The Senate, through the Chairman of its Committee on Finance, Mohammed Sani Musa, has called for urgent budgetary reform that would adequately address the nation’s current social and economic challenges.
Musa is a delegate representing Nigeria at the ongoing Spring Meetings of the World Bank and International Monetary Fund, in Washington DC.
The Senate Panel Chairman, according to a statement from his Media Office, yesterday, stated this on the sidelines of the Investors’ Forum in the US.
He specifically urged the executive arm of government to initiate Nigeria’s long-overdue transition to a Results-Based Budgeting (RBB) system. He emphasized that monetary reforms must be complemented by urgent and far-reaching fiscal reforms to sustain the momentum.
He specifically called on the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to work collaboratively with the Minister of Budget and National Planning, Atiku Bagudu, to initiate the Nigeria’s long-overdue transition to a Results-Based Budgeting (RBB) system.
The Senate Finance Panel Chairman commended the leadership of the Central Bank of Nigeria (CBN) for the unprecedented international credibility accorded to Nigeria’s economic reform agenda.
