The Federal Government is saving a total of N24.7bn per month as a result of the implementation of the Treasury Single Account and the elimination of ghost workers from the civil service, President Muhammadu Buhari has stated.
Buhari disclosed this at the opening of the e-Nigeria Conference in Abuja on Monday, where he also asked organisers of the conference – the National Information Technology Development Agency – to report any Ministry, Department and Agency that fails to clear its IT projects with it before implementation.
The President also noted that the contribution of the Information and Communications Technology sector to the nation’s Gross Domestic Product had increased from 10 per cent in 2017 to 11.8 per cent by the second quarter of 2018.
“The enforcement of the use of the policy on TSA, the Integrated Payroll and Personnel Information System and the Bank Verification Number and the impact they have made on the administration’s public financial management reforms cannot be overemphasised.
“In addition to the consolidation of accounts and elimination of ghost workers that resulted in a combined monthly savings of about N24.7bn, the TSA facilitated the recovery of huge sums of money including the recent N1.6bn from a single account.
“You may recall that in my address at last year’s event, I raised a number of issues relating to ICT’s role in fostering the digital economy in Nigeria, including the sector’s contribution of about 10 per cent of the nation’s GDP.
“I am pleased to note that this has been taken seriously and stakeholders’ efforts resulted in ICT emerging as one of the key performers of the second quarter of 2018 by recording 11.81 per cent growth.”