Abuja – A recent analysis by financial daily Sunday PUNCH has revealed the Federal Government stands to save over N241 billion through implementing recommendations of the 2011 Stephen Oronsaye report on public sector reforms.
The Oronsaye report aimed to streamline the bloated bureaucracy by rationalizing the 541 Federal Government parastatals, commissions and agencies. It proposed reductions, mergers and abolishment of certain bodies.
Specifically, the report called for reducing 263 statutory agencies to 161, abolishing 38 altogether while merging 52 others. It also sought reverting 14 agencies to ministries.
Some key agency changes and associated projected savings included:
– Abolishing the Federal Character Commission could net N3.6 billion in annual savings according to the report.
– Merging the EFCC, ICPC and Code of Conduct Bureau into a single anti-corruption body was estimated would save N31.5 billion per year.
– Transferring infrastructure regulatory roles to existing bodies such as merging the Infrastructure Concession Regulatory Commission into the Bureau of Public Enterprise could save N1.9 billion.
– Coming the Border Communities Development Agency under the National Boundary Commission was projected would yield N4.1 billion in savings.
Other recommendations targeted reorganization and funding changes for entities like the National Institute for Policy and Strategic Studies, National Emergency Management Agency and Nigerian Institute of Social and Economic Research.
Full implementation of the Oronsaye report offers the potential for over N241 billion in annual savings according to financial analysts. This could boost efficiency and accountability while improving public services. It remains to be seen if the government will finally act on these long-standing reform proposals.