By Amin Kef <\/b><\/p>\n
Africa-Press – Sierra-Leone. <\/strong><\/span>In a historic move at the 2024 budget preparation hearing, Dr. Turad Senesie, the Minister of Lands, Housing, and Country Planning, revealed an innovative financing strategy that has the potential to inject over 100 billion Leones into Government coffers, marking a significant shift towards self-sufficiency.<\/p>\n At the Ministry of Finance Conference Hall on Wednesday, October 18, 2023, Minister Senesie presented a bold proposal aimed at reducing the Ministry\u2019s dependence on Government subvention. Instead, he advocated for his Ministry to retain a substantial 30% of the revenues it generates to fund its administrative and operational needs.<\/p>\n This revolutionary strategy is projected to contribute a staggering 119,850,000,000 Leones (One Hundred and Nineteen Billion, Eight Hundred and Fifty Million Leones) to the Government\u2019s revenue stream. These funds would serve as a catalyst for various development projects and essential social services in Sierra Leone.<\/p>\n During the budget hearing, Minister Senesie highlighted the Ministry of Lands\u2019 recent accomplishments. Despite facing challenges such as staffing shortages, a lack of vehicles and machinery, and an inadequate operational budget, the Ministry managed to raise a commendable 38.9 billion Leones in revenue from January to August 2023. Since assuming office in 2022, the Minister\u2019s reforms aligned with the President\u2019s agenda have led to an additional 19 billion Leones generated.<\/p>\n These figures underscore Minister Senesie\u2019s unwavering commitment to driving sustainable growth in the lands sector. By enhancing revenue generation and implementing strategic reforms, the Ministry of Lands has been a pivotal contributor to the nation\u2019s development.<\/p>\n Minister Senesie acknowledged that his Ministry\u2019s success is a result of resourcefulness and a relentless determination to overcome obstacles, even with limited resources. He commended his dedicated team for their exceptional performance and unwavering dedication.<\/p>\n If approved, the proposed financing strategy will empower the Ministry of Lands to operate autonomously and generate substantial revenue for the Government. These retained funds will not only support essential administrative and operational functions but also enable the acquisition of necessary resources, facilitating the Ministry\u2019s spearheading of vital development initiatives.<\/p>\n Beyond revenue generation, the Ministry of Lands has ambitious plans, including digitization efforts and robust sector planning. These initiatives are geared toward enhancing efficiency, transparency, and accessibility within the lands sector, ultimately benefiting citizens and promoting sustainable economic growth in alignment with the President\u2019s Big Five Agenda.<\/p>\n Dr. Turad Senesie, the Minister of Lands, Housing, and Country Planning, eagerly anticipates the approval of this groundbreaking financing strategy, which promises to unlock significant potential and further enhance the Ministry\u2019s contribution to the nation\u2019s development.<\/p>\n Deputy Minister of Finance, Bockarie Kalokoh, praised the Ministry of Lands and its accomplishments, particularly in revenue generation, during the ongoing FY2024 bilateral budget discussions. He encouraged the Ministry to continue its outstanding work and assured Minister Senesie that the Ministry of Finance\u2019s technical team would thoroughly review the proposal for a thoughtful decision.<\/p>\n For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" By Amin Kef Africa-Press – Sierra-Leone. In a historic move at the 2024 budget preparation hearing, Dr. Turad Senesie, the Minister of Lands, Housing, and Country Planning, revealed an innovative financing strategy that has the potential to inject over 100 billion Leones into Government coffers, marking a significant shift towards self-sufficiency. At the Ministry of […]<\/p>\n","protected":false},"author":84,"featured_media":23854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[291,293,292],"class_list":["post-23855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\n