The federal government has revealed its ambitious goal of achieving a 77 percent increase in internally generated revenue (IGR).
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, revealed this while speaking at the 2024 Strategic Management Retreat of the Federal Inland Revenue Service (FIRS) in Abuja, themed: ‘Re-imagining Tax Administration for Equity and Economic Growth’.
He emphasised the crucial role taxes play in fortifying government revenue. While acknowledging the FIRS’s dedication to meeting revenue target.
Mr. Edun commended the initiative to strategise early in the year for revenue enhancement.
He stressed the significance of higher revenue percentages, aiming to surpass the current level, which is below 10 percent of the gross domestic product (GDP).
The Honourable Minister highlighted the government’s need to shift from costly debts to domestic revenue mobilisation to fund essential infrastructure projects and social services, benefitting ordinary Nigerians.
