NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Adeosun identifies 3 key drivers of sustainable economic development

By News Express on 21/04/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 631

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

Minister of Finance, Kemi Adeosun, has advised focusing on non-oil revenue growth, tax compliance and budget accountability to drive sustainable economic development.
She highlighted these three key drivers of sustainable economic growth on Thursday when she met with fellow Finance Ministers at a meeting convened by the G24 Group to discuss strategies to drive non-oil revenue growth and achieve inclusive growth.

Speaking after the meetings, the Minister said: “Revenue mobilisation is critical to the success of Nigeria’s economic reform agenda. We have an unacceptably low level of non-oil revenue, and much of that is driven by a failure to collect tax revenues.

“With a tax to GDP ratio of only 6%, one of the lowest levels in the world, we have a lot of work to do if we are going to build a sustainable revenue base that will deliver inclusive growth. Our data gathering programme over the last year has now given us the tools we need to be more aggressive at pursuing tax avoiders, both domestically and abroad.

“Just like some of our contemporaries in the G24 have done successfully, we are going to focus on tax in 2017 through an asset an income declaration scheme to address our low tax revenue collection and ensure improved compliance, a broader tax base and more sustainable revenue. This is fundamental to delivering on our reform plans.”

Speaking at the G24, the Minister also highlighted the need for strong budget implementation and transparency to create trust and accountability in government:

“While we focus on raising revenue’s and bringing people into the tax system, we must be equally aggressive in our approach to budget implementation and transparency. Our people must know where their hard earned tax contributions are being spent and the impact that they are having on national development, and the daily lives of citizens. This will be a core focus for us,” she said.

Mrs. Adeosun also met with the ratings agencies Moody’s and Fitch to update them on progress towards economic reform objectives, and met with the World Bank Country team to discuss the status of on-going projects in Nigeria, and the pipeline of projects for 2018.

The Minister will be attending meetings on closing the financing gap for water, affordable housing finance food security and nutrition over the coming days as part of the Nigerian Government’s focus on sustainable solutions to some of Nigeria’s most pressing social challenges.

According to Adeosun, “While the infrastructure that we build to facilitate power and transportation is vital to our economic growth, we are equally focused on addressing the challenges we face to deliver services to our people.
Water quality and nutrition are fundamental to quality of life, but also deliver economic benefits. We must do more to improve living standards for our people and so addressing food security, water and nutrition are central to our reform agenda. This isn’t just about economics, these are the basic responsibilities of government, we need to redouble our efforts and show people that their tax revenue can deliver real change in their daily lives.”

Source News Express

Posted 21/04/2017 5:58:24 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Buhari tasks military officers on professionalism

Employers dismiss FG’s directive to banks to suspend...

Dogara laments low awareness of legislature’s role by...

Slain activist’s wife for US Govt. programme •Intersociety...

BBC’s Mukoro feared drowned; wife heartbroken

INEC to announce election result Monday afternoon •Only...

Road safety flags off Special End-of-Year Patrol

US patrol officer injured in Canadian PM’s motorcade...

Ex-President Jonathan’s friend dumps PDP for APC

FG builds Naval Base in Niger State

Biafra and Lagos: 50 years after, By Olusegun...

Boko Haram kills 235 police personnel in Yobe...

 

Latest News Violence mars APC meeting; 3 killed during fracas, many wounded 2019: Okorocha vows to crush Madumere •Weeds out loyalists from government 3 soldiers, 2 Civilian JTF die in showdown with Boko Haram •Troops gun down 3 terrorists ‘2,000 medical doctors leave Nigeria yearly’ 3rd Force pitches tent with Nigerian workers ahead of May Day, launches PVC-Ballot revolution for 2019 in Lagos 3 masqueraders in police net over attack on church in Anambra FG not serious about wooing foreign investors — Sanusi Gunmen kill 22 farmers in Ortom’s town World Bank jacks up share capital by $13 billion Who wins Big Brother Naija’s N45m? APC group, PDP, SDP, Obasanjo’s CNM, others to form new party Forex: IMF Seeks Unified Exchange Rate Regime

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,207 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,098 views) Shameless Genevieve Nnaji exposes breasts in public (267,351 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (219,798 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (201,831 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (197,772 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,552 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (154,916 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (146,862 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (138,607 views) Lagos plane crash: Journalist releases victims’ names (136,622 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,346 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,065) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (482) Features (568) Global Business Monitor (262) International (1,920) Interview (149) Live Commentary (28) Love Matters (116) News (34,651) Opinion (915) Pidgin (10) Politics (4,800) Religion (722) Sports (1,483) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement