Nigeria in big mess, chained by poor governance, other challenges’, Shettima admits

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Vice President Kashim Shettima has urged members of the Presidential Committee on Fiscal Policy and Tax Reforms to develop a robust roadmap that will transform the nation’s economy.

 

Mr Shettima advised on Monday when he received the committee members, led by its chairman, Taiwo Oyedele, at the Presidential Villa, Abuja.

The vice president, who acknowledged that Nigeria was “in a big mess,” emphasised that the task before the committee was huge and urged it to implement policies for the country’s development.

“I believe you will come up with a roadmap to salvage our nation. We are in a big mess, but I have confidence in your team,” said Mr Shettima. “This is a great nation chained by poor governance, chained by many challenges.”

He described President Bola Tinubu as a man of courage and conviction and a progressive man in the Nigerian political space.

Mr Shettima, who stressed the importance of fiscal policy and tax reforms, noted that it was a potent tool for resource mobilisation.

While assuring them of the National Economic Council’s cooperation, he said, “our focus should largely dwell on domestic resource mobilisation.

”Especially with trends in the world today, even the biggest economies in the world are faced with this reality.”

The special adviser to the president on revenue, Zaccheus Adedeji, said the committee would be interested in working with the NEC, chaired by the vice president.

In his remarks, Mr Oyedele said the committee was excited about the opportunity to help the country redefine and redesign a new fiscal policy framework.

He noted that the committee differed from the previous ones for two major reasons.

” But we’re putting the interest of our country first, and all the way through. The second thing is Mr President was very clear that he was not interested in committees writing reports,” he stated.

Mr Oyedele said the committee was focusing on interventions to cushion the fuel subsidy removal and exchange rate stability.

” First six months of critical reforms; We plan to rewrite the law. So that will remove the burden on the poorest people.

” And then lastly is one year, which is implementation, and the good thing is that the 30 days, six months, and one year will run concurrently, so we’re already counting down to our first 30 days,” he explained.