The National Council on Finance and Economic Development
(NACOFED) 2016 conference, would on Tuesday open in Abeokuta, Ogun State
capital to examine options available to government to improve revenue streams
especially in a period of low earnings from crude oil, reports ITRealms.
The conference, which is being hosted by the Minister of
Finance, Mrs. Kemi Adeosun, has been themed: Enhancing Revenue Generation and
Obtaining Best Value for Money in Expenditure. According to the Federal
Ministry of Finance, the event will attract a diverse group of participants
including Ministers, Governors, Commissioners of Finance and Budget from the 36
states of the Federation, as well as captains of industry from the private
sector.
NACOFED was created as a forum for members to discuss
current socio-economic issues, and proffer a way forward for the Nigerian
economy on fiscal and monetary policies.
The conference will be declared open by Ogun State Governor,
Senator Ibikunle Amosun.
According to the Minister of Finance, Mrs. Kemi
Adeosun, the policy thrust of the current
administration informs the theme for
this year’s conference. She said the Federal Ministry of Finance has continued
to discharge its numerous functions through well-articulated initiatives and
policies to improve revenue generation, blocking leakages, tackling wastage and
obtaining best value for money in government expenditure.
Some of the topics to be treated at the all-important event
include: “The non-oil sector as a sustainable alternative in enhancing revenue
generation” to be delivered by the Minister for Mines and Steel Development,
Dr. Kayode Fayemi.
Others include “Harnessing Customs and Excise Duties for
Improved Revenue Generation”, to be delivered by the Comptroller General of
Customs, Col. Hammed Ali (rtd); and “Tax as a Source of Improved Revenue to the
Federation Account”, to be led by the Chairman of the Federal Inland Revenue
Service, Mr. Babatunde Fowler.
Business executives and economic analysts expected at the
event include Managing Director, Guaranty Trust Bank, Mr. Segun Agbaje, Group
General Manager, Nigerian National Petroleum Corporation, Dr. M.K. Baru,
Managing Director, Financial Derivatives Limited, Mr. Bismarck Rewane and
former Director General, Budget Office, Mr. Bode Augusto, among others.
The forum serves as an avenue for sharing ideas that will
lead to the streamlining of activities in the finance ministries at the federal
and state levels as well as other financial institutions of relevance, including
government parastatals.
It is expected to enhance the ability of states to align
with the Federal Government on various issues of economic concern in order to
ensure policy consistency and effective implementation.
Oya Omidele/GEE
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