Nigeria losing over N862b yearly as MDAs exceed 900, says Oye
• Urges immediate implementation of Oronsaye Report
• Laments agencies’ deduction of N658b as revenue collection cost
The Chairman of the Alliance for Economic Research and Ethics (AERE), Dele Oye, has decried the rising cost of governance, warning that Nigeria is losing over N862 billion to the proliferation of Ministries, Departments and Agencies (MDAs) to over 900, which he said is worsening the business environment and undermining economic growth.
In a statement, Oye urged the federal government to urgently implement the Steve Oronsaye Presidential Committee’s recommendations on the Restructuring and Rationalisation of Federal Government Parastatals, Commissions, and Agencies, describing them as the most practical roadmap for reducing the cost of governance and eliminating overlapping government agencies.
According to him, the committee, established in 2012, recommended reducing the number of statutory federal agencies through mergers, abolitions, and restructuring, with projected savings of approximately N862 billion between 2012 and 2015.