The Nigerian Senate has strongly criticized the country’s single payment system, describing it as a major obstacle to economic growth.
According to Afripost, During Thursday’s plenary session, Senate President Godswill Akpabio expressed concerns that the system was slowing down development and called for its immediate review. He stressed the need for a more efficient framework that would streamline financial transactions and boost economic progress.
Lawmakers also voiced their disapproval of the centralized payment structure, which requires over 700 Ministries, Departments, and Agencies (MDAs) to process transactions through a single office.
They argued that this approach has led to inefficiencies, delayed project implementation, and diminishing public trust, particularly in communities awaiting critical infrastructure projects. The Senate urged relevant authorities to address the issue promptly to prevent further setbacks.
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