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By NBF News
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The Federal Government has adopted the Performance Contract approach to evaluate  the performance of  Ministries, Departments and Agencies (MDAs).

Professor  Sylvester Monye, Special Adviser to the President on Performance, Monitoring and Evaluation, announced this in Abuja at a ' Roundtable on Economic Transformation Process.'

'Performance Contract is basically an agreement between government and a public agency which establishes general goals for the agency, sets targets for measuring performance and provides incentives for achieving the targets.

' It is an instrument for controlling the outcome of the work of public agencies, rather than the process,' he said. He said  the country's  performance contract  would  ' primarily outline the required performance of concerned MDAs  in two to three policy outcomes, the specific  measurements of success as well as  criteria  to evaluate success.' The initiative, he added, would promote transparency as the agencies would be accountable for their activities.

Finance Minister, Okonjo Iweala
Prof. Eric Eboh, Executive Director, African Institute for Applied Economics, said government must put in place measures to deliver its promises to Nigerians Eboh, whose organisation sponsored the roundtable, said the aim of the event was to bring experts together to suggest ways to achieve the objectives of the Transformation Agenda.

'The round table's proceedings and recommendations will be synthesised and developed into a handy policy memorandum on the challenges and opportunities in Nigeria's renewed   economic transformation,' he said.

The Chief Economic Adviser to the President, Dr Okedigbe Nwanze, and the Director General, Budget Office, Dr Bright Okogu, were present at the forum. Also in attendance was the Director General of the Bureau for Public Enterprises, Ms Bola Onagoruwa and representatives of the IMF, World Bank and the African Development