The Federal Government of Nigeria plans to harmonize various revenue-collecting agencies in a bid to optimize operations and increase overall revenue generation.
This development was disclosed by Zach Adedeji, the Special Adviser to President Bola Tinubu on Revenue, during an interview on Channels Television’s Politics Today program.
Adedeji emphasized that the government aims to double the current annual revenue, which falls below N15 trillion, by implementing a robust revenue collection system, leveraging technology to monitor all government revenue-collecting agencies in real-time.
The focus will be on enhancing fiscal discipline and integrating revenue channels to address Nigeria’s existing revenue challenges.
Citing the Nigerian Constitution’s Section 162, Adedeji highlighted the requirement to deposit all government revenue into the Federation Account.
Harmonization, as he clarified, entails the integration of collecting agencies onto a single platform. This integration will enable a comprehensive view of operations in agencies such as NIMASA, NPA, NCC, Customs, and the Federal Inland Revenue Service (FIRS), using technology as a means to ensure real-time transparency.
Adedeji made it clear that the Tinubu administration does not intend to dissolve key revenue-generating bodies like NNPC Limited, FIRS, NIMASA, or the Nigeria Customs Service.
Instead, the government will employ technology to integrate these agencies, enabling effective monitoring of revenue and eliminating any form of parallel governance.
Furthermore, Adedeji underscored that Tinubu has already granted approval for the harmonization of all revenue-collecting agencies.
He assured that NNPC will retain its distinct identity as a limited company, while revenue collection will undergo a technological transformation driven by data.
The move aims to address the absence of a concrete legal framework governing these agencies, thereby streamlining their activities.
Adedeji also noted that the removal of petrol subsidy and the unification of foreign exchange rates have rectified economic distortions. He expressed confidence that Nigerians will soon experience the benefits of these measures, leading to shared prosperity across the nation.