FGN: expansion of TSA will boost e-commerce

Expansion of TSA coverage:The decision by the Federal government of Nigeria to fully operationalise the Treasury Single Account (TSA) system — a public accounting system that enables the government to manage its finances (revenues and payments) using a single/unified account, or series of linked accounts domiciled at the Central Bank of Nigeria — has resulted in the consolidation of more than 20,000 bank accounts previously spread across DMBs in the country, and in savings of an average of N4.7 billion monthly in banking charges associated with indiscriminate government borrowing from the DMBs. As at February 10, 2017, a total sum of N5.244 trillion had flowed into the TSA.

Insistence on conditionality of fiscal support to states
The Fiscal Sustainability Plan (FSP) is a reform programme that specifies conditions under which states can access the Federal Government’s N510 billion
Budget Support Facility (BSF).

Creation of Efficiency Unit (EU) to spearhead the efficient use of government resources, and ensure reduction in Recurrent Expenditure:
The Efficiency Unit’s efforts have resulted in more than N15 billion in savings on travel, sitting allowances and souvenirs. There is also potential savings of N7 billion on other expenditure lines where the unit seeks to control spending through circulars.