Our reforms aim to boost revenue allocation, eliminate leakages — Tinubu
By Matthew Denis, Abuja
President Ahmed Tinubu has disclosed that the reforms of the government includes higher revenue allocation to the three tiers of government, blocking leakages, among others.
He stated this during his opening remark at the 54th Annual Accountants Conference held in Abuja on Tuesday.
The President who was represented by the Minister of National Budget and Economic Planning, Abubakar Atiku Bagudu said, ”Today, we unite under the visionary theme: Governance Reimagined: Mapping the Future, which captures our aspirations and marks a significant milestone in our journey towards refining governance and fortifying accountability across our great nation.”
He posed a critical question: “How can we, as stewards of governance and accountability, harness our collective expertise to foster a more transparent, efficient, and equitable society?”
Highlighting the vital role of accountants, he stated, “Your role in cultivating transparency, upholding integrity, and managing our nation’s resources adeptly is indispensable. Your expertise does not merely shape our economic landscape—it fortifies the foundation of trust upon which our societal progress is built.”
Tinubu acknowledged the evolving governance landscape, noting the challenges and opportunities it presents. “The advent of emerging technologies opens new avenues for enhancing accountability and transparency. We must foster robust collaboration and networking among policymakers, regulators, and professionals to harness these opportunities effectively.”
He pointed out that the government’s actions over the past 17 months aim to halt decline and foster sustainable growth.
“It is encouraging that GDP growth for the first and second quarters of 2024 was positive while inflation turned downwards. The foreign exchange market is stabilising, and we see encouraging investment signals.”
He said, “We are continuing with innovative reform measures: digitisation of revenue collection and government services, consumer credit system to boost manufacturing and enable access to goods and services, mortgage system reform to provide wider opportunities for home ownership, CNG penetration to offer cheaper and alternative energy sources, and agriculture development fund to de-risk agricultural investments further.
“Our reforms include removing punitive subsidies to the economy. Revenue bleeding has reduced, and the three tiers of Government are receiving higher allocations, which enable more support to vulnerable populations. Social investment spending is increasing, the minimum wage has increased, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.
“Our collective vision for Nigeria’s future is anchored on strengthening our institutions and nurturing a pervasive culture of accountability. We are committed to leveraging cutting-edge technologies to boost transparency and efficiency and cultivate strategic partnerships that pave the way for sustainable development.
“As we delve into the complexities of governance, I call upon each of you to participate actively in the dialogues unfolding over the next few days. Share your unique insights and forge new connections. Together, let us develop actionable plans to lead Nigeria towards a future where governance is synonymous with integrity, transparency, and accountability,” the President said.
