FG will double government revenue without imposing additional taxes – Adedeji, SA

Special Advisor to President Bola Tinubu, Revenue, Zach Adedeji revealed that the administration plans to increase Nigeria's revenue without imposing additional taxes.

As part of achieving this feat, Adedeji also disclosed that the Tinubu administration will unify revenue collection agencies such as the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service.

Adedeji explained during a live interview with Channels TV "Politics Today", that with annual revenues currently below 15 billion naira, the current administration needs to increase the nation's revenues not by taxation, but tackling indiscipline in national spending and technological oversight of revenue collection when agencies such as FIRS and Nigerian Customs are harmonised.

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

"When we talk about harmonization, we just say the integration of all the collection agencies, that on a single platform, we can know what is happening in NIMASA, NPA, NCC, Customs, Federal Inland Revenue (Service)... We will use technology to know everything that is happening in real time.”

He also said that the removal of petrol subsidies and the unification of exchange rates had removed the "distortion we have in our economy", saying that Nigerians would soon begin to see "the boon that , I know will bring shared prosperity to all Nigerians.”

Recall that President Bola Tinubu recently approved the creation of a Presidential Committee on Fiscal Policy and Tax Reforms in line with his promise to remove all obstacles that hinder business growth in the country.