Tuesday, September 27, 2022

EU to assist Nigeria in governance, finance reforms

“Reforms encourage transparency, accountability, fair and efficient distribution of resources and help countries make the most of their human and economic potentials.”

• August 17, 2022
Samuela Isopi (Credit: MSN)
Samuela Isopi (Credit: MSN)

The European Union (EU) on Tuesday said it was committed to supporting Nigeria’s reforms at the federal and state levels.

EU ambassador to Nigeria and ECOWAS Samuela Isopi said this in Abuja at the United States Agency for International Development (USAID) State2State inaugural Policy Dialogue Series, with the theme ‘Post-State Fiscal Transparency, Accountability, and Sustainability (SFTAS): Incentivising Reforms’.

The ambassador, represented by the EU’s head of cooperation, Cecile Tassin-Pelzer, said reforms were integral to government and institutions.

She added that the reforms had no end as countries need to adapt constantly to the changing dynamics of socio-economic and geo-political circumstances.

According to her, the same goes for organisations such as the EU, which drives reforms at home and promotes them beyond its borders.

“At their core, reforms encourage transparency, accountability, fair and efficient distribution of resources and help countries make the most of their human and economic potentials. For Nigeria, reforms are important in order to capitalise on the country’s many endowments, mineral resources, and human capital, which is especially represented by its young population, diverse land and water resources, digital and creative drive, and leading economic and political position on the continent,” said Ms Isopi.

She added, “This is why EU stands by Nigeria, assisting the reforms at both federal and state levels in the design and implementation of policies, strategies and regulations. As well as helping to enhance the capacity of institutions that implement them.”

The envoy explained that some other projects in Nigeria concentrated on key systemic issues with support from the United Nations Development Programme and International Monetary Fund.

“To the Integrated National Financing Frameworks (INFF), which will help Nigeria finance the achievement of the SDGs in the most efficient way. Another state-level example is our support for public finance management, currently being implemented in Borno and Yobe. Importantly, our projects support good governance, peace, and stability or the electoral process,” she further stated.

(NAN)

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