By Moji Idris
In a significant determination towards ensuring the revitalization of the country’s economy, the Federation Account Allocation Committee (FAAC) has converged in Bauchi for the 2024 NACOFED Conference
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, Senator Bala Mohammed, the conference highlighted the administration’s bold economic reforms aimed at stabilizing 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 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.
The Director, Information and Public Relations, Mr. Mohammed Manga, said a key focus was on collaboration and trust-building as essential tools for addressing Nigeria’s fiscal and economic challenges.
He said the Governor commended the Federal Government’s vision and reiterated 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.
As the FAAC meeting concludes, delegates depart with renewed vigour, united in their commitment to a more resilient and prosperous Nigeria. With actionable strategies expected to address fiscal challenges, Nigeria’s economic revival gathers momentum.
The conference serves as a testament to the power of unity and collaboration in driving economic growth and development. As Nigeria navigates challenging economic times, the NACOFED 2024 conference marks a significant step towards a brighter economic future.