How FG Will Double Annual Revenue Without Increasing Taxes – Tinubu’s Aide Reveals

Government to Double Nigeria’s Annual Revenue by Enhancing Collection System, Says Tinubu’s Special Adviser

Zach Adedeji, the Special Adviser to President Bola Tinubu on Revenue, has revealed that the Nigerian government aims to double the country’s total annual revenue, currently below N15 trillion. Adedeji emphasized that this increase will not be achieved through imposing additional taxes but by deepening the nation’s revenue collection system.

During an appearance on Channels Television’s Politics Today program, Adedeji highlighted the government’s plan to simplify and strengthen the revenue collection process using data and technology. The goal is to enhance efficiency and drive revenue growth without burdening citizens with extra tax obligations.

Adedeji also addressed the need for harmonization of all revenue-collecting agencies, emphasizing that the Federal Government intends to streamline these entities. Multiple taxes and the presence of various generation and collection agencies have been identified as obstacles to revenue generation. To overcome these challenges, the administration aims to leverage technology to monitor all government revenue-collecting agencies in real-time.

Furthermore, Adedeji emphasized the government’s commitment to formulating and implementing sound economic policies and laws that promote prosperity for all. He acknowledged that many of Nigeria’s existing tax laws are outdated and stated that the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele, will review and update the laws to align with current economic realities.

Adedeji acknowledged the current economic hardship caused by the removal of petrol subsidy but assured Nigerians that the initial pain and inflation would be temporary. He expressed confidence that under the leadership of President Tinubu, the nation would experience shared prosperity. Adedeji also highlighted the removal of petrol subsidy and the unification of foreign exchange rates as measures that would address economic distortions and ultimately benefit all Nigerians.

The philosophy of the government, as outlined by Adedeji, is to focus on taxing prosperity and consumption rather than burdening the poor and hindering production. He conveyed his sympathy for the challenges faced by Nigerians and expressed optimism that they would soon witness positive changes and improvements under the Tinubu administration.