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Government & Politics

Ministers, Governors, Other Stakeholders Meet Over Economic Recession In Ogun State

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The federal ministry of finance in a statement said the meeting will hold under the auspices of the National Council on Finance and Economic Development (NACOFED) 2016 conference. The conference is being hosted by the Minister of Finance, Mrs. Kemi Adeosun, with the theme: Enhancing Revenue Generation and Obtaining Best Value for Money in Expenditure. The federal, state government and other stakeholders will meet in Abeokuta to find ways of improving their revenue streams.

Finance Minister Governors, ministers from the federal, state government and other stakeholders will on Monday, September 26, meet in Abeokuta, Ogun state, to find ways of improving their revenue streams this trying times. The federal ministry of finance in a statement signed by Festus Akanbi, special assistant to the minister of finance said the meeting will hold under the auspices of the National Council on Finance and Economic Development (NACOFED) 2016 conference.

The statement also said the meeting will avail federal and state governments opportunity to “examine options available to government to improve its revenue streams especially in a period of low earnings from crude oil.” The conference, he said “is being hosted by the Minister of Finance, Mrs. Kemi Adeosun, with the themed: Enhancing Revenue Generation and Obtaining Best Value for Money in Expenditure.” According to the federal ministry of finance, the event will attract a diverse group of participants including ministers, governors, commissioners of finance and budget from the 36 states of the federation, as well as captains of industry from the private sector.

NACOFED was created as a forum for members to discuss current socio-economic issues, and proffer a way forward for the Nigerian economy on fiscal and monetary policies. The forum serves as an avenue for sharing ideas that will lead to the streamlining of activities in the finance ministries at the federal and state levels as well as other financial institutions of relevance, including government parastatals. The conference will be declared open by Ogun State Governor, Senator Ibikunle Amosun.

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According to the Minister of Finance, Mrs. Kemi Adeosun, the policy thrust of the current administration informs the theme for this year’s conference. She said the Federal Ministry of Finance has continued to discharge its numerous functions through well-articulated initiatives and policies to improve revenue generation, blocking leakages, tackling wastage and obtaining best value for money in government expenditure.

Some of the topics to be treated at the event include: “The non-oil sector as a sustainable alternative in enhancing revenue generation” to be delivered by the Minister for Mines and Steel Development, Dr. Kayode Fayemi. Others include: “Harnessing Customs and Excise Duties for Improved Revenue Generation”, to be delivered by the Comptroller General of Customs, Col. Hammed Ali (rtd); and “Tax as a Source of Improved Revenue to the Federation Account”, to be led by the Chairman of the Federal Inland Revenue Service, Babatunde Fowler.

In a related development, the African Development Bank (AfDB) has announced that Dr. Akinwunmi Adeshina, its president and former minister of agriculture under ex-president Goodluck Jonathan, will visit Nigeria today, Monday, September 26 to meet with President Muhammadu Buhari. Adesina is expected to hold a series of meetings with the leaders in Nigeria, including President Muhammadu Buhari, minister of finance Kemi Adeosun, and Central Bank Governor Godwin Emefiele.


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