FAAC Delegates Commit to Actionable Strategies to Address Fiscal Challenges

Delegates of the Federation Account Allocation Committee (FAAC) have converged on Bauchi for the 2024 NACOFED Conference to discuss and commit to a more resilient and prosperous Nigeria with actionable strategies expected to address fiscal challenges.

The conference signifies a significant determination towards ensuring the revitalisation of the country’s economy.

Themed: Fostering Economic Growth in Challenging Times: Strategies for Policies and Partnership for Fiscal Sustainability and National Development, the event brought together key policymakers and stakeholders to discuss strategies for addressing Nigeria’s economic challenges.

Hosted by Bauchi State Governor, Sen. Bala Mohammed, the conference highlighted the administration’s bold economic reforms aimed at stabilising the economy, driving inclusive growth, and improving the quality of life for Nigerians.

In his address at the event, highlighting the redirection of resources that previously drained public funds, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, noted that President Bola Ahmed Tinubu’s administration is prioritising investments in critical sectors such as infrastructure, education, healthcare, and social services.

These measures, he said, are part of a comprehensive strategy to alleviate poverty and uplift millions of Nigerians over time.

The Minister further highlighted targeted social intervention programs, such as biometric-based direct payments to vulnerable households and cost-of-living initiatives, aimed at cushioning the impacts of reforms.

The conference further explored opportunities for fostering partnerships across all levels of government and leveraging private sector investment to spur job creation and industrial growth. A key focus was on collaboration and trust-building as essential tools for addressing Nigeria’s fiscal and economic challenges.

Speaking, the Governor of Bauchi State, Bala Mohammed, commended the Federal Government’s vision and reiterated the Bauchi State Government’s commitment to playing a pivotal role in Nigeria’s economic transformation.

“This gathering underscores the importance of unity and shared responsibility as we work toward sustainable development,” he said.

Delegates arrived at the meeting with renewed vigour, committed to a more resilient and prosperous Nigeria with actionable strategies expected to address fiscal challenges.

Hauwa Abu