Budget 2021: States Need to Adopt Beneficial Ownership Disclosure, Open Contracting - Abel Akeni
For States to achieve effective fiscal governance in 2021 and achieve implementation of their capital expenditure in their budget plans, amidst the challenges of revenue and funding, the adoption of beneficial ownership disclosure and open contracting is vital.
Mr. Abel Akeni, the Head of Policy and Research, BudgIT disclosed this as a guest on the "Economy and Politics" show anchored by Ottoabasi Abasiekong.
He highlighted the fact that the "Beneficial Ownership Disclosure" will help in addressing the incidence of politically exposed persons getting contracts in the state and not delivering on the agreed terms.
Abel Akeni also stressed that it should be a precondition before contracts are awarded at the State level, while "Open Contracting" according to him this will enable competitive bidding for contracts.