A public hearing on a bill for a law to regulate the financial management of Delta State Government has been held by the Delta State House of Assembly with relevant stakeholders endorsing the need for prudent management of the state resources to engender greater development in the state.
The Chairman, House of Assembly Committee on Public Accounts, Hon. Anthony Emeka Elekeokwuri, said the bill has since passed the second reading on the floor of the house, stressing that the public hearing is to get the inputs of key stakeholders in line with the law making process of the state legislature.
Elekeokwuri stated “We are gathered to participate in a public hearing of this executive bill which intends to address or fill a gap in other related exiting laws in the state. With the existence of the Fiscal Responsibility Law and the Delta State Public Procurement Law, it has become expedient that the Delta State Public Finance Management Law come on board”.
“Public Financial Management (PFM) considers the generation of resources, allocation of the resources and management of government expenditure geared towards efficient delivery of public good and services. Amongst the elements of the PFM, Revenue Management, Debt Management, Budgeting, Procurement, Accounting and Reporting and Accountability and Oversight “, the lawmaker explained.
Elekeokuri maintained that considering the overwhelming importance of the bill towards probity, transparency and accountability, it was expedient for make valid contributions through memoranda and oral presentations towards making the proposed law elegant.
The Auditor-General (State), Mr Goddey Amudo, Auditor-General (Local Government), Mr Abel Esievo and Accountant-General of the State, Mr Cyril Agbele, commended the proposed law was a welcome development saying that they were in agreement with all the proposed sessions of the bill as they are all aimed at checking financial improprieties in the state.
The SEEFOR Project Director in the State, Mr Benson Ojoko and some Chairmen of Local Government Councils in the State, also commended the initiative to domesticate the Federal Act on the Public Financial Management as already applied in some states of the federation.
The public hearing held at the complex of the Delta State House of Assembly, was organized by the Joint Committee on Public Accounts and Business, Rules, Judicial and Legal Matters.