'There are many revenue-generating agencies in Nigeria today without a coordinating body or platform'
“Analogically, in Nigeria over the years, we have the Ministry of Finance more or less playing the role of Bursar disbursing all the monies remitted into national coffers by generating agencies but there is no Treasurer to keep proper records of revenues generated by the various affected agencies and give them the required impetus to generate more.”
“Nigeria definitely needs a national treasurer to be symbolised by the Federal Ministry of Revenue when created,” he noted. He added that the idea has been sold to President Bola Tinubu who according to him, saw the need for it in line with his pedigree on improved revenue generation. The Ondo nominee posited further that the Ministry of Revenue when created, would serve as one of the strategies through which the nation’s debt could be defrayed by serving as a window for improved revenue generation to fast-track the nation’s development.
“The nation’s debts of N77trn shouldn’t be a cause for worry considering the current debt to Gross Domestic Product ratio of less than 31 percent and required innovative ideas of defraying it,” he added.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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