INTERNATIONAL BEST PRACTICES GUIDE OUR FISCAL POLICY- EMU

Delta State state Commissioner for Economic Planning, Dr. Kingsley Emu, has said that the state economic policy implementation is hinged on global best practices.

The Commissioner stated this yesterday (12/04/2018) in Asaba at the ongoing ministerial press briefing by Ministries, Departments and Agencies (MDAs) in the state to address the press on the activities and achievements of his ministry at the Ministry of Information conference hall.

The Commissioner stated that part of the international best practices adopted by the state include, Fiscal Strategy Paper (FSP), Budget Codes and Chart of Account; preparation of three editions of the FSP 2016 – 2018, 2017 – 2019 and 2018 – 2020 in line with the Fiscal Responsibility Law.

According to Dr. Emu, the State Government has been able to prepare a Medium Term Sector Strategy of five key sectors of the economy which include Agriculture, Education, Environment, Health and Housing from which the Budgets of the State was largely derived from.

He also stated that the State Government has introduced Citizens’ Participation in Budget preparation process to make them own the budget.

According to the Commissioner, “By this process, the citizens’ would own, monitor and sustain any project in their community” saying that with this process, “The citizens take ownership of the project in their locality,” to ensure that contractors work according to project specification.

The Economic Planning Commissioner stated that the State Government had already organized policy dialogue with cross section of the citizens of Delta State where issues bordering on budget and budgeting, the citizens’ role in budget monitoring and the way forward were discussed.

Dr. Emu speaking on the preparation of Annual and Supplementary Budgets, revealed that the Ministry had successfully articulated the revised 2015, 2016, 2017 and 2018 budget estimates, saying “The approved 2018 Budget (Capital and recurrent Expenditure), has been circulated to the various Ministries, Departments and Agencies (MDAs), for their retention and expenditure guidance.

Giving the summary of the State Recurrent Budget Performance for the years 2015, 2016 and 2017, the Commissioner stated that the State achieved 81.50 on the average for the years under review.

For Capital Budget Performance for 2015, 2016 and 2017, the Commissioner stated that on the average, the State achieved 45.22 per cent of the budget while on the overall performance; the State Government achieved 66.11 per cent which according to Dr Emu “is on the increase.”

He revealed that in order to ensure strict control of government expenditures, the State Government had carried out strict review of memos and confirmation of votes of charge; back up with adequate budgetary provisions correctly charged to relevant heads of expenditure in the budget and adhere to relevant rules and regulations in line with government policies and programmes.

The Economic Planning Commissioner revealed that the State Government had reconstituted the 14-member Delta State Economic Management Team to function as a think tank that would drive the State development agenda.

Dr Emu said that the team has the responsibility of advising the government on the need to develop an economic blue print to guide government in making decisions on economic development and management of the state.

The team is also to, “Assist the State in the amendment of the Fiscal Responsibility Law 2008 and the Public Procurement Law 2009 to make them more implementable. They are to develop the Delta State Medium-Term Development Plan 2016 – 2019 and also assist in the signing of 15 projects Memoranda of Understanding (MoU)” Dr Emu said.