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Tinubu, a financial expert, needed for Nigeria’s revenue reform – APC Chieftain

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 NAN Dr Abiola Oshodi a leading chieftain of All Progressives Congress APC says Nigeria needs as its next president a financial expert such as Sen Bola Tinubu the party s presidential candidate Oshodi the Media Director of APC Presidential Council Canada Chapter said that Tinubu as Lagos governor between 1999 and 2007 significantly increased the state s revenue and laid the foundation for its current financial stability Oshodi in a statement issued by Mr Adebola Olowo his Media Assistant on Tuesday in Akure said that voting Tinubu as the president in 2023 would address the financial challenges that Nigeria was currently facing He explained that the country s increasing debt profile occasioned by low collection of revenue was worrisome and must be tamed by the country s next president hence the need for the electorate to vote for Tinubu This is the same revenue problem that Sen Tinubu met in Lagos when he assumed office as the governor of the state a challenge that he promptly dealt with and if elected and sworn in by May 29 2023 he would also meet a revenue problem and he would be expected to deal with it he said The APC chieftain noted that government at various levels including the Federal Government had repeatedly pointed out the revenue challenges that the country was going through He said that President Muhammadu Buhari during the presentation of the 2023 budget affirmed that Nigeria s debt service to revenue ratio needed close attention According to Oshodi the Nigeria s total debt profile as at September 2022 is N41 60 trillion quoting the Debt Management Office DMO He said that the DMO Director General Mrs Patience Oniha attributed it to a shortfall in revenue Oshodi said that although the Minister of Finance Mrs Zainab Ahmed had clarified that Nigeria did not have a debt problem as it had yet to exceed its self imposed ceiling debt of GDP to debt of 40 per cent she had repeatedly said that Nigeria had indeed a revenue problem The Media Director of the APC Presidential Council in Canada stated that Tinubu was outstanding among his co contestants Of all the 18 illustrious Nigerians vying to be Nigeria s next president Sen Tinubu stands out due to his hands on experience and his impressive stewardship successfully piloting the affairs of the smallest but the most commercialised among Nigeria s 36 states When Sen Tinubu assumed office in 1999 the Lagos State Internally Generated Revenue IGR was said to be a paltry N600 million per month Today because of the restructuring innovativeness and the necessary policies and strategies that he took which successive governors his mentees built on the Lagos State annual IGR is now N753 billion according to the latest figures by the Nigerian Bureau of Statistics NBS he stated Due to the structures laid in the eight years of Sen Tinubu governorship Lagos has become among other things Nigeria s financial hub hosting more than 50 per cent of Nigeria s financial institutions and even with its Gross Domestic Product GDP accounting for 26 7 per cent of the Nigeria s GDP and more than 50 of non oil GDP he stated NewsSourceCredit NAN
Tinubu, a financial expert, needed for Nigeria’s revenue reform – APC Chieftain

Abiola Oshodi

NAN)  Dr Abiola Oshodi, a  leading chieftain of All Progressives Congress (APC), says Nigeria needs as its next president, a financial expert such as Sen. Bola Tinubu, the party’s presidential candidate.

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Media Director

Oshodi, the Media Director of APC Presidential Council, Canada Chapter, said that Tinubu, as Lagos governor between 1999 and 2007, significantly increased the state’s revenue and laid the foundation for its current financial stability.

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Adebola Olowo

Oshodi, in a statement issued by Mr Adebola Olowo, his Media Assistant, on Tuesday in Akure, said that voting Tinubu as the president in 2023 would address the financial challenges that Nigeria was currently facing.

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He explained that the country’s increasing debt profile, occasioned by low collection of revenue, was worrisome and must be tamed by the country’s next president, hence the need for the electorate to vote for Tinubu.

“This is the same revenue problem that Sen. Tinubu met in Lagos when he assumed office as the governor of the state, a challenge that he promptly dealt with and if elected and  sworn-in by May 29, 2023, he would also meet a revenue problem and he would be expected to deal with it,” he said.

Federal Government

The APC chieftain noted that government at various levels, including the Federal Government, had repeatedly pointed out the revenue challenges that the country was going through.

Muhammadu Buhari

He said that President Muhammadu Buhari during the presentation of the 2023 budget affirmed that Nigeria’s debt service to revenue ratio needed close attention.

Debt Management Office

According to Oshodi, the Nigeria’s total debt profile as at September 2022 is N41.60 trillion, quoting the Debt Management Office (DMO).

Mrs Patience Oniha

He said that the DMO Director-General, Mrs Patience Oniha, attributed it to a shortfall in revenue.

Minister of Finance

Oshodi said that although the Minister of Finance, Mrs Zainab Ahmed, had clarified that Nigeria did not have a debt problem as it had yet to exceed its self-imposed ceiling debt of GDP to debt of 40 per cent, she had repeatedly said that Nigeria had indeed a revenue problem.

Media Director of the APC Presidential Council in Canada

The Media Director of the APC Presidential Council in Canada stated that Tinubu was outstanding among his co-contestants.

“Of all the 18 illustrious Nigerians vying to be Nigeria’s next president, Sen. Tinubu stands out due to his hands-on experience and his impressive stewardship, successfully piloting the affairs of the smallest but the most commercialised among Nigeria’s 36 states.

When Sen

“When Sen. Tinubu assumed office in 1999, the Lagos State Internally Generated Revenue (IGR) was said to be a paltry N600 million per month.

Lagos State

“Today, because of the restructuring, innovativeness and the necessary policies and strategies that he took which successive governors, his mentees, built on, the Lagos State annual IGR is now N753 billion according  to the latest figures by the Nigerian Bureau of Statistics (NBS),” he stated.

Domestic Product

“Due to the structures laid in the eight years of Sen. Tinubu governorship, Lagos  has become among other things Nigeria’s financial hub, hosting more than 50 per cent of Nigeria’s financial institutions and even with its Gross  Domestic Product(  GDP) accounting for 26.7 per cent  of the Nigeria’s GDP and more than 50 of non-oil GDP,” he  stated.  

NewsSourceCredit: NAN

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