Finance Minister Advocates Unity for Stronger Fiscal Policy Management in Nigeria

The Minister of Finance, Mr. Wale Edun, urged unity in fiscal management to improve Nigeria’s economy during a High-Level Retreat. The event aimed to foster collaboration among stakeholders to tackle fiscal challenges. Edun noted a projected 3.40% GDP growth and emphasized private sector involvement for financial sustainability, outlining government plans for economic reform and strategies at the retreat.

The Minister of Finance, Mr. Wale Edun, emphasized the importance of collaboration in managing fiscal policies to improve Nigeria’s economic outlook. His comments were made during a High-Level Retreat organized by the Federal Ministry of Finance, aimed at fostering cooperation among key stakeholders to address fiscal challenges in the country. This two-day event, held at Transcorp Hilton Abuja, featured discussions among members of the National Assembly, government agency heads, and finance officials on strategies for effective fiscal governance.

During his virtual address, Minister Edun reaffirmed the Government’s commitment to optimizing assets and attracting increased private-sector investment. He demonstrated this commitment by stating, “This event demonstrates our commitment to strengthening cooperation in financial governance.” He highlighted the government’s efforts to refine budgetary processes, enhance transparency, and allocate resources efficiently for long-term economic stability.

Mr. Edun revealed positive developments in the economy, including a projected 3.40% GDP growth in 2024 and improvements in oil production and revenue collection, attributing these successes to important fiscal reforms such as subsidy removal and digital revenue automation. The minister described the strengthening of the private sector as vital for financial sustainability, asserting that a thriving private sector would help to enhance tax revenue and support sustainable growth.

The retreat also featured technical discussions on economic growth post-reform, during which Edun presented the government’s economic agenda, focusing on improving public financial management and attracting investment through regulatory reforms. Key dignitaries who participated included Senator Abubakar Bagudu and Dr. Doris Uzoka-Anite, among others. With this collaborative effort, Nigeria aims to enter a new phase of economic growth under Edun’s leadership, promising a more prosperous future for its citizens.

In conclusion, the Finance Minister Mr. Wale Edun has called for unity among stakeholders to enhance fiscal management and drive Nigeria’s economic development. The collaborative efforts highlighted at the retreat aim to bolster transparency, attract private investment, and improve financial sustainability. With significant GDP growth projections and ongoing fiscal reforms, Nigeria is on a promising path towards economic revitalization and stability.

Original Source: www.zawya.com