The Lagos Chamber of Commerce and Industry has commended President Bola Tinubu’s decision to reduce the entourage size of top government officials for both domestic and international travels by 60 per cent.
LCCI said the gesture would aid cost-cut and result in significant savings vis-à-vis, estacodes and duty allowances.
The Chamber disclosed this in a statement signed by its Director General, Dr Chinyere Almona, on Wednesday.
Almona specified: “This move is seen as a decisive step to curb excessive travel spending and align with the need for financial prudence in the management of public funds. The austerity measures extend to all Federal Ministries, Departments and Agencies, as well as the offices of the President, Vice President, and their wives.
“The reduction in the entourage size is a commendable step toward cost-cutting, and this exercise is expected to result in significant savings vis-à-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. More importantly, the President’s decision to lead by example via the implementation of these measures will set a precedent for government officials at various levels to follow suit, fostering a culture of fiscal responsibility and accountability.
“The President has set the right tone at the top of a more prudent government and organised private sector expects this to cascade to all levels for it to have a significant impact across board. Therefore, ministries, departments, and agencies need to adjust their bureaucratic operational procedures to accommodate the new limits. It is also expected that this level of fiscal discipline will be implemented by State Governors, members of the National Assembly, and State House of Assemblies.
“The President’s emphasis on aligning the prudence of government officials with that of Nigerian citizens reflects a commitment to prioritise the well-being of the nation and its people. This is crucial at a time when economic challenges require stringent fiscal measures”.
Almona said LCCI is of the view that there might be resistance from some government officials, accustomed to larger entourages, and enforcing compliance could face challenges, noting that there was need for clarification on the sanctions for non-compliance, so as to ensure effective implementation.
The LCCI commended the President for his commitment to financial prudence, encouraged a transparent and accountable system of implementing the directives, with continuous engagement to address concerns that may arise during the adjustment period.
It restated that the decision to align government spending with the realities faced by Nigerian citizens, is a step in the right direction for sustainable economic management.
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President Tinubu on Tuesday in a statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale announced the move.
According to Ngelale, henceforth for foreign trips, the President, Vice-President and the First Lady will be accompanied by 20, five and five officials respectively, while for the local trips, the President will be accompanied by 25 officials and 15 and 10 officials for Vice-President and the First Lady respectively.
The measure, according to Ngelale, is part of “massive cost-cutting measures by the Tinubu-led administration.
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