CITN Supports Finance Minister Oyeleke's Reform Agenda

Dr. Titilayo Fowokan, representing the Chartered Institute of Taxation of Nigeria (CITN), has expressed support for the newly appointed Finance Minister Taiwo Oyeleke.

She outlined critical reform targets necessary for Nigeria's economic stabilization, including the restoration of macroeconomic stability, increasing non-oil revenue, and enhancing public spending efficiency. Fowokan emphasized the importance of revenue mobilization, addressing Nigeria's low tax-to-GDP ratio, and rationalizing tax incentives to combat revenue shortfalls.

She also called for expenditure rationalization through zero-based budgeting and improved procurement transparency. Furthermore, Fowokan urged stronger coordination in debt management and a shift towards long-term financing solutions.

She highlighted the need for the government to look beyond oil dependency, promoting sectors such as agriculture, manufacturing, and the digital economy, while also supporting public-private partnerships and small-medium enterprises. Acknowledging the social costs of reforms, she stressed the importance of targeted cash transfers to protect vulnerable populations.

Fowokan underscored the urgency of these measures to earn public trust and drive transparency within 100 days.