Experts Want FG To Reduce Cost Of Governance

• In order to strengthen the economy, the Federal Government has been urged to ensure that the cost of governance is significantly reduced and leakages in the system curbed.
• This was the thrust of discussion of economic experts at a roundtable organised by account, audit and tax firm, SIAO  which held in Lagos recently.
• Managing Director Financial Derivatives Company Limited, Bismarck Rewane said that to revive the economy, the President Muhammadu Buhari-led administration should re-organise security, increase borrowing to finance fiscal gap, reduce administrative cost of governance and ensure passage of the petroleum industry bill (PIB) to unlock investment opportunities.

“Strategic response of the government should include diversifying from oil, trade liberalisation and regulation, simplifying tax administration and reducing tax evasion as well as aligning personal values with those of the party and legislature which is crucial,” he said.