Oyebanji, who re-echoed his administration’s zero tolerance for fiscal indiscipline, said his administration will not tolerate infraction of any sort as any erring MDA will be sanctioned appropriately adding that he has authorised the issuance of a circular on the need for fiscal discipline to serve as a guide in the implementation of the 2023 Budget as all MDAs must ensure strict adherence to the spirit and letter of the 2023 Appropriation Law.
He added that his government would not relent in its efforts at entrenching and sustaining invaluable fiscal reforms that would further promote openness and transparency in public finance.
The Governor disclosed that all the States of the federation unanimously adopted the NCoA-Budget Template as the benchmark for budget preparation and financial reporting at the sub-nationals and the Federal Capital Territory (FCT), which had helped to simplify financial reporting and also made the annual estimates more detailed, open and transparent.
He stated that the workshop was organized by the government to grow the capacity of top level public servants at the directorate level. This, according to him, is geared towards the actualization of the agenda of government which may not be realized without an appropriate governance structure.
Explaining further, the Governor informed the gathering that the State officials were doing very well in meeting the Disbursement Links of the World Bank’s State Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme-for-Results (P-for-R), and expressed confidence that same feat would be achieved in the new State Action Business Enabling Reforms (SABER) of the World Bank, which is the latest version of SFTAS.
According to him, “The present administration, under my leadership places high premium on transparency, accountability and openness in the equitable distribution and utilization of the meagre resources available at our disposal. The only document readily available to achieve this lofty goal is our annual budget. Against this background, my administration makes no pretension in entrenching and sustaining invaluable fiscal reforms that will further promote openness and transparency in public finance. We are irrevocably committed to our goal of raising the standard of fiscal management in Ekiti to the best practices across the world.
“In 2021, all the States of the federation unanimously adopted the NCoA-Budget Template as the benchmark for budget preparation and financial reporting at the sub-nationals and the Federal Capital Territory (FCT) to make the process uniform and easily comparable. The NCoA Template has simplified financial reporting and also made our annual Estimates more detailed, open and transparent. It has further enlisted the trust and confidence of our Development Partners in our Budget process.” The Governor stated.