President Bola Tinubu’s economic reforms, which have resulted in increased revenue and reduced debt, have received praises from the Community of Practice, consisting of the commissioners for budget and economic planning of the 36 states of the federation.

“We note the significant increase in revenues accruing to states and local governments and debt reduction resulting from the positive impact of the federal government’s economic reforms,” they stated in the communiqué from the 18th CoP meeting released on Wednesday.

“We, therefore, commend the federal government for its bold economic reforms that have positively impacted revenue accruing to the sub-nationals,” they added.

The meeting, which took place in Umuahia, the capital of Abia State, addressed various topics, including local government autonomy, the significance of good governance, and sustainable national development.

It also emphasised the necessity for collaboration among different tiers of government to enhance planning and implementation at the local level.

The commissioners also discussed the importance of promoting dialogue and knowledge sharing among policymakers, planners, and budget officers and the significance of fiscal, administrative, and political autonomy for local governments in achieving transparency, accountability, and efficient service delivery.

Noting that the increment has expanded the fiscal space for subnational governments to provide more infrastructure for the people’s benefit, the commissioners urged them to capitalise on the growing revenue to invest in critical sectors that will broaden economic activities and enhance productivity, particularly at the local government and ward levels.

The CoP members acknowledged last year’s Supreme Court judgment granting financial and political autonomy to local governments. Still, they advised that it should be viewed as an opportunity to design a governance framework that would enable the councils to be more effective in delivering their mandates.