The Minister of Finance, Mrs. Zainab Ahmed, declared that the present administration, in a bid to set the economy on the path of growth and economic sustainability is working out plans to stabilize revenue.
This statement is contained in her Independence Day message to Nigerians, which was released to the mainstream via her official Twitter handle, to commemorate the Independence Day celebrations.
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Mrs. Zainab Ahmed emphasized that the present administration is working out ways and means in which government revenue will be stabilized to restore adequate fiscal space, in a bid to fund the Federal Government and the States through the Federation Account Allocation Committee (FAAC).
The Minister stated that in line with the president’s mandate, a committee was set-up to ensure that the business of the government continues to run as normally as possible, with government agencies considerably funded.
(READ MORE:FAAC disagrees over revenue allocation for FG, States, LGs)
However, Mrs. Ahmed noted that the COVID-19 pandemic has slowed economic activities and growth, and this continues to mount pressure on output across various sectors of the economy, she emphasized that the present administration is committed to providing critical infrastructures and enhancing inclusive growth through policies, programmes and projects that will stimulate job creation in the country.
She said, “Despite the challenges of COVID-19, the government has continued to invest in critical infrastructures like roads, rail and electric power to ensure continuous growth hinged on programmes and projects that will enhance employment of large percentage of our youth.”
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In like manner, Mrs. Ahmed addressed the sentiments regarding the recent restrictions and the policy decisions of the government in her Independence Day address. She reiterated that the unexpected public health emergency caused by the COVID-19, coupled with the drop in oil revenue from the ebbing economic activity made the government to take difficult decisions, in a bid to keep the economy afloat at a critical time as this.
As the journey has been a mixture of challenges and successes, she remarked that despite the challenges, there are myriads of opportunities ahead of the nation.
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She admonished that Nigeria belongs to all of us, and we have to appreciate our differences and forge ahead to build a united prosperous nation.
