News Editor
By David Odama
Senate on Tuesday decried the current state of the country’s fiscal governance be devilled by financial leakages, unaccounted funds, and broken audits.
Chairman of the Senate Committee on Public Accounts, Senator Ahmed Wadada Aliyu, in a remark during the opening ceremony of a 3-day national conference on fiscal governance in Nigeria in Abuja, condemned what he termed a disturbing pattern of financial recklessness, as can be seen in budgets being passed without adequate oversight, with funds released without commensurate outcomes.
According to Senator Wadada, fiscal governance is more than a technical concept but a moral backbone of public service, which can determine whether government revenue is being channelled towards the development of the country or not.
He said the task before the country is clear: to establish a culture of fiscal discipline anchored on transparency, accountability, and citizen-focused service delivery.
“In this era of global uncertainty, dwindling revenues, and public trust deficits, Nigeria must urgently reimagine its fiscal framework,” he stated.
The Chairman, Senate Public Accounts Committee, said the conference themed: “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development”, presents a strategic platform to not only diagnose the systemic leakages and inefficiencies but also prescribe bold and sustainable policy.
Senator Wadada revealed that more than 60% of Ministries, Departments, and Agencies (MDAs) persistently violate financial regulations, with critical institutions like NNPC, FIRS, CBN, and Customs routinely defying legislative oversight.
“We have witnessed funds released without measurable outcomes,” Wadada stated, adding that citizens are “too often overlooked in matters affecting their livelihoods.”
While noting that Nigeria is now turning around for the better, Wadada said the opportunity presents a new promise which demands that governance in Nigeria can and must reflect the highest ideals of service, equity, and stewardship.
“Let this gathering be more than a formality. Let it be the foundation of reform. Whether we serve in the legislature, executive, traditional institutions, civil society, or the private sector, the call is the same,” he added.
He emphasized that the 10th Senate is fully aligned with the goals of fiscal responsibility, open budgeting and efficient public spending, with the Upoer Chamber under the leadership of the Senate President, building institutional synergy across various arms of government to that fiscal recklessness becomes a thing of the past.
Senator Wadada added that the Senate is also reviewing existing fiscal legislation to close gaps and align with global best practices.
“Our nation has come far. Yet we must acknowledge, with courage and humility, that our journey has not been without detours. We have seen budgets passed without adequate oversight. We have witnessed funds released without measurable outcomes. And we have, too often overlooked the voices of citizens in matters that directly affect their livelihoods,” he said.
