CSOs tasks Tinubu on sustainable economic growth

Civil Society Organizations within Nigeria have tasked President Bola Tinubu with the responsibility of formulating policies that can drive inclusive and sustainable economic growth in the country.

During a press conference held in Abuja, Mr. Adesina Oke, a representative of the Civil Society Legislative Advocacy Centre (CISLAC) and the spokesperson for various Civil Society Organizations (CSOs), made this announcement.

According to Oke, the event titled “The Masses and the Economic Challenges: Finding Solutions” was inspired by a collaborative communique released following a roundtable discussion organized by the collective of CSOs.

He explained that the primary goal was to urge Nigerians, both at home and abroad, along with supportive individuals within the global community, to join forces in shaping an economic path for the incoming government, given the current economic challenges.

Regarding eradicating poverty in the country, Oke pointed out that it was essential for government Ministries, Departments, and Agencies (MDAs) to expeditiously roll out sector-specific initiatives to address the mounting poverty challenges across the nation.

Accordingly, he said there was a need to introduce appropriate technology to ensure that all payments of Value Added Tax, especially at the retail end, were automatically swept into the coffers of the government while reconciliations would come either monthly or quarterly

In his opinion, the government needs to broaden the tax base while keeping tax rates steady. Addressing revenue leaks and attracting high-net-worth individuals into the tax framework should also be pursued.

He said,

In an earlier address yesterday, President Tinubu reiterated his commitment to ending poverty in the country, saying that he sees no reason why the nation should be poor.

Furthermore, he said Nigerians are hardworking people, and he is determined to make sure that Nigeria becomes a better country than it is today.

He said,

Continuing, he said he is prepared to pilot the affair of the country into a new dawn, and there is no room for excuses in his administration.

He said,

According to the Nigeria Bureau of Statistics (NBS), Nigeria has 40.1% of people living in poverty. In addition, the national monetary poverty line shows that 63% are multidimensionally poor according to the National MPI 2022.

However, Tinubu has taken policy initiatives to tackle poverty since the emergence of his administration.

Policies such as the removal of subsidies as well as the liberalization of the FX are reported to have structural effects on the economy in the long term and move many Nigerians out of poverty.