Senate President, Senator Godswill Akpabio, has called upon the 10th Senate to lend their support to President Bola Tinubu’s ambitious development plans for Nigeria, describing them as unprecedented since the days of the nation’s founding fathers. He made this statement during the Senate retreat on Fiscal Policy and Tax Reforms organized by the National Institute of Legislative and Democratic Studies at the Four Points by Sheraton Hotel in Ikot Ekpene Local Government Area of Akwa Ibom State.
Akpabio emphasized the need for optimism and unity in advancing President Tinubu’s roadmap for the country, suggesting that any necessary changes should be made in collaboration with the executive branch. He drew a parallel with the development plans followed by Nigeria’s founding fathers, including Dr. Nnamdi Azikiwe, Chief Obafemi Awolowo, and Sir Ahmadu Bello, which had previously elevated the nation’s status.
Since that time, Akpabio argued, Nigeria has not witnessed the level of comprehensive planning presented by President Tinubu’s administration, which focuses on critical sectors of the economy and aims to eliminate wastage in the economic cycle.
Akpabio underlined the importance of managing public expenditure, supporting the need for fiscal policy and tax reforms, and emphasizing that the “renewed hope agenda” proposed by President Tinubu fosters good economic growth.
Addressing the retreat, President Bola Tinubu, represented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed his commitment to improving the nation’s economy and reducing the number of multi-dimensionally poor Nigerians, which currently stands at 65 percent of the population.
The Deputy Senate President, Senator Barau Jibrin, emphasized the importance of fiscal policy and tax reforms that contribute to the nation’s survival without further burdening its citizens. He highlighted the need for alignment with the executive arm of government’s 8-point agenda.
The Speaker of the House of Representatives, Hon. Abbas Tajudeen, acknowledged the increasing budget deficit and debt servicing, vowing to improve the tax system’s coherence and incentivize industries for job creation and export growth.
Akwa Ibom State Governor, Umo Eno, represented by his deputy, Senator Akon Eyakenyi, applauded the 10th Senate’s dedication to creating laws that promote the economic prosperity and well-being of Nigerians.
The Director-General of the National Institute for Legislative and Democratic Studies, Prof. Abubakar Sulaiman, noted the importance of the National Assembly’s role in aligning with fiscal and sectoral reforms and fostering the Senate’s knowledge and capacity in public financial management. The retreat aimed to enhance senators’ understanding and skills while supporting the Fiscal Policy and Tax Reforms Committee.