Nigeria at 59, President Muhammadu Buhari stated that severe consequences await any of the nations revenue-generating agencies that have failed to achieve agreed revenue targets.
The president gave the warning today Tuesday 1st October 2109, in his Independence Day address in celebration of Nigeria’s 59th Independence Anniversary in Abuja.
The president warned that the revenue-generating and reporting agencies would come under much greater inspection so as to achieve the desired goals. “With this, our revenue-generating and reporting agencies will come under much greater scrutiny, going forward, as the new performance management framework will reward exceptional revenue performance, while severe consequences will attend failures to achieve agreed revenue targets,’’ the President said.
Buhari further explained that he recently initiated an Economic Advisory Council to advise him on the inclusive and sustainable macroeconomic, fiscal and monetary policies we can use for this great nation. Buhari said the Council would work with “relevant Cabinet members and the heads of key monetary, fiscal and trade agencies to ensure we all remain on track as we strive for collective prosperity’’.
However, President Buhari stated that his own administration has also committed to ensure that any inconvenience associated with any painful policy adjustments is abated, such that the poor and the feeble who are more at risk, do not bear the impact. Buhari further assured the country that the government ongoing N500 billion Special Intervention Programme would continue to target these at-risk groups.
He stated that he would overcome this through the Home-grown School Feeding Programme, N-Power Job Creation Programme, loans for traders and artisans, Conditional Cash Transfers to the poorest families and social housing scheme and Government Economic Empowerment Programme.
The president also noticed that the nation’s population growth rate had remained among the highest in the world, presenting both challenges as well as opportunities. “It is of our collective responsibility to ensure that we provide adequate resources to meet the basic necessities of our teeming youth”. The President stated that he shall continue to invest in education, health, water and sanitation, as well as food security, to ensure that every basic need of each individual of this great nation is met.