The Lagos Chamber of Commerce and Industry (LCCI) and the Organised Private Sector (OPS) have urged the government to extend urgent cost-cutting measures to all levels of government for it to have a significant impact across board.
Applauding the Federal Government’s recent decision to reduce the entourage size for both domestic and international travel by 60 per cent, Director General, LCCI, Dr. Chinyere Almona, said it is a good step towards curbing excessive travel spending, which aligns with the need for financial prudence in the management of public funds.
Adding that the right tone has been set from the top towards a more prudent government, she said that they, as well as the OPS expect it to cascade to all the ministries, departments and agencies, urging them to adjust their bureaucratic operational procedures to accommodate the new limits.
Almona said it is also expected that this level of fiscal discipline will be implemented by governors, members of the National Assembly and State House of Assemblies immediately.
She said: “The reduction in the entourage size is a commendable step toward cost-cutting, and this exercise is expected to result in significant savings vis-Ã -vis estacodes and duty allowances. The LCCI is pleased that the government is heeding the incessant calls for the reduction of the cost of governance.
