Public Financial Management Reforms in Nigeria (Presentation Slides)

Abstract

The Federal Government of Nigeria began public finance management reforms to address the challenges of transparency, accountability, corruption, and poor service delivery. There was a recognition that the country had not made much progress in its economic development efforts due to these challenges. Consequently in 2004, the country embarked on Economic Reforms and Governance Project (ERGP) sponsored by the World Bank to address the challenges. This has led to the introduction of Integrated Payroll and Personnel Information System (IPPIS), Government Integrated Financial Management Information System (GIFMIS), Treasury Single Account (TSA), E-Payment, and International Public Sector Accounting Standards (IPSAS). Some legislation has also been enacted in the areas of fiscal responsibility and public procurements. The implementation of these reforms is beginning to yield results. It, however, requires sustained political will, commitments, capacity enhancement, and funding for the county to reap the full benefits of these reforms.