President Muhammadu Buhari has approved the implementation of the Steve Oransaye Committee report on the rationalisation of government agencies.

This was made public by Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning, Mrs Zainab on a Channels TV programme, Politics Today.

According to the Presidential Committee on the Rationalisation and Restructuring of Federal Government Parastatals, Commissions and Agencies, also known as the Oronsaye Committee, was set up by the Goodluck Jonathan administration in 2011.

While describing the cost of governance in Nigeria as one of the highest in the world, the committee had recommended a reduction in the number of statutory agencies from 263 to 161.

Zainab said the Federal Government had took up the issue that addresses the high costs of governance by implementing the report.

She said, the President has approved that this administration should implement the recommendations of the Oransaye report.

“So, the Oransaye report is a report that has reviewed the whole of the size of government. It has made very significant recommendation in reducing the number of agencies, merging some agencies together.”