According to The Cable, During his tenure as President of Nigeria, Olusegun Obasanjo implemented strict financial controls on ministerial spending. In a recent discussion, Obasanjo highlighted one of these measures, emphasizing the limits he placed on the financial authority of his ministers. According to him, no minister was allowed to approve expenditures exceeding N25 million without obtaining explicit consent from the President himself>>>CONTINUE FULL READING HERE....CONTINUE READING THE ARTICLE FROM THE SOURCE
This policy was part of Obasanjo’s broader effort to maintain tight oversight over government expenditures and reduce the potential for financial mismanagement. By centralizing control over significant financial decisions, he aimed to ensure that all substantial government spending was thoroughly scrutinized and aligned with the administration’s priorities. Such measures were also intended to curb the misuse of public funds, a persistent issue in Nigeria’s political landscape.
Obasanjo’s administration, which spanned from 1999 to 2007, was marked by various initiatives aimed at promoting transparency and accountability in governance. The financial approval limit for ministers was one of several strategies employed to foster a more disciplined and transparent approach to public finance management. This move was seen as a way to reinforce the integrity of the administration and build public trust in government operations.
The former president’s remarks shed light on the administrative practices that characterized his leadership. By recalling these measures, Obasanjo underscored the importance of stringent financial oversight in government. His reflection also serves as a reminder of the challenges faced by leaders in ensuring that public funds are used effectively and responsibly.
Obasanjo’s policies on financial approvals highlight a significant aspect of his governance philosophy. His approach to managing ministerial spending remains a point of reference for discussions on government financial management in Nigeria. These measures, although sometimes seen as restrictive, were part of his broader vision to instill a culture of accountability and fiscal responsibility in the Nigerian government.
Olusegun Obasanjo said, “When I was president, no minister had the power to approve more than N25 million without express presidential consent>>>CONTINUE FULL READING HERE
