Nigeria's Poverty Challenge Despite Fiscal Expansion and Reforms

Taiwo Oyedele, chairman of the Presidential Fiscal Policy Tax Reform Committee (PFPTRC), discussed the challenges of poverty in Nigeria despite fiscal expansion and recent economic reforms. The BudgIT report revealed a significant increase in combined revenue for states, but this has not translated into improved living standards for ordinary Nigerians.

Oyedele emphasized the need for social prosperity alongside macroeconomic growth. The report also indicated growth in VAT revenue and state shares, with Lagos leading in IGR growth.

CBN's efforts to normalize policies were noted as crucial for attracting capital back to the economy.