FG to Boost Revenue Via Strategic Revenue Growth Programme

The Federal Government is set to launch Strategic Revenue Growth Programme (SRGP) with a view to boosting its revenue so that it can better fund its annual budgets.
Minister of Finance, Mrs. Zainab Ahmed, who revealed this during an interactive session in Lagos with media executives last weekend, said the objective of the programme is to increase government revenue exponentially, and hedge against revenue shortfall pressures.
According to Mrs. Ahmed, the SRGP which will be launched in Abuja this Wednesday, will target 99 initiatives over the Short-Term (6 months), Medium-Term (1 year) and Long-Term (2 years) based on potential impact on revenue generation, ease of implementation and implementation timeline.
Mrs. Ahmed said the programme will focus on three thematic areas: Achieving sustainability in revenue generation, identifying new and enhancing the enforcement of existing revenue generation streams, and achieving cohesion in the revenue ecosystem.
Throwing more light on the programme, the Minister listed Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS) and Office of the Accountant General of the Federation as the focal government agencies for the programme.
According to her, in line with the objectives of the programme, FIRS is expected to grow the country’s tax base, improve collections with existing tax base, counter tax evasion and enshrine cultural change on payment of taxes by citizens, while the NCS Will have the responsibility of improving duties collection, establish new customs revenue streams, develop platforms that will drive collections efficiency and collaboration between trade actors and leverage data and technology.
On the other hand, she said, Office of the Accountant-General of the Federation will work towards improving government’s liquidity, de-risk the current monopoly of service provision of the payment gateway of the Federation and also ensure value for money with regards to the operation of the Treasury Single Account (TSA) reforms.

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