VP Sambo affirms NACOFED veritable platform for stronger revenue generation, curbing security challenges

Enugu (OAGF Report) – Nigeria’s Vice President, Namadi Sambo has described the yearly meeting of the National Council on Finance and Economic Development as a veritable platform for exchanging ideas on how the need for stronger revenue generation and the security challenges facing the country will be tackled.

Namadi Sambo  represented by the Minister of National Planning, Abubakar Suleiman disclosed this while declaring open the 2014 National Council on Finance and Economic Development in Enugu scheduled from 14th – 16th of October, 2014; noting the Federal Government’s readiness to tackle its security challenges. He further explained that the country’s GDP is growing at a good rate, but for the current dwindling oil prices. He urged all tiers of government to urgently strategize and diversify their revenue base to reduce dependence on oil revenue.

He implored the states to work in unison with the Federal Government’s vision to make Nigeria one of the greatest achievers by 20:20:20.

The host of the conference – Enugu State Governor, Sullivan Chime represented by the Deputy Governor of the State, Ralph I. Nwoye welcomed participants to the coal city and assured them of their safety. He also lauded NACOFED for being one of the key bodies instituted to facilitate growth in the economic sector of the country.

He emphasized that the mission of the States should be on how to generate revenue on their own, so as to help the country achieve its economic target in the Vision 20:20:20. He also advised the States to engage prudent planning, develop the non-oil sectors and consistently seek to achieve the set goal.

Also speaking at the event, the Chairman of the Finance Commissioner’s Forum, who is the Commissioner of Finance in Ebonyi State, Timothy Order stated that the event is an annual one whereby the stock of events for the past year are taken and decisions for the coming year made. He praised the Accountant-General of the Federation, Jonnah O. Otunla for his relentlessness in keeping the country’s account intact through IPSAS.

The Minister of State for Finance and Chairman of NACOFED, Bashir Yuguda during his vote of thanks affirmed their readiness to make revenue generation their bedrock and security challenges a foregone issue. He added that for a country to survive economically, the two must be put in place and on check. Yuguda thanked President Jonathan for confiding in him and his team and the Accountant-General of the Federation as well as the organizers of the programme for their dedicated organisation of the conference. He wished them a fruitful and result-oriented deliberation.