An economist and ministerial nominee, Olawale Edun, has said technology can be deployed not only to increase revenue generation but also reduce inefficiency in government.
Edun, who stated this Tuesday while fielding questions from Senators added that to reform the civil service, the federal government would need to computerize its entire operations.
Edun, who is a ministerial nominee from Ogun state and a former finance commissioner in Lagos state, insisted that the private sector’s role is crucial for Nigeria’s economic growth.
Citing his time in Lagos as an example of addressing economic challenges, Edun said, “There was a commitment to technology. Technology was unsparingly, ruthlessly and robustly used to fuel increase in revenue generation by blocking leakages and increasing efficiency.
“Secondly, and in the same way, there was total computerisation of the operations of government. That was civil service reforms by another name.
“There was reliance on the private sector and private investments to drive the economy. And fourth, there was efficient use of the financial market.”
Edun was optimistic that the current reforms will eventually improve the country’s fiscal regime.
“In the last two months there has been room for investment when what the federal government is doing? I assure you, there will be a continuous improvement in the fiscal regime both at the state and federal level.
“It is the desire of President Bola Ahmed Tinubu to curtail spending, to curtail inefficiency, and to stay within the law in terms of borrowing to finance government operations,” he said.
Edun, who is being taunted for the position of the finance minister, explained that Nigeria is in a position to make progress especially with the fuel subsidy removal and elimination of multiple windows in the foreign exchange market.
“However, in the several months that it will take for the benefits of the economic reforms to come through, there will be substantial economic gain. That’s why the government will ensure that the poorest, the weakest, and most vulnerable in society are protected and helped to get through that period.
“The job is not just for the federal government, the states have their roles to play, the private sector has their role to play, and individuals have their roles to play.
“The economy has been turned around and put on a positive part by the bold and courageous measures by the President, and all that remains is for us to support these measures so that we stay the course and move this country to the level of a prosperous nation which is where it rightfully belongs,” he further explained.