Oyedele pledges to prioritize revenue mobilization, fiscal sustainability
Minister of State for Finance Pledges Revenue Mobilization, Efficiency, and Sustainability
The newly appointed Minister of State for Finance, Taiwo Oyedele, has committed to prioritizing revenue mobilization, enhancing spending efficiency, and ensuring fiscal sustainability in his new role. Oyedele was sworn in by President Bola Tinubu during a brief ceremony at the State House on Monday.
In a statement to reporters following the inauguration, Oyedele expressed gratitude to President Tinubu for the opportunity to serve. He acknowledged the critical nature of the current economic climate and promised to dedicate himself fully to his responsibilities.
“The day the reward for doing a good job is more work,” Oyedele remarked, emphasizing that holding a high office entails greater responsibility. He also expressed appreciation to Nigerians and stakeholders for their support of past reforms, noting that the true value of such initiatives lies in their effective execution.
“Reforms are only as good as the paper on which they are written. What is really important is diligent execution, which involves moving from policy formulation to actual implementation,” he said. Oyedele assured both the President and the public of his commitment to delivering results.
He outlined his key priorities, stating that the Ministry of Finance will focus on boosting revenue generation to meet increasing financial demands at both federal and sub-national levels. Oyedele emphasized the importance of ensuring that every naira generated delivers maximum value for citizens and highlighted the need for improved spending efficiency.
Additionally, he pointed out the necessity of strengthening debt management and maintaining fiscal sustainability. The minister indicated that collaboration with other governmental arms would be crucial to ensure that fiscal policies are aligned with monetary, trade, and broader economic policies.
Oyedele also stressed the importance of positioning Nigeria effectively to navigate global economic challenges while seizing emergent opportunities. “We don’t live in isolation. With global geopolitical developments and economic pressures, we must consider how Nigeria can best manage these challenges while maximizing local and global opportunities,” he concluded.
