By Sule Aliyu Bauchi
The Special Adviser to the chairman of the Revenue Mobilization Allocation and Fiscal Commition Professor Aliyu Idris, has said that President Bola Tinubu’s economic reforms will continue to enhance Nigeria’s growth potential.
He emphasised that the president is actively working to lift many Nigerians out of poverty.
According to Idris, the President is committed to making life easier for Nigerians by introducing policies and programs that are beneficial to all.
He noted that the key policy changes implemented by the Tinubu-led administration have contributed to stabilizing the economy and creating opportunities for investment and development.
He explained that the measures taken have placed the country on a sustainable path toward industrialization and poverty reduction.
He acknowledged that the administration inherited considerable economic challenges but acted swiftly to address them“
“Why we are having this inflation, is because of fuel subsidy removal and floating of exchange rate, and this has resulted into hyper inflation in the system, and the current government is trying to bring it into measurable condition where the welfare of Nigerians would be improved.
Professor Aliyu Idris who was in Bauchi for the just concluded National Council on Finance and Economic Development (NACOFED) conference said, “I can understand the moods of Nigerians, this is one of the reasons why we are here, because why we are having this inflation, is because of fuel subsidy removal and floating of exchange rate”.
“We are here on a conference organized by the federation accounts allocation committee (FAAC). RMAFC is the sole agency responsible for monitoring of all revenues being accrued and disbursed to the revenue federation account, so we are one of the stakeholders, that’s why we are here to facilitate the conference”.
The Special Adviser added, “So, one of the key note address we are taking from here is how we can mobilize the revenues domestically and improve on the physical tax reform in order to improve national development. By the time we have a positive impact on national development, it will bring down all the microeconomic variables which one of them is inflation”.
According to him, by the time inflation comes down, and talking about food security through economic diversification which would lower inflation, the impact on the wellbeings of Nigerians would be positive and inflation would come down, with Nigerians living a better life.
“So, the Nigerian government is not losing sleep on it, we are already aware and everybody is involve in it. One of the problems is the microeconomic viables, if there is a change in the microeconomic viables, the impact may start from the next 7 – 8 months, so likewise for every fiscal policy, there is a long time plan”.
Idris concluded, “We are trying to see how we can have tactical plan, that is the short-term plan, medium term plan and long-term plan. So on the short term plan, the government is intervening in various sectors, to see that the citizens have the impact on it, but the long term plan, any peaceful policy reform here is going to have sustainable long term wellbeing impact on Nigerians