The Director-General, Debt Management Office, Ms Patience Oniha, has called on the need for Nigeria to operate efficient tax administration in tackling revenue challenges.
Recall that the current revenue problem is compounded by leakages such as an increase in oil theft and petrol subsidy, both of which has significantly reduced the revenue from oil sales that used to account for the bulk of government revenue.
Oniha noted that the outlook of both the local and international markets was becoming tighter with rising interest rate. She, therefore, stressed the need for the country to urgently moderate its new borrowings and ensure that public debt is sustained by accelerating its revenue base to shore up non-oil revenue and rationalising expenditure.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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