By Nana Musa
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reiterated the Federal Government’s commitment towards ensuring a strong, consistent fiscal policy in Nigeria.
Edun said this during the high-level interactive meeting with members of the National Assembly, Heads of Agencies and Directors of the Ministry, in Abuja on Thursday.
The theme of the event is: “Strengthening collaboration for sustainable financial management and national development.”
”Our primary goal under President Bola Tinubu is to ensure that our fiscal policy remains strong, consistent and aligns with the monetary policy.
”Through our collective efforts, especially between the legislature and the executive, we are refining our budget process and progress have been made,” he said.
Edun expressed plans of the government to enhance public transparency, reduce waste, foster accountability in public financial management, and optimising our resources.
”We are at that stage where there is less focus on borrowing, particularly from the commercial markets which is quite high; more focus on optimising assets and crowding private sector investment, whether domestic or foreign.
”I am confident that through our collective resolve using macroeconomic tools, we can charge a course that will lift our people out of poverty.
“This will be done in substantial numbers, the majority of the people, with this process based on the trajectory which we are currently following.
According to Edun, the event demonstrates the commitment of the ministry to partner with critical stakeholders at various levels in driving sustainable economic growth and sound financial management for Nigeria.
The Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, said that the country needed more innovation in sustainable financial management.
He said there was need for a coordinating mechanism to ensure that we can find this money.
“If we can have the legislative backing to find it or even to utilise it, in order that we generate and achieve the higher level of inclusive growth if possible, it will be great,” he said.
Bagudu also commended the national assembly members for their constant support to the growth of the sector.
The Chairman Senate Committee on Finance, Sen. Mohammed Musa, said that the legislative played a crucial role in ensuring that public funds were utilised judiciously and in line with national priorities.
”Our collective responsibility is to strengthen the mechanisms that enhance accountability while fostering an enabling environment for economic growth.
”The ongoing tax reforms represent a critical step towards achieving a more sustainable, equitable tax system, a well-structured tax legislation, but also create a fair and efficient system that supports businesses, encourages investment and promotes national development.
”It is imperative that we work together across legislative, executive and institutional frameworks to ensure that these reforms translate into tangible benefits for our citizens. Collaboration is key,” Musa said.
The senator said that Ministries, Departments and Agencies (MDAs) must work in synergy with the legislature to ensure that policies were not only well crafted, but also effectively implemented.
According to Musa, strong institutional frameworks coupled with strategic policy alignments and legislative oversight will drive sustainable growth and physical stability.
”As we engage in this interactive session, let us affirm our commitment to strengthening accountability, improving efficiency and ensuring that every decision we take contributes meaningfully to national development.
”Let us leverage our collective expertise, experiences and insights to shape policies that will stand the test of time and secure a brighter future for our nation.
”I look forward to our discussions and the outcomes that will emerge from this session. Together we can build a resilient and prosperous economy that serves the interests of all,” he said.
A former Senior Special Assistant to the president National Assembly matters, Sen. Ita Enang, reiterated the importance for continued collaboration between the legislature and the executive.
”Chairmen of the Senate and house of representatives committees on finance as lead, should arrange a meeting between the leadership of each chamber and the minister of finance to always work together, this will help them achieve their goal,” he said.
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