Austerity: Ex-CBN director advises Tinubu to reduce cost of governance
Titus Okunrounmu, a former Central Bank of Nigeria (CBN) director, has advised President Bola Tinubu’s government to reduce the cost of governance to stem the country’s debt profile.
Mr Okunrounmu, who gave the advice Thursday in an interview in Ota, Ogun, described the list of ministerial portfolios on Wednesday as over-bloated for a country with a huge debt profile.
According to him, funding the nation’s recurrent budget with borrowing does not need many ministers and bloated special assistants, which inevitably must allow for allowances and official vehicles.
“These excess baggage was not projected for in the 2023 federal budget and the revenue estimates could not cover the recurrent budget,” stated Mr Okunrounmu. “In addition, the federal government needs financial discipline to curb corruption in the ministries, departments and agencies (MDAs) to reduce debt profile in the country.”
Mr Okunrounmu advised the Tinubu government to redouble its efforts and work against policy somersault to encourage an influx of foreign investors into the country.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Uncategorized
2027: APC governorship candidate says opposition politicians only after Ogun treasury
President of the Council of Iyalajes and Babaalajes in Remoland, Olufunke Oyelaja, pledged the group’s support for Mr Adeola’s governorship bid.
Heading 2
Ooni of Ife pays tribute to late elder brother, says his death created irreplaceable vacuum
The monarch prayed for the departed soul to rest in peace and for comfort for his immediate family, friends, business associates and everyone whose lives he impacted.
Africa
Information minister congratulates Ibietan on re-election as APRA scribe
Mr Idris described Mr Ibietan’s re-election as a well-deserved recognition of his professionalism.
States
Niger governor donates N100 million to IBBU’s College of Medicine, 41 pioneer medical students
Mr Bagana stated that the 41 pioneer medical students of the institution comprised 21 males and 20 females.
Politics
2027: Minister vows to mobilise one million votes for Tinubu, Radda in Katsina
Mr Rabe-Darma vowed to mobilise over one million votes for President Bola Tinubu and Governor Dikko Radda ahead of the 2027 elections.
Heading 5
Mamdani considers arresting Israeli PM Netanyahu if he visits New York
Mr Mamdani said his administration’s legal department is weighing the option of arresting the Israeli leader as determined by the law.
