President Bola Ahmed Tinubu’s Special Adviser on Monetary Policies. Olawale Edun on Tuesday, reeled out what he described as solutions that will address Nigeria’s economic woes.
Responding to questions by the Senate President, Godswill Akpabio and other senators Edun who is also a ministerial nominee said he planned to use technology to block revenue leakages.
Edun explained that he would improve on the recent policies of President Tinubu towards a lasting growth of the Nigerian economy.
“There is a need for more resources for the finance of the federal, state and local government. First, there was a commitment to technology. When I was commissioner at the Subnational level in Lagos state, technology was used to boost revenue generation, total computerization of government and reliance on the private sector to drive the economy and the efficient use of the financial market.
”On the state of the economy, in the 1990s, the Gross Domestic Product of Nigeria was higher than that of China. The story is different today. The reason is that production is stale by insecurity and inflation; however, there is a recent turnaround. The more you block the holes, the better revenue saved.
”I assure you that there will be continued improvement in the federal government’s fiscal situation. The subsidy removal and forex reforms have put the economy in a better position. To ensure that the poorest, weakest are protected in the economy. What remains is for us to do what we can to sustain this process”, he said.