The Special Adviser to President Bola Tinubu on Revenue, Zach Adedeji on Channels Television’s Politics Today program on Monday, July 10, 2023, disclosed that the Federal Government is set to harmonize all revenue-collecting agencies in Nigeria.
On Monday’s Politics Today program on Channels Television, Zach Adedeji, the Special Advisor to President Bola Tinubu on Revenue, announced this.
Adedeji claimed that instead of raising taxes, the administration will deepen the country’s revenue collecting system in order to double the country’s yearly total revenue, which is currently less than N15 trillion.
Nigeria has a revenue problem, according to the President’s revenue chief, but the current administration is ready to address the issue through fiscal restraint and the harmonisation of revenue channels using technology to observe all government income-collecting institutions in real-time
“When we talk about harmonisation, we simply mean the integration of all collecting agencies so that we can track developments at NIMASA, NPA, NCC, Customs, and Federal Inland Revenue (Service) on one platform. We’ll employ technology to stay informed about everything as it happens.
Adedeji further emphasized that Tinubu has already given his approval for the standardization of all tax-collection organizations.
“We are not breaking down. Federal Inland Revenue (Service) will be, too, but the collection of all revenues will be technologically driven by data, making NNPC what it is now due to its limitations. Because there is no true legislation that specifies what they should do, there appears to be a government within the government.
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”.