The Lagos Chamber of Commerce and Industry (LCCI) has issued commendations for President Bola Tinubu’s decision to reduce the entourage size for both domestic and international travel by 60%. The Chamber describes this move as a crucial step to curb excessive travel spending, aligning with the necessity for financial prudence in the management of public funds.
In a statement signed by the Director-General of the Lagos Chamber of Commerce & Industry, Dr. Chinyere Almona, the LCCI urged the President to extend these measures to encompass all federal ministries, departments, and agencies. Additionally, the call was made to include the offices of the President, Vice President, and the wives of both officials in this cost-cutting initiative.
“The reduction in the entourage size is deemed commendable by the LCCI, anticipating significant savings in estacodes and duty allowances. The business community welcomes the government’s responsiveness to the calls for a reduction in the overall cost of governance. The President’s decision to lead by example through the implementation of these measures is seen as a precedent-setting move, fostering a culture of fiscal responsibility and accountability among government officials at various levels.
“The LCCI emphasizes the need for ministries, departments, and agencies to adjust their operational procedures to accommodate the new limits, promoting fiscal discipline. The Chamber also advocates for the implementation of similar fiscal prudence measures by State Governors, members of the National Assembly, and State House of Assemblies.”
President Tinubu’s emphasis on aligning the prudence of government officials with the financial realities faced by Nigerian citizens is hailed as a commitment to prioritizing the nation’s well-being during challenging economic times.
“While recognizing potential resistance from officials accustomed to larger entourages, the LCCI calls for clarification on the sanctions for non-compliance to ensure effective implementation. The Chamber commends the President for his dedication to financial prudence and encourages a transparent and accountable system for implementing these directives. Aligning government spending with the economic realities faced by Nigerian citizens is viewed as a positive step for sustainable economic management.”
