2 weeks Ago By Chibuzor Emejor
ABUJA – President Bola Tinubu has restated his commitment to leverage cutting-edge technologies to boost transparency and efficiency and cultivate strategic partnerships that will pave the way for sustainable development of Nigeria. Tinubu, who stated this on Tuesday at the 54th Annual Accountants Conference in Abuja, said his collective vision for Nigeria’s future is anchored on strengthening institutions and nurturing a pervasive culture of accountability. The president represented by the Minister of Budget and Economic Planning, Atiku Bagudu Abubakar, said the necessary choices, pleasant and otherwise, made in the last 17 months by his administration were designed to stop the decline and put Nigerians on a path to higher, sustainable, and inclusive growth.
He said: “It is encouraging that GDP growth for the first and second quarters of 2024 was positive while inflation turned downwards. “The foreign exchange market is stabilising, and we see encouraging investment signals. “We are continuing with innovative reform measures: digitisation of revenue collection and government services, consumer credit system to boost manufacturing and enable access to goods and services, mortgage system reform to provide wider opportunities for home ownership, CNG penetration to offer cheaper and alternative energy sources, and agriculture development fund to de-risk agricultural investments further.
“Our reforms include removing punitive subsidies to the economy. “Revenue bleeding has reduced, and the three tiers of government are receiving higher allocations, which enable more support to vulnerable populations. “Social investment spending is increasing, the minimum wage has increased, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.
” He, therefore, noted that the role of accountants in cultivating transparency, upholding integrity, and managing the nation’s resources adeptly is indispensable. He said: “As we convene in this esteemed assembly, I would like to pose a question: How can we, as stewards of governance and accountability, harness our collective expertise to foster a more transparent, efficient, and equitable society? “Your role as accountants in cultivating transparency, upholding integrity, and managing our nation’s resources adeptly is indispensable. “Your expertise does not merely shape our economic landscape—it fortifies the foundation of trust upon which our societal progress is built.
“We convene at a time when the governance landscape is dramatically evolving, presenting challenges and opportunities that demand innovative solutions and proactive strategies. “The advent of emerging technologies opens new avenues for enhancing accountability and transparency.”.
