The Federation Account Allocation Committee (FAAC) meeting, held in Bauchi State as part of the 2024 NACOFED Conference, brought together key policymakers and stakeholders to discuss strategies for addressing Nigeria’s economic challenges.
According to a post from the Federal Ministry of Finance X handle on Monday, the conference, themed “Fostering Economic Growth in Challenging Times,” highlighted the administration’s bold economic reforms aimed at stabilizing the economy, driving inclusive growth, and improving the quality of life for Nigerians.
In his address, Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, emphasized the redirection of resources that previously drained public funds. He noted that President Bola Ahmed Tinubu’s administration is prioritizing investments in critical sectors such as infrastructure, education, healthcare, and social services.
These measures are part of a comprehensive strategy to alleviate poverty and uplift millions of Nigerians over time.
Governor Bala Mohammed commended the Federal Government’s vision and reiterated Bauchi State’s commitment to playing a pivotal role in Nigeria’s economic transformation. “This gathering underscores the importance of unity and shared responsibility as we work toward sustainable development,” he stated.
The conference explored opportunities for fostering partnerships across all levels of government and leveraging private sector investment to spur job creation and industrial growth.
Collaboration and trust-building were emphasized as essential tools for addressing Nigeria’s fiscal and economic challenges. The FAAC meeting is expected to produce actionable strategies that address fiscal challenges while advancing Nigeria’s broader development goals.
