We need to cut down cost of governance to improve infrastructural development - Gbajabiamila

Speaker of the House of Representatives, Femi Gbajabiamila, has stated that the country will have to cut down cost of governance, improve internal revenue generation in order to build the infrastructure of opportunity that is required to lift Nigerians out of poverty.

According to Gbajabiamila, Nigeria is facing a fiscal crisis and the reduction in the cost of governance will improve internal revenue generation in order to build the infrastructure required to lift millions of Nigerians out of poverty.

The speaker disclosed this at the beginning of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) revenue considerations with revenue-generating agencies.

Gbajabiamila further stated that revenue-generating agencies have a role to place in helping Nigeria increase its revenue base.

However, he decried that there has been a consistent failure to adhere to the revenue remittance agreements to which many of these agencies have committed.

He went on to note that the legislature is backed by law to ensure the country’s resources are used judiciously for the betterment of the masses.

He said: “We have a responsibility to act with urgent determination to build the infrastructure of opportunity that is required to lift millions of our fellow citizens out of poverty.”

“Therefore, we need to impose deep cuts in the cost of governance and improve internal revenue generation and collection so that we can free up resources that can then be deployed to fund policy initiatives that will enhance the lives of our people.”