Nigeria to drive growth through mobilization of tax revenues —Adeosun

Finance Minister, Kemi Adeosun, said the Federal Government was determined to drive its economic growth plan through mobilization of more revenues.

The Minister made the disclosure on Thursday in Abuja at a high-level discussion with a World Bank Mission comprising of 10 Executive Directors led by Patrizio Pagano.

According to her, the government, having returned the nation’s economic growth, would work to accelerate the growth rate and improve the ‘Ease of Doing Business’ to increase economic activities and create jobs in the country.

“As a government, we take the view that growth is very important and our priority was first to get growth and then to accelerate it by creating jobs through improved spending on fiscal infrastructure

“The growth will be underpinned by stimulating the ‘Ease of Doing Business’ and improving our capital expenditure which we have done in the last two years,” Adeosun said.

She, however, urged Nigerians to trust the government as it is ready to deliver on its promises of improving the economy and providing sustainable infrastructure development. “We are optimistic but we will remain vigilant,” Adeosun added.

Read also: Senate to Pass 2018 Budget May 16

The Minister, who revealed that the nation’s number of tax payers had increased by 5 million from 14 million in two years, expressed optimism that the growth would be stronger in 2019.

“We have been able to grow the tax payers’ base to 19 million in two years from the 65 million economically active people who are not tax complaint,” the Minister said.

She pointed out that the administration was driving the mobilisation of more revenues to sustain Nigeria’s economic growth, adding that the current administration was paying attention to electricity which it considered critical in expanding the economy.

Speaking earlier, Head of World Bank Mission to Nigeria, Patrizio Pagano, said that his team was in the country to gather information on the nation’s economy and priorities of the government in the power sector.

“We have met with several entrepreneurs and have seen how vibrant the private sector is. We want to understand how the power sector is evolving in Nigeria,” Pagano said.

He urged the government to synergise with the private sector, stressing that the administration would need the sector to achieve the nation’s development plans.

The World Bank Mission had earlier met with organised private sector in Lagos and undertook a tour of LAPO Microfinance project in Lagos.

During their stay, the delegation are expected to visit Edo State to inspect Azure Power Plant in the state.

The visit is also expected to provide first-hand impression of the challenges that both the Federal and State Government face in implementing development projects, as well as, ensuring good governance overall.

By Oluwasegun Olakoyenikan…..

 

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