Local governments key to economic reforms, says Oyedele

By Abubakar Yunusa

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said local governments remain critical to the success of Nigeria’s ongoing economic and fiscal reforms.
Oyedele stated this on Thursday during a one-day stakeholders’ engagement with local government chairmen in Abuja with the theme, “Strengthening Local Government Leadership for Inclusive Development and Social Protection Delivery.”
Speaking virtually at the event, the minister said national economic policies would only become meaningful when they positively impact communities, vulnerable citizens, women, youths, farmers and artisans at the grassroots.
According to him, local governments represent the closest level of government to the people where poverty, vulnerability and welfare provision are most visible.
He said, “No matter how strong national policies may appear, they only become meaningful when they reach communities, households, women, youths, farmers, artisans and vulnerable citizens.
“That is why social protection leadership is not merely a legislative objective; it is a national development imperative.”
Oyedele explained that the Federal Government was implementing major economic and fiscal reforms aimed at stabilising the economy, restoring investor confidence and improving the quality of life of Nigerians.
He, however, stressed that economic reforms could only succeed when they are inclusive.
“Economic stability without social protection creates exclusion. Growth without local inclusion widens inequality. That is why inclusion and social protection are not optional; they are essential pillars of our economic agenda,” he added.
The minister described social protection as sound economic policy capable of reducing poverty, improving access to healthcare and education, and strengthening local economies.
He also highlighted the importance of credible data in implementing effective social intervention programmes.
Oyedele said the integration of the National Social Register with the National Identification Number framework would help government accurately identify vulnerable citizens and improve intervention delivery.
He further disclosed that reforms affecting local governments were designed to address inefficiency, weak compliance and fragmented revenue administration.
According to him, the reforms would improve transparency, simplify taxation and ensure better value for public resources.
“Fiscal reform is not just about revenue collection. It is about creating fiscal space for affordable healthcare, quality education, productivity-enhancing infrastructure and social protection,” he said.
The minister urged local government leaders to embrace accountability, innovation and transparency in governance, noting that citizens now demand tangible results from government at all levels.
He also called on council chairmen to prepare medium-term development plans, make financial information accessible to citizens and ensure inclusive development for women, persons with disabilities and vulnerable groups.
Oyedele maintained that Nigeria’s future would largely depend on the effectiveness of local governments in translating national reforms into real development outcomes.
“If local governments become stronger, more accountable and more focused on development, then inclusive growth will no longer remain a slogan but will become a living reality for millions of Nigerians,” he said.