Minisiter Kemi Adeosun Seeks More Technical, Institutional Support
The sixth Steering Committee meeting of the International Monetary Fund (IMF) –AFRITAC West 2 held in Abuja yesterday and was hosted by the Minister of Finance, Mrs Kemi Adeosun. Present at the event were Senior Resident Representative of the IMF in Nigeria, Amine Mati; AFRITAC West 2 Coordinator, Oral Williams; Director-General of Budget Office, Ben Akabueze; and Executive Chairman of the Federal Inland Revenue Service, Babatunde Fowler; together with delegates from Ghana, Cape Verde, Liberia, Sierra Leone, The Gambia and Nigeria in attendance.
The event was anchored on provision of more technical and institutional support for Nigeria and other West Africa countries; with a projection that such development will significantly improve the National economy; Minister of Finance,Kemi Adeosun seek more technical, institutional support for Nigeria and other West Africa countries.
The Minister of Finance, Mrs. Kemi Adeosun; made mentioned that “The transfer of these technical capabilities and emergence of stronger institutions will increase the economic resilience of member-countries and these countries will have the technical capability to successfully and independent manage their economies to effectively deliver on critical development imperatives”
She also emphasized that the Nigerian government is determined to diversification of the economy from over reliance on oil, adding that the economy would soon be shielded from the negative effects of dependence on a singular resource. The government, she said, is currently mobilising domestic revenue through taxes to improve the economy and foster economic development.
“AFRITAC has been reported to support this effort by conducting the Tax Administration Diagnostic Assessment Tool, which provided Nigeria (and other member-countries that have successfully completed it) with an objective assessment of key components of our tax system.
The Minister also said this innovation is critical to Nigeria’s future development, and would support its continued implementation, and she later urged member-countries of the sub-region to collaborate with AFRITAC to strengthen country ownership of the various capacity development interventions.
The Coordinator of AFRITAC, Mr. Oral Williams, disclosed that the center had executed 150 capacity development activities across member-countries. He also added that the center had designed the work programme for the next fiscal year with the aim of delivering quantifiable results.