Wale Edun, The minister of Finance and Coordinating Minister of the Economy said the Federal Government is aiming to increase the internal generated revenue by 77 percent.
This was stated by Edun on Wednesday, 24th of January, at the Abuja opening of the 2024 strategic Management Retreat of the Federal inland Revenue Service
According to the minister, taxes play an integral role in the government’s quest to strengthen revenue, which will help bridge the infrastructure gap and build social safety nets that will take off the citizens.
He applauded the management of the FIRS for its commitment to meeting its set revenue target.
“It is commendable that the FIRS is holding this retreat at the beginning of the year to rub minds on how to increase government revenue. We are projecting a 77 per cent increase in IGR. Our revenue as a percentage of Gross Domestic Product is low, below 10 per cent. It should be much higher.”
“The government needs so much to spend on infrastructure and social services. The idea is to shift from expensive debts to domestic revenue Mobilisation”, he said.