NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Adeosun takes economic reform agenda to World Bank spring meetings

By News Express on 19/04/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,058

•Finance Minister Kemi Adeosun.
•Finance Minister Kemi Adeosun.

Finance Minister, Mrs. Kemi Adeosun, is attending the World Bank and IMF Spring Meetings in Washington DC where she is participating in a range of events focused on different aspects of the Nigeria’s economic reform agenda.

At her opening event on Monday, she gave an address to the Global Parliamentary Conference, alongside parliamentarians from around the world, focused on the country’s economic reform agenda and the need for strong executive and legislative collaboration.

Addressing senior representatives from the World Bank and IMF, as well as over 150 parliamentarians, the Minister, according to a statement issued by Festus Akanbi, her Media aide, called for greater focus on collaboration in illicit financial flows from Africa as a core pillar of the government’s strategy to significantly enhance domestic government revenue and deliver sustainable economic growth.

“The government is focused on resetting the Nigerian economy by addressing our traditional over-reliance on oil revenues and establishing the basis for sustainable non-oil revenue growth. To improve non-oil revenues, we have to address illicit capital flows. When stolen money is transferred from Nigeria, or other African countries, there are too few questions asked by those countries that receive the funds, but when we identify those funds as stolen and seek to recover them, there are too many questions being asked.

“There is money sitting in foreign bank accounts that we have spent over a decade trying to recover. That is money that could deliver significant value for Nigeria as we seek to increase spending on critical infrastructure and establish a basis for long term sustainable growth. I hope that the Automatic Exchange of Information scheme coming into force next year will be a step towards achieving greater transparency, but we need more collaboration amongst parliamentarians in Africa, and across the World to ensure that this situation improves and that recipient countries are held to account.”

Commenting on the domestic agenda to ensure significant reductions in ‘leakages’ of public funds, and improved efficiency in public expenditure, the Minister said, “We are going after those who have stolen our money. We have put in place a very successful whistle blower programme that is delivering results, and allows those who report illicit activity to receive up to 5% of any funds that we recover. We are also significantly improving our financial management controls to ensure that it is considerably more difficult for public funds to be diverted. We have to do more though and that means collaboration with the legislature. We need tighter tax and financial reporting legislation and to ratify bilateral agreements so that our enforcement agencies are empowered to deliver the results that we need.”

Among several other meetings, the Minister will also meet with the World Bank to discuss lending to strategic sectors of the economy as part of the administration’s focus on addressing Nigeria’s infrastructure deficit and accelerating implementation of critical projects.

“To create the basis for long term growth, we need to invest urgently in our infrastructure. Achieving energy sufficiency and achieving agriculture and food security are two of the execution priorities we have identified in the Economic Recovery and Growth Plan and we are looking forward to advancing our ongoing conversations with multilateral lenders on these priorities over the coming days as we look to accelerate implementation.”

The Minister will also speak at a meeting on how to improve nutrition and how to close the Financing Gap for Water Resources.

Source News Express

Posted 19/04/2017 05:30:58 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Boko Haram renews pledge of allegiance to ISIS...

Boko Haram commanders wiped out in joint military...

Why Willie Obiano should not be re-elected as...

Imo outlaws female circumcision

Court quashes FG’s bid to stop MTN from...

Buhari launches move for local production of weapons...

240 migrants perish near Libya

Food security: Ambode unveils plans to integrate South...

King of kidnappers nabbed in Anambra, house to...

House of Reps clears members involved in US...

Elumelu mourns with Sierra Leone, donates $500,000

Kidnapping alien to Ogun, says Amosun

 

Latest News Gani Fawehinmi Nigeria at a political cross-road, By Bernard Balogun Reps call for Buhari's impeachment over $496m aircraft scandal Police re-arrests Dino Melaye in hospital Naira appreciates against Dollar at parallel market CBN injects $210m into FOREX Market Former governor remanded in EFCC custody over N5.7 billion fraud Lagos records revenue increase in first quarter Sex-for-marks: What Monica Osagie told panel NIMASA inaugurates, deploys 120 marine marshals Chinese developers set to invest in Nigeria Okowa orders demolition of illegal structures within Asaba airport

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,872 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,894 views) Shameless Genevieve Nnaji exposes breasts in public (267,960 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,351 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (202,191 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (198,266 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,964 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,327 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,201 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (139,135 views) Lagos plane crash: Journalist releases victims’ names (136,990 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,658 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,074) Business Verdict (40) Columnists (837) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (484) Features (569) Global Business Monitor (264) International (1,927) Interview (149) Live Commentary (28) Love Matters (116) News (34,727) Opinion (917) Pidgin (10) Politics (4,811) Religion (724) Sports (1,485) Stock Watch (28) AMA & Al Jazeera Global Update

 

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement