COVID-19: Finance Minister, AGF to engage state officials on revenue challenges

Emma Ujah, Abuja Bureau Chief

The Minister of Finance, Mrs. Zainab Ahmed and the Accountant-General of the Federation, Mr. Ahmed Idris, are set to engage officials of state governments on resolution of the revenue challenges confronting  the nation following the impact of the COVID-19 pandemic on the economy. 

The Federation Accounts Allocation Committee (FAAC) has had to deal with the tough issue of inadequate earnings for several years, which has often led to stalemated FAAC meetings, due to the rejection of available revenue for sharing at the monthly engagements.

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The Director, Information, Press and Public Relations of the Office of the Accountant-General of the Federation (OAGF), Mr. Henshaw Ogubike, in a statement in Abuja, yesterday, said that the impact of the COVID-19 pandemic on global economy and implications on the Nigerian economy and the Nigerian National Treasury are headline issues that will feature at the workshop to be hosted by the OAGF, in Uyo, later in the month.

He said:  “Participants at the workshop will brainstorm on how to effectively develop strategies for managing national economies in the face of pandemics and other global disasters, using the challenges posed by the COVID-19 in Nigeria as a case study.  

“The workshop will examine pertinent issues such as opportunities for economic recovery in Nigeria during and after the COVID-19 pandemic; strategies to overcome revenue challenges in the midst of COVID-19; management of monetary and fiscal challenges in the era of dwindling revenues; revenue challenges, mobilization and management among sub-national governments in the face of pandemics.”

The director said that resource persons, who are private sector operators, heads of government agencies, members of the academia, and the International Monetary Fund (IMF), will broaden the perspectives on the appropriate roadmap to achieving financial and economic stability for the nation, under the current circumstances.

All Commissioners for Finance of the 36 States, their Accountants-General and  revenue generating agencies are expected to find a meeting point on the revenue challenges confronting the three tiers of government.

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