GTB 737 banner Yudala banner

Adeosun takes economic reform agenda to World Bank spring meetings

By News Express on 19/04/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 678

•Finance Minister Kemi Adeosun.
•Finance Minister Kemi Adeosun.

Finance Minister, Mrs. Kemi Adeosun, is attending the World Bank and IMF Spring Meetings in Washington DC where she is participating in a range of events focused on different aspects of the Nigeria’s economic reform agenda.

At her opening event on Monday, she gave an address to the Global Parliamentary Conference, alongside parliamentarians from around the world, focused on the country’s economic reform agenda and the need for strong executive and legislative collaboration.

Addressing senior representatives from the World Bank and IMF, as well as over 150 parliamentarians, the Minister, according to a statement issued by Festus Akanbi, her Media aide, called for greater focus on collaboration in illicit financial flows from Africa as a core pillar of the government’s strategy to significantly enhance domestic government revenue and deliver sustainable economic growth.

“The government is focused on resetting the Nigerian economy by addressing our traditional over-reliance on oil revenues and establishing the basis for sustainable non-oil revenue growth. To improve non-oil revenues, we have to address illicit capital flows. When stolen money is transferred from Nigeria, or other African countries, there are too few questions asked by those countries that receive the funds, but when we identify those funds as stolen and seek to recover them, there are too many questions being asked.

“There is money sitting in foreign bank accounts that we have spent over a decade trying to recover. That is money that could deliver significant value for Nigeria as we seek to increase spending on critical infrastructure and establish a basis for long term sustainable growth. I hope that the Automatic Exchange of Information scheme coming into force next year will be a step towards achieving greater transparency, but we need more collaboration amongst parliamentarians in Africa, and across the World to ensure that this situation improves and that recipient countries are held to account.”

Commenting on the domestic agenda to ensure significant reductions in ‘leakages’ of public funds, and improved efficiency in public expenditure, the Minister said, “We are going after those who have stolen our money. We have put in place a very successful whistle blower programme that is delivering results, and allows those who report illicit activity to receive up to 5% of any funds that we recover. We are also significantly improving our financial management controls to ensure that it is considerably more difficult for public funds to be diverted. We have to do more though and that means collaboration with the legislature. We need tighter tax and financial reporting legislation and to ratify bilateral agreements so that our enforcement agencies are empowered to deliver the results that we need.”

Among several other meetings, the Minister will also meet with the World Bank to discuss lending to strategic sectors of the economy as part of the administration’s focus on addressing Nigeria’s infrastructure deficit and accelerating implementation of critical projects.

“To create the basis for long term growth, we need to invest urgently in our infrastructure. Achieving energy sufficiency and achieving agriculture and food security are two of the execution priorities we have identified in the Economic Recovery and Growth Plan and we are looking forward to advancing our ongoing conversations with multilateral lenders on these priorities over the coming days as we look to accelerate implementation.”

The Minister will also speak at a meeting on how to improve nutrition and how to close the Financing Gap for Water Resources.

Source News Express

Posted 19/04/2017 05:30:58 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
16-year-old wins 2017 Miss Virginity beauty pageant •22...

Health hazard at Tantalizers (Garki) Abuja

Borno Commissioner dies after brief illness

Anambra: Assailants behead man, 73, in his farm...

VolunteerCorps partners Osun to improve performance of students...

Delta, Plateau governors floor challengers at election tribunal,...

Boko Haram: 240 displaced children die of malnutrition...

NIMASA DG mourns Rivers Police Commissioner, says death...

NSCDC warns officers against abuse of firearms

Border dispute tears Abia, Imo apart

Tribute to Pastor Enoch Adeboye, By Ebun-olu Adegboruwa...

Kanye West premieres jaw-dropping ‘Famous’ full of naked...

 

Latest News How evil pastor lured 900 church members to commit suicide 9 confirmed dead in Lagos boat mishap Shell raises the alarm over safety risks from illegal occupation of Rivers oil and gas facilities Buhari: Kogi declares public holiday for thanksgiving 100 Yoruba groups to take position on restructuring Sept. 7 Bandits kill Benue Governor’s aide, injure wife MOSOP suspends 3 for anti-Ogoni activities ASUU’s demands unrealistic — Ezekwesili PDP to bounce back to presidency in 2019: Ukah 3 top Hajj officials sacked over corruption Christian teenager detained over blasphemy in Pakistan, may be put to death Buhari back to move Nigeria forward: Youth Alliance

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (272,146 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (254,071 views) Shameless Genevieve Nnaji exposes breasts in public (206,442 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (174,412 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (173,099 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (154,685 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (133,922 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (125,088 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (117,970 views) Lagos plane crash: Journalist releases victims’ names (109,401 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (108,705 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (101,255 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,661) Business Verdict (19) Columnists (728) Complaints & Requests (92) Enterprise & Opportunities (172) Entertainment (352) Features (476) Global Business Monitor (170) International (1,497) Interviews (128) Live Commentary (28) Love Matters (67) News (27,603) Opinion (781) Pidgin (8) Politics (3,858) Religion (597) Sports (1,306) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN words on marble advert

 

 

Senator Adeleke on the dancing steps in London

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!