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Mr. Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has emphasized the urgent need for a comprehensive review of the country’s fiscal policy and the implementation of tax reforms. Speaking before the Senate committee on finance in Abuja on Monday during the defense of the ministry’s 2024 budget, Edun asserted that these measures are vital to generate sufficient revenue for the effective functioning of the economy.

Edun highlighted that such fiscal adjustments would play a crucial role in attracting both domestic and foreign direct investments, fostering job creation and wealth generation. He outlined the ministry’s commitment to spearheading digitalization initiatives aimed at enhancing efficiency and reducing governance costs to stimulate economic growth.

Emphasizing the significance of digitalization, Edun stated that it serves as a robust tool to safeguard against misuse and unauthorized access to the entire public service system.

Furthermore, Edun stressed that achieving a robust revenue performance is pivotal for overall economic enhancement. He clarified that the 2023 supplementary budget would run concurrently with the 2024 budget.

Addressing the committee, Senator Mohammed Musa, the committee’s chairman, expressed the necessity for a budget that instills renewed hope among Nigerians. He referenced President Bola Tinubu’s characterization of the 2024 budget as the “Budget of Renewed Hope.” Musa emphasized that rekindling hope would have a multiplier effect, leading to improved economic well-being that permeates every household.

Commending Edun for his commendable efforts, Musa assured the minister of the committee’s unwavering support, taking into account Edun’s proven track record.

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