Finance Minister Wale Edun urged stakeholders to unite in managing fiscal policies for Nigeria’s economic advancement at a recent retreat. The event aimed to foster collaboration among government officials and private sector leaders, discussing strategies for fiscal governance and economic sustainability. Edun noted recent economic growth factors and the importance of private sector partnerships for long-term stability.
In a recent High-Level Retreat focused on fiscal management, Nigeria’s Finance Minister, Mr. Wale Edun, stressed the importance of unity among stakeholders to reform the country’s economic future. Organized by the Federal Ministry of Finance, the event aimed to enhance collaboration among key economic players to tackle the nation’s fiscal challenges effectively.
The two-day retreat, held at Transcorp Hilton Abuja, brought together National Assembly members, government agency leaders, and senior finance officials. They gathered to discuss strategies for improving fiscal governance and promoting economic sustainability within Nigeria.
During his virtual opening remarks, Edun emphasized the government’s dedication to optimizing assets and increasing private sector investment. He noted, “This event demonstrates our commitment to strengthening cooperation in financial governance.” He highlighted ongoing efforts to refine budgeting, boost transparency, and ensure better resource allocation for economic stability.
Citing recent achievements, Edun mentioned a projected GDP growth of 3.40% for 2024, along with notable improvements in oil production and revenue collection. He attributed these successes to critical fiscal reforms like the removal of fuel subsidies, enhancements in tax policies, and the automation of revenue processes.
The discussions also underscored the need for stronger partnerships with the private sector, which Edun identified as vital for financial sustainability. A robust private sector is expected to boost tax revenue, lessen reliance on government borrowing, and facilitate sustainable economic growth.
A technical session on post-reform growth featured Edun’s presentation on Nigeria’s Renewed Hope economic agenda, detailing plans to improve public financial management, prioritize capital expenditures, and implement regulatory reforms to attract both domestic and foreign investments.
Dignitaries present included the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, Minister of State for Finance, Dr. Doris Uzoka-Anite, and Central Bank Deputy Governor, Mohammed Abdullahi, among others. Their participation illustrated a collective commitment to fostering economic growth and stability in Nigeria.
This call for unity in fiscal management positions Nigeria for a transformative economic era. Under Edun’s leadership, there is optimism for a future defined by growth, prosperity, and opportunity for all Nigerians.
The High-Level Retreat highlighted the necessity of unity in fiscal management among Nigeria’s economic stakeholders. By emphasizing collaboration, reinforcing ties with the private sector, and implementing strategic fiscal reforms, Nigeria aims to achieve economic growth and stability. With the government’s commitment to enhancing financial governance, there is an optimistic outlook for the nation’s economic future.
Original Source: www.zawya.com
