Vice President Kashim Shettima has unequivocally acknowledged the challenging economic situation facing Nigeria. He spoke at a session with the members of the Presidential Committee on Fiscal Policy and Tax Reforms, urging them to construct a comprehensive roadmap that will lead the country toward economic transformation and recovery.

Shettima conveyed this imperative during a reception at the State House in Abuja, where he met with the committee members, led by chairman Mr. Taiwo Oyedele.

Emphasizing the gravity of the task ahead, Shettima stated, “The responsibilities before you are substantial. I am confident that your collective expertise will yield a robust roadmap capable of redefining our economic landscape. Addressing the underlying issues in our fiscal and tax policies is paramount, as these policies fundamentally shape our nation’s economic progress.”

Highlighting the vital role of fiscal and tax policies in national development, the vice president urged the committee to formulate recommendations that are pragmatic and timely, given the current economic realities.

Shettima further stressed, “Our primary focus should be on mobilizing domestic resources, especially considering the prevailing global trends. Even the world’s largest economies are contending with this new reality.”

Observing that fiscal policy and tax reforms are pivotal for meeting national aspirations, Shettima underscored the international significance of these efforts, citing the emergence of geopolitical unions like BRICS.

Commending the committee’s composition, Shettima acknowledged, “The diverse composition of this committee exemplifies the president’s unwavering commitment to your mission. I have great pride in your capabilities. I am personally acquainted with several committee members, individuals of impeccable character, integrity, dedication, and patriotism.”

Zaccheus Adedeji, Special Adviser to the President on Revenue, expressed the committee’s intention to collaborate closely with the National Economic Council (NEC), chaired by Shettima. Adedeji highlighted the importance of engaging sub-national governments, essential stakeholders in the committee’s endeavors.

Committee Chairman Taiwo Oyedele affirmed the committee’s enthusiasm for the task at hand, expressing a determination to redefine Nigeria’s fiscal policy framework. Oyedele conveyed, “Our unwavering focus, as directed by Mr. President, encompasses fiscal governance, revenue transformation, fiscal competitiveness, and facilitation of economic growth.”

Assuring the vice president of the committee’s thorough engagement, Oyedele pledged to collaborate with various segments of society both domestically and internationally. He also indicated the committee’s readiness to work with sub-national governments through the NEC to fulfill its mandate.