The Chairman of the Senate Committee on Finance, Senator Mohammed Sani Musa, has called for urgent budgetary reforms to address Nigeria’s pressing social and economic challenges.
Speaking on the sidelines of the Investors’ Forum at the ongoing IMF/World Bank Spring Meetings in Washington DC, Musa stressed the need for the country to adopt a Results-Based Budgeting (RBB) system.
According to a statement from his Media Office, Senator Musa emphasized that while monetary reforms are essential, they must be backed by far-reaching fiscal reforms to sustain the momentum of Nigeria’s economic recovery.
He specifically urged the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Budget and National Planning, Senator Atiku Bagudu, to collaborate closely to drive the transition to RBB.
The Senate Finance Committee Chairman also commended the Central Bank of Nigeria (CBN) leadership for the growing international credibility of Nigeria’s economic reform efforts. He noted that aligning fiscal strategies with monetary reforms would strengthen economic fundamentals and build lasting investor confidence.
