Recognising that Nigeria is contending with increasing fiscal and domestic revenue constraints, the federal government says it’s prioritising fiscal policies and reforms aimed at not only providing short and medium term relief but also at sustainability addressing the longstanding challenge of domestic revenue mobilisation.
Minister of Finance, Budget and National Planning, Zainab Ahmed, made this known in a goodwill message she delivered at the Central Bank of Nigeria (CBN) international day commemorative event themed ‘Gender Equality Today for A Sustainable Tomorrow’.
A press statement issued by the minister’s media assistant, Yunusa Tanko Abdullahi, Thursday, quoted Mrs. Ahmed as saying “funding and gender sensitive fiscal policies are critical, as are credible disaggregate data and impact monitoring and evaluation.”
She stated that the government is also prioritising work towards improving internally generated revenue, blocking tax leakages, creating new tax sources, and promoting effective tax collection.
According to her, this is being achieved in part through continued implementation of the Strategic Revenue Generation Initiative (SRGI), and through continued incremental fiscal reforms via the introduction of annual Finance Bills, as well as reducing administrative inefficiencies and lowering the overall cost of governance.
“Through the implementation of the annual Finance Acts, we are providing tax relief and other support to micro, small and medium enterprises (MSMEs), many of which are women-owned,” she said.
The minister said “the country is developing an Integrated National Financing Framework (INFF) to strengthen our planning processes; and strategically identify and mobilise the resources required to finance our most recent medium and long term development plans.
“We are committed to ensuring that the INFF is gender responsive, in line with overall government commitments around gender responsive national development planning and financing.”