The Federal Government says it will hold Ministries, Departments and Agencies, MDAs, to measurable performance targets to cut bureaucratic delays and overlapping regulations.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced this on Thursday at a strategic engagement with heads of agencies at the Ministry of Finance headquarters in Abuja.

Oyedele said the next phase of economic reforms must go beyond stabilization to fixing everyday frustrations businesses face in dealing with government.

He said agencies must make it easier for businesses to operate, invest and expand, and should remain within their statutory mandates.

He said government will adopt a “One Government” approach where MDAs coordinate their activities, with one lead agency, one process and one fee where mandates overlap.

He urged agencies to consult stakeholders before introducing new regulations, assess economic implications and give reasonable notice before major policy changes.

On public finance, he directed agencies to remit all revenues promptly and in full, transfer operating surpluses to the Consolidated Revenue Fund and submit audited accounts as required by law.

He said agency performance will be judged by results, including speed of service delivery and cost of regulatory processes.

He said the Ministry of Finance will be held to the same expectations.

Oyedele said the ministry will review submissions from agencies and provide feedback within four to six weeks, after which a draft framework will be circulated for further consultation.