FG to double govt revenue without imposing extra taxes– Adedeji, SA Revenue

President Bola Tinubu’s special adviser, Revenue, Zach Adedeji has disclosed that the administration plans to increase Nigeria’s revenue without imposing extra taxes.

As part of the part to achieve this feat, Adedeji also revealed that Tinubu’s administration will unify revenue-collecting agencies like the Federal Inland Revenue service (FIRS), and Nigeria Customs Service.

Adedeji explained while appearing on a live interview with Channels TV ‘Politics Today,’ that with the annual revenue that is currently less than N15trn, the current administration needs to increase the nation’s revenue not through taxation but by addressing indiscipline in national spending and technologically monitoring revenue collection when agencies like FIRS and Nigerian customs are  harmonised.

Adedeji explains: “The law is very clear as to how to collect revenue. In Section 162 of the Nigerian Constitution, it is clearly stated that there shall be an account called the Federation Account and all government revenue must be put into that account.

“When we talk about harmonisation, we are just saying integration of all collecting agencies, that on one platform, we can know what is happening in NIMASA, NPA, NCC, Customs, Federal Inland Revenue (Service)…We will make use of technology to know everything going on in realtime.”

He also said the removal of petrol subsidy and the unification of foreign exchange rates has removed the “distortion we have in our economy”, saying Nigerians would soon begin to see the “windfall which I know will bring shared prosperity for all Nigerians”.

Recall that President Bola Tinubu  recently approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms in consonance with his promise to remove all barriers impeding business growth in the country.