The Presidential Office has announced that President Bola Tinubu is ready to collaborate closely with the National Assembly to reduce government expenditure.
Special Adviser to the President on Media and Publicity, Ajuri Ngelale, shared his insights during an interview on Monday.
Ngelale highlighted that the President is committed to optimizing federal expenditure and ensuring a reduction in the overall cost of governance.
He further elaborated, “Collaborating closely with the National Assembly, the President is actively engaged in efforts to streamline expenditure not only within the National Assembly itself but also across various Ministries, Departments, and Agencies (MDAs). This involves addressing both on-the-books and off-the-books allocations.”
Expanding on the concept of “off-the-books,” Ngelale clarified, “Historically, the National Assembly has initiated numerous projects within MDAs that might not align with the core functions and responsibilities of those entities. The President is determined to address this issue by ensuring alignment between projects and the mandates of MDAs.”
The President’s aide also emphasized that prioritizing revenue increase remains a key focus for the government; however, it’s acknowledged that this process won’t yield swift results.
“Making strides towards revenue increase holds a central place on his agenda. Nevertheless, it’s imperative to understand that this isn’t a one-step fix. The strategy encompasses various components. One crucial aspect involves streamlining federal expenditure to eliminate the historical issues of duplications that have plagued our ministries, departments, and agencies.
“The President has unequivocally expressed his commitment not only to reviewing external reports but to actively implementing the recommendations as well. This stance underscores his resolute dedication,” Ajuri stated.
His remark echoed the sentiment of the President, who emphasized on Sunday that the nation cannot sustain its debt obligations using nearly 90 percent of its revenue.
“Is it tenable to persist in servicing our external debt with over 90 percent of our revenue? This trajectory leads to ruin; we cannot afford to persist on this course. We are confronted with tough choices. Poverty is not a matter of disgrace, yet it is not tolerable. We need to eradicate it,” stated Tinubu during his address at the commencement of the Nigerian Bar Association (NBA) annual conference held in Abuja.
In pursuit of national progress, Tinubu asserted that his administration will undertake formidable adjustments, acknowledging that while initial reforms might yield discomfort, Nigeria must demonstrate its readiness to embrace difficult measures to steer the nation towards a trajectory of advancement.
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