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Wednesday, December 8, 2021

Poor Budgeting, Bane Of Public Project Funding

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MANAGING Consultant of Lighthouse Consulting Limited, Mrs. Rebecca Chijioke, has identified well-articulated funding plan as key to building sustainable business organisations.

Chijioke, who spoke at a five-day workshop on Public Financial Management and Expenditure Control, organised for staff of theFederal

Ministry of Power in Lagos, said the workshop was meant to empower participants in tackling financial problems facing the organisation. She emphasised the need to make constructive and cost effective financial decisions that would impact positively on organisations.

The programme was arranged in six modules — Sources and Utilisation of Funds, Financial Control in Public Sector, Financial Authorities and Responsibilities in Public Sector, Budgeting/Budgetary Control, Due Process and Designing Effective Internal Control System in Public Sector.

Communiqué issued at the end of the training programme suggested that poor budget management could be minimised by putting in place proper and timely budget plan as well as effective implementation system.

It said strict adherence to the Public Procurement Act Provisions would help in sustaining sound public sector contract management.

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