BREAKING: Presidency Speaks On Tinubu’s Readiness To Work With National Assembly On Reducing Govt Spending

BREAKING: Presidency Speaks On Tinubu’s Readiness To Work With National Assembly On Reducing Govt Spending

The Presidency has affirmed that President Bola Tinubu is ready to collaborate closely with the National Assembly to curtail government spending.

Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, made this statement during an appearance on Channels Television’s “Sunrise Daily” on Monday.

Ngelale emphasized that the President is determined to streamline federal expenditures and achieve a reduction in the overall cost of governance.

He explained, “The President is working hand in hand with the National Assembly to see how we can also bring down the level of expenditure within the National Assembly, both on the books and off the books.”

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He clarified that the term “off the books” referred to a history of the National Assembly initiating projects within Ministries, Departments, and Agencies (MDAs) that might not align with their core functions. The President’s objective is to rectify this situation.

Ngelale also acknowledged that while enhancing revenue is a significant priority for the government, it won’t yield immediate results. He stated, “Increasing revenue is a top-line priority on his table, but it is not a one-strike solution.” He further outlined that addressing issues of expenditure duplication within ministries and agencies is one of the ways the President plans to optimize financial management.

Ngelale’s comments resonated with President Tinubu’s recent sentiments. The President had remarked on Sunday that the country cannot sustain the practice of servicing debts with approximately 90 percent of its revenue. To achieve positive change, Tinubu expressed his commitment to making necessary adjustments, even if initial reforms might be challenging.

In pursuit of the nation’s betterment, Tinubu stressed the importance of being willing to take difficult steps and set Nigeria on a trajectory of growth. This approach aligns with his goal to create a more economically viable and sustainable future for the country.