President Bola Tinubu reiterates his administration's commitment to tackling inflation and fostering economic stability through prudent fiscal management, transparent governance, and inclusive citizen engagement.

Legit.ng gathered that President Tinubu expressed this commitment during the opening ceremony of the three-day National Conference on Fiscal Governance, Transparency, and Accountability, held in Abuja on Monday, July 7.

The three-day event was organised by the National Assembly’s Public Accounts Committee.

The President, represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite, said efforts are underway to strengthen financial systems across government agencies.

These include key initiatives comprising strengthening the auditor general's office, enhancing transparency in procurement processes, and promoting digital payment systems.

“Public funds must be traceable, and officers accountable. Transparency and accountability are not optional, they are key to Nigeria’s future,” Tinubu said.

Tinubu stressed that Nigeria must reduce inflation by fixing structural issues, especially in food production and supply chains.

He also emphasised the importance of cutting wasteful spending.

"He expressed, “Oversight is not a political tool. It is a patriotic duty.”

The president called on civil society, the media, and everyday Nigerians to hold the government accountable and play an active role in governance.

The British High Commissioner to Nigeria, Richard Montgomery, speaking through his representative William Robinson, commended the country's recent economic reforms, including the elimination of fuel subsidies and improvements to the tax system.

He highlighted the UK's ongoing commitment to supporting Nigeria's financial system-strengthening efforts while stressing that tangible progress relies on

"transparency, accountability, and citizen engagement."

Montgomery further encouraged Nigeria to leverage digital solutions and innovative approaches to enhance public financial management.

Legit.ng previously reported that the member representing South-East on the Governing Board of the North-East Development Commission (NEDC) and former federal lawmaker, Rep. Sir Sam Onuigbo has commended President Bola Ahmed Tinubu for signing into law four tax-related bills, describing the move as a decisive step toward ensuring Nigeria’s economic stability and long-term prosperity.

Onuigbo, in a statement made available to newsmen on Wednesday, hailed the President’s boldness and vision, noting that the new laws mark the first coordinated attempt by the Federal Government to harmonise tax administration and revenue generation in a manner that reflects global best practices.

Legit.ng also reported that a group of housing developers, under the umbrella of the Housing Development Advocacy Network (HDAN), have called on the federal government to include tax relief for building materials and developers of social housing in the Nigeria Tax Bill 2024.

Executive director of the group, Festus Adebayo, noted that incorporating tax reliefs for social housing is key to ensuring that Nigerians get affordable housing.

Source: Legit.ng