Tinubu’s fiscal governance reforms aim to restore public trust, promote transparency, and shift Nigeria’s economy towards inclusive and sustainable growth

Tinubu’s fiscal governance reforms were the central theme on Monday as President Bola Ahmed Tinubu reaffirmed his administration’s determination to restore public trust and reshape Nigeria’s economic future through transparency and responsible financial practices.

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Speaking at a national conference on public accounts and fiscal governance in Abuja, Tinubu, represented by Minister of State for Finance, Doris Uzoka-Anite, stated that his policies aim to drive inclusive development by tackling structural inefficiencies and redirecting national resources to critical sectors.

He defended the removal of fuel subsidy, describing it as a difficult but necessary decision.

“In 2022 alone, Nigeria spent over ₦4 trillion on fuel subsidies, more than our entire capital expenditure. It was unjust and fiscally unsustainable,” he said.

According to the President, funds saved from the subsidy removal have been channelled into infrastructure, public transport, and targeted interventions, all aligned with the broader Tinubu fiscal governance reforms.

The President also noted that the newly enacted tax laws would simplify compliance, expand the tax base, and eliminate leakages through digitisation.

These measures, he said, are designed to support small businesses and enhance national revenue without overburdening the informal sector.

“There is now better coordination between fiscal and monetary policies,” Tinubu added. “We are addressing inflation by removing bottlenecks in food supply chains and boosting domestic production.”

Senate President Godswill Akpabio, represented by Senator Abdul Ningi, charged the Public Accounts Committees of the National Assembly to strengthen their oversight functions, saying, “Without accountability, there will be no prosperity.”

In his remarks, Speaker of the House of Representatives Tajudeen Abbas, represented by House Leader Julius Ihonbvere, decried Nigeria’s unresolved fiscal infractions. He revealed that over ₦300 billion flagged in audit reports remains unrecovered.

“We are refining our processes and promoting real-time tracking to ensure compliance,” Abbas said. “Fiscal responsibility cannot thrive where there are no consequences for mismanagement.”

Chairman of the Senate Public Accounts Committee, Senator Ahmed Wadada, called for a renewed national commitment to financial integrity. He emphasised the importance of transparency, saying, “Public funds must be seen as a sacred trust.”

Wadada added that the Tinubu fiscal governance reforms must go beyond policy and translate into measurable outcomes for Nigerians, especially in education, healthcare, and infrastructure.

Hon Bamidele Salam, Chairman of the House PAC, echoed this sentiment, urging all public officials to move from rhetoric to results. “Making public funds work for public good must be more than a mantra,” he said.

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The conference, themed “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development”, highlighted how these reforms are shaping a more accountable and inclusive economy.