The Federal Ministry of Finance has expressed confidence that strategic resource allocation and prudent fiscal management will be central to achieving Nigeria’s development goals and promoting greater economic prosperity.
This statement was made in Abuja during the Ministry’s 2025 Budget defense before the House of Representatives Committee on Finance. The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasized that the 2025 budget has been carefully crafted to align with national priorities, focusing on key areas such as economic growth, infrastructure development, and sustainable fiscal practices.
Dr. Uzoka-Anite, who represented the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighted the Ministry’s significant role in shaping fiscal policies and driving economic development. She reiterated the Ministry’s commitment to supporting a stable, resilient economy in line with the President Bola Ahmed Tinubu-led administration’s Renewed Hope Agenda.
Accompanied by the Permanent Secretary of the Ministry, Mrs. Lydia Shehu Jafiya, and the Ministry’s Directors, Dr. Uzoka-Anite presented and defended the Ministry’s proposed 2025 budget, assuring that it would be focused on meeting the government’s policy objectives, aimed at improving the lives of Nigerians.
Budget Summary and Performance Review
In a detailed presentation, Mrs. Lydia Shehu Jafiya provided an update on the Ministry’s 2024 budget performance, stating that most of the funds had been allocated to overheads, personnel expenses, and limited capital projects. She noted that the proposed 2025 budget will address current and emerging needs, with an emphasis on essential upgrades to the Ministry’s headquarters. She stressed that a conducive working environment is crucial for enhancing operational efficiency and improving service delivery.
Committee’s Response
Honourable James Faleke, Chairman of the Committee on Finance, praised the Ministry’s presentation and assured the team that the Committee would carefully evaluate the proposal. He noted that the Ministry plays a critical role in ensuring fiscal stability and laying the foundation for sustainable development in Nigeria.
In conclusion, the session underscored the Finance Ministry’s pivotal role in advancing the country’s development agenda, with a focus on effective resource management, transparency, and achieving long-term prosperity. The Committee pledged to review the proposed budget thoroughly and communicate its decisions in due course.
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