EMPOWERING NIGERIA’S FUTURE: ENGAGING IN THE NIGERIAN SENATE’S TRANSFORMATIVE TWO-DAY RETREAT ON FISCAL POLICY AND TAX REFORM

On Thursday, October 19, 2023, at Ikot Ekpene, Akwa Ibom state, I joined the National Assembly Leadership and other Distinguished members of the Nigerian Senate to attend a two-day retreat on Fiscal Policy and Tax Reform.

Speaking at Friday's edition of the event, I stressed the need for the Senate to diligently monitor the distribution of the palliatives released by President Bola Ahmed Tinubu's administration to all the thirty-six state governors to alleviate adverse economic effects from the removal of fuel subsidy in order to ensure that the palliatives are not diverted to wrong hands.
I also discussed the importance of implementing effective fiscal policies and tax reforms to stimulate economic growth and development in Nigeria.

Speaking further at the event which was also attended by Speaker House of Representatives, Rt Hon Abbas Tajudeen; Chief of Staff to the Nigerian President, Rt Hon Femi Gbajabiamila; Chief of Staff to Former President Muhammadu Buhari, Prof Ibrahim Gambari; Minister of Finance and Coordinating Minister of the Economy, Wale Ed; Former Senate President, Bukola Saraki; Former Senate President, Ken Nnamani; Former Senate President, Adolphus Wabara; Former INEC Chairman, Prof Atahiru Jega; Chairman Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele; Minister of Budget and Economic Planning, Senator Abubakar Atiku Bugudu; FIRS Executive Chairman, Mr Zacch Adedeji; Executive Secretary Library Complex, National Assembly Abuja, Rt Hon Henry Nwawuba and many other dignitaries, I highlighted the importance of collaboration between the National Assembly and the executive branch in implementing fiscal policies and tax reforms, and maintained that it is crucial for both arms of government to work together to create an enabling environment for businesses to thrive and attract foreign investments.

I also emphasized the need to prioritize the diversification of the Nigerian economy to reduce our over-reliance on oil revenue and disclosed that the diversification of the economy can be achieved through the promotion of non-oil sectors such as agriculture, manufacturing, and technology.
I further informed the gathering that by diversifying our economy, we can create more job opportunities, reduce poverty, and enhance economic stability.

I went further to discuss the strategies to improve the country's fiscal policy framework and enhance revenue generation through tax reforms and emphasized the need for transparency and accountability in the distribution of funds provided in the recently announced conditional cash transfer to ensure that they reach the intended beneficiaries and effectively mitigate the impact of the fuel subsidy removal.

The retreat on Fiscal Policy and Tax Reform was a significant step towards addressing the economic challenges facing Nigeria and I am confident that with the collective efforts of the National Assembly, the executive branch, and other stakeholders, we can achieve sustainable economic growth and development for our country.

Senator Dr. Ifeanyi Ubah, CON
Anambra South Senatorial District
October 21, 2023.


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Jokers...

Look at all the big names up there but still the country is descending daily into abyss

Ojelu

Waiting for him to jump to guber race