FG begins institutional reform, to review overlapping regulations across MDAs

 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.

 

Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, spoke on October 8 during a “strategic” engagement with heads of agencies and senior government officials at the ministry of finance headquarters in Abuja.

 

This is according to a statement by Maryann Duke, senior special assistant on communications and press secretary to the minister.

 

Oyedele 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.

 

 

He said agencies must operate 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,” the statement said.

 

“Where mandates overlap, the objective will be one lead agency, one process and one fee, while unnecessary regulatory requirements will be reviewed.”

 

 

Oyedele 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, the minister stressed that agencies must remit all legally due revenues promptly, transfer operating surpluses to the consolidated revenue fund and submit audited accounts 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,” he added.

 

Oyedele 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.

 

 

He said each agency will subsequently agree to measurable commitments whose implementation will be periodically reviewed.

 

The minister noted that the framework applies equally to the ministry of finance, adding that the government must address institutional bottlenecks, including slow approvals, delayed releases, and outdated rules.