17/06/2024
THE 7 MAGIC ACRONYMS NIGERIA NEEDS AS A PANACEA TO MEETING NIGERIA LABOUR CONGRESS LIVING WAGE DEMANDS (I.P.R.I.C.E.D); WHERE THERE IS A POLITICAL WILL, THERE IS A WAY.
IF GOVERNMENT CAN DO THESE:
1. INCREASE REVENUE GENERATION: Diversifying the economy and reducing dependency on oil revenues can help boost income. One of the ways is by expanding tax base, improving tax compliance, promoting, more especially, closing loopholes in the tax system, can generate additional funds for government programs and services. Most importantly, promoting the Agriculture, Manufacturing and other services sectors.
2. PRIORITIZING SPENDING: Only spendings on essential services, which benefit the populace such healthcare, education, infrastructure and social services should be prioritized
3. REFORM THE PUBLIC SECTOR: Implementing reforms to enhance the performance and accountability of public sector workers is crucial for cost reduction, improving services delivery. Employment based on merit, regular performance evaluations and training programs ensures competence of the Public Servants. Nevertheless, these public servants need motivation for effective service delivery to the public.by rewarding excellence and addressing underperformance.
4. IMPROVE EFFICIENCY: Adopting technology and digital solutions can significantly boost the efficiency of operations in government. Implementing e-government initiatives like, online service delivery platforms and digital payment systems, can streamline processes and minimize opportunities for corruption
5. CUT THE SIZE OF GOVERNMENT: Functions and Structures of Ministries, Departments and Agencies should be reviewed for redundancies and inefficiencies. This would enable merging overlapping functions, eliminating unnecessary positions redefining operations; by so doing, administrative cost would be reduced and overall efficiency improved.
6. ENGAGE WITH STAKEHOLDERS: Consultation with stakeholders, including civil society organizations, the private sector and the citizens, is necessary for building consensus and support for cost-cutting steps and reforms. Transparency and accountability in decision-making processes can help foster trust and collaboration among stakeholders, leading to more effective and sustainable solutions for reducing the cost of government and improving public sector performance.
7. DECREASE WASTEFUL SPENDING: A thorough audit of government spending can help identify areas where wasteful spending occurs. This includes scrutinizing expenses related to travel, consultancy services, procurement and other areas where costs can be trimmed without compromising service delivery. Implementing stricter controls and oversight mechanisms can help curb corruption and misuse of public funds
A holistic consideration of these seven (7) magical acronyms, will surely reduce wasteful spending, curb corruption, instill financial discipline on both the sides of the Civil Servants and on government for effective implementation of the NLC demanded living wage without with ease
