FG, States To Brainstorm On Economy Tuesday

By Ebitonye Akpodigha

Tuesday, September 27, 2016, federal, state, local governments and other stakeholders will gather in Ogun State to discuss the present economic situation in the country, with a view to finding a way out of it.

The meeting, hosted by the Minister of Finance, Mrs Kemi Adeosun, is packaged under the umbrella of the National Council on Finance and Economic Development (NACOFED) 2016 conference.

A statement issued Sunday by her aide. Mr Festus Akanbi, disclosed that the meeting would precisely take place in Abeokuta, the state capital.

According to Mr Akanbi, the state Governor, Mr Ibikunle Amosun, is expected to declare the occasion open.

He disclosed that the theme for the conference is ‘Enhancing Revenue Generation and Obtaining Best Value for Money in Expenditure.’

At the event, which kicks off in the morning, ways of improving revenues of the three tiers of government would be tabled and deliberated on.

Those expected to grace the occasion include Ministers, Governors, Commissioners of Finance and Budget from the 36 states of the Federation, organised private sector and other major players in the economy.

At the meeting, issues relating to how state governments can align with the Federal Government on various issues of economic concern in order to ensure policy consistency and effective implementation would be discussed.

Some of the topics to be treated at the conference are ‘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; ‘Harnessing Customs and Excise Duties for Improved Revenue Generation’ by the Comptroller General of Customs, Col. Hammed Ali (rtd); and ‘Tax as a Source of Improved Revenue to the Federation Account’ by the Chairman of the Federal Inland Revenue Service, Mr Babatunde Fowler.

NACOFED was formed 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.