Minister of Finance Wale Edun urged unity in fiscal management at a retreat aimed at enhancing collaboration among economic stakeholders, focusing on transparency and increased private sector involvement to support Nigeria’s economic growth and stability.
Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has emphasized the importance of unity in fiscal management to transform Nigeria’s economic future. He expressed this sentiment during a High-Level Retreat focusing on collaboration for sustainable financial management and national development, organized by the Federal Ministry of Finance.
The two-day retreat, held at the Congress Hall in Transcorp Hilton Abuja, gathered members of the National Assembly, Government Agency Heads, and senior officials from the Ministry of Finance to discuss strategies for enhancing fiscal governance. The event aimed to foster cooperation among key stakeholders to effectively tackle Nigeria’s fiscal challenges.
During his virtual opening remarks, Mr. Edun reiterated the Government’s dedication to asset optimization and increased private-sector investments. He underscored that the meeting symbolizes the government’s commitment to improving financial governance and enhancing collaboration.
Moreover, Edun noted that through increased cooperation, there has been progress in refining budget processes, boosting transparency, and optimizing resource allocation for sustained economic stability. He highlighted significant economic progress, including a GDP growth of 3.40% for 2024 and advancements in oil production and revenue collection.
The Minister attributed these successes to several fiscal reforms, such as the removal of petrol subsidies and enhancements in tax policies. Furthermore, he stressed the necessity of cultivating stronger relationships with the private sector, which is essential for ensuring financial sustainability and foster economic growth through increased tax revenues.
A technical discussion followed where Edun presented on Nigeria’s Renewed Hope economic agenda, focusing on public financial management improvements, prioritizing capital expenditure, and regulatory reforms to attract investment. Attendees included dignitaries such as Senator Abubakar Bagudu and Dr. Doris Uzoka-Anite, among others, who also shared remarks on the importance of the retreat.
With this initiative, Nigeria is positioned to enter a new era of economic stability and growth. Under Mr. Edun’s leadership, there is optimism about the country’s economic prospects, promising a brighter future filled with opportunities and prosperity.
In conclusion, the High-Level Retreat organized by the Federal Ministry of Finance marks a significant step towards uniting stakeholders in fiscal management in Nigeria. Under the leadership of Minister Edun, the focus on collaboration with the private sector is imperative for achieving economic growth. The emphasis on fiscal reforms and transparency is likely to lead the nation towards a prosperous future characterized by stability and sustainable development.
Original Source: www.zawya.com
