Tinubu promises to make economy strong, back on track

Akpan Umoh, Uyo

President Bola Tinubu has reassured the country of his commitments in making the economy strong and back on track.

Tinubu said this while declaring open, the retreat for Senators of the 10th National Assembly on Fiscal policy and Tax reforms, held at Four Points by Sheraton Hotel, Ikot Ekpene on Thursday.

The President, who was represented by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said that he would do all within his powers to engender better life for all Nigerians.

He said that it was unacceptable to him that 63 per cent of the Nigerian population and over 84 million people formed the multi dimensionally poor.

Tinubu said that he would pay close attention to building women and youths economically, adding that he would not achieve that alone but with the cooperation and support of the national assembly.

“The antidote to this is that, this government is committed to doing all we can to make Nigerian economy grow and achieve rapid, sustained and inclusive growth.

“I cannot do this alone, there has to be team network and of course legislators. The Senators have a key role to play.

“At this time, when we are considering the medium-term economic framework and fiscal sustainability programme.

“It is topical and timely that we should be having this retreat, because after now, we will be considering the budget,” he said.

Tinubu tasked the National Assembly to be committed as they are known for and ensure that the budget is considered, passed and signed before December 31.

Speaking earlier, the Senate president, Sen. Godswill Akpabio, charged colleagues to work together in ensuring that the expectations and hopes of the people who voted them into office are not betrayed even as he explained that will try not to work at cross-purposes with the Executive Arm. 

Akpabio said the major objective of the retreat was to improve the knowledge of senators and build their technical capacity to generate concrete and consistent legislation that would promote peace and sustainable development in tandem with the renewed hope and 8-point agenda of the Tinubu/Shettima Administration.

He added that the retreat was aimed at deepening  participants’ knowledge of public expenditure management, fiscal policy, and tax reforms.

“We must unbundle the Federal Government. We cannot continue to vote money year in, year out for primary school construction, primary education and the Federal government does not have a single primary school in this country. 

“Why then do we vote billions of naira at the centre,” Akpabio said.

Akpabio traced insecurity in the country to the mining of natural resources across different states of the country, without proper regulation and remittances to the coffers of the government.

The senate president called for a long term plan to improve on the internally generated revenue of the country. 

In his remarks, Gov.  Umo Eno of Akwa  Ibom said the retreat shows the commitment of the 10th Senate in making laws for the economic prosperity and well – being of Nigerians. 

Eno, who was represented by the Deputy Governor, Sen. Akon Eyakenyi said already the state government has keyed into the prudent management of scarce resources by undertaking people -oriented and infrastructures projects.

“With a growing population, volatility of the crude oil market and the diminishing relevance of fossil fuels, it has become imperative for governments at all levels to explore alternative sources of public finance and adopt creative means of managing same in order to keep meeting their obligations to the people. 

“Permit me to say that the objectives of this retreat align with the policy of prudent management and transparency by our administration. We are irrevocably committed to transparency and accountability. 

“In line with this, we have made a full disclosure of the details of our budget implementation. We believe our people reserve the right to know all our efforts at developing the State.

“Our commitment to prudent management of scarce resources is already yielding fruits as we are undertaking people -oriented and infrastructural projects across the State,” he said.

In his welcome remarks, Director General, National Institute for Legislative and Democratic Studies (NILDS), Prof. Abubakar Sulaiman, the Organizers of the Retreat  said the focus on Fiscal Policy and Tax Reforms demonstrates the commitment of the National Assembly to align with fiscal and sectoral reforms.

He said the retreat would  strengthen measures to further enhance legislature–executive relationships and address issues of insecurity, which have hampered meaningful development. 

“Painstaking efforts have been made to ensure that all relevant topics that touch on the economy, globally and nationally were included.  “Also the 8point agenda of the President, alignment of the legislative agenda with the programs of study g executive, security as well as electoral reforms are major areas that will also be discussed.” Sulaiman said.