President Bola Tinubu said his administration made the necessary choices in the last 17 months to stop the country’s decline and put it on a path to higher, sustainable, and inclusive growth.
The President said this in his address at the 54th annual accountants conference with the theme: ‘Governance Reimagined: Mapping the Future’, on Tuesday in Abuja.
The President’s address was delivered by Alhaji Abubakar Bagudu, Minister of Budget and Economic Planning.
Tinubu said it was encouraging that the Gross Domestic Product growth for the first and second quarters of 2024 was positive.
He added that inflation turned downwards, and the foreign exchange market was stabilising, with encouraging investment signals.
‘We are continuing with innovative reform measures: digitisation of revenue collection and government services, consumer credit system to boost manufacturing and enable access to goods and services,’ said Tinubu.
He said his government had embarked on mortgage system reform to provide wider opportuni
ties for home ownership, Compressed Natural Gas penetration to offer cheaper and alternative energy sources, and agriculture development fund to de-risk agricultural investments further.
‘Our reforms include removing punitive subsidies to the economy. Revenue bleeding has reduced, and the three tiers of government are receiving higher allocations, which enable more support to vulnerable populations.
‘Social investment spending is increasing, the minimum wage has increased, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.
‘Our collective vision for Nigeria’s future is anchored on strengthening our institutions and nurturing a pervasive culture of accountability,’ he said.
He added that his government was committed to leveraging cutting-edge technologies to boost transparency and efficiency and cultivate strategic partnerships to pave the way for sustainable development.
The President called on the accountants to participate ac
tively in the dialogues unfolding over the next few days, share their unique insights and forge new connections.
‘Together, let us develop actionable plans to lead Nigeria towards a future where governance is synonymous with integrity, transparency, and accountability,’ he said.
He challenged the accountants to be stewards of governance and accountability, harness their collective expertise to foster a more
transparent, efficient and equitable society.
‘Your role as accountants in cultivating transparency, upholding integrity, and managing our nation’s resources adeptly is indispensable.
‘Your expertise does not merely shape our economic landscape-it fortifies the foundation of trust upon which our societal progress is built,’ he said.
He said the conference was convened at a time that the governance landscape was dramatically evolving, presenting challenges and opportunities that demanded innovative solutions and proactive strategies.
‘We must foster robust collaboration and networking among policymak
ers, regulators, and professionals to harness these opportunities effectively,’ said Tinubu.
Source: News Agency of Nigeria