https://nextedition.com.ng/2019/01/23/breaking-fg-launches-strategic-revenue-growth-initiatives/

Minister of Finance, Mrs. Zainab Ahmed, who spoke during the launch in Abuja Wednesday, January 23, 2019, said growing the Nigerian economy has become a focal point and a priority of her Ministry.

Mrs. Ahmed also said the decision to embark on the programme by her Ministry was guided by the "issues we have outlined in this administration's Economic Recovery and Growth Plan (ERGP), which include enhancing oil and non-oil revenues, optimising capital and recurrent expenditures, the management of global and domestic fiscal risks, working with our colleagues in other economic MDAs, to closely coordinate Nigeria's fiscal, macro-economic, monetary and trade policies."

The Minister who described Nigeria's low revenue generation capabilities as a huge challenge to past and current governments, pointed out that although Nigeria was celebrated as “the country in Africa with the largest economy, translating this wealth into revenues remains a challenge.”

She stated that it has become increasingly difficult to mobilize domestic funds necessary for human capital development and infrastructure that are both drivers of sustainable economic growth, adding “our current revenue to Gross Domestic Product (GDP) ratio of about 7 per cent is unsatisfactory and we are keen on exerting all efforts in turning this around.”

Continuing she said “the case remains the same with our current contribution between oil and non-oil revenues to oil and non-oil GDP, for which our analysis on oil revenue to oil GDP reveals as 39 per cent while non-oil revenue to non-oil GDP as 4.2 per cent. Our Value Added Tax (VAT) revenue to GDP in Nigeria for example stands at less than 1 per cent (0.8 per cent), which compares unfavourably to the ECOWAS average of 3.4 per cent. So also, is our excise revenue which is 4.1 per cent, compared to Ghana at 15.3 per cent or Kenya at 19.5 per cent.

According to Mrs. Ahmed, the programme would target 99 initiatives over the Short-Term (6 months), Medium-Term (1 year) and Long-Term (2 years) based on potential impact on revenue generation, ease of implementation and implementation timeline.

"..The Minister who described Nigeria's low revenue generation capabilities as a huge challenge to past and current governments, pointed out that although Nigeria was celebrated as “the country in Africa with the largest economy, translating this wealth into revenues remains a challenge.”

So this of course still confirms that the APC again lied last year that FIRS hit an all time high of more than #5.3T, along side Customs, MDAs, among other non-oil generated revenues?

Which Nigeria being the "largest economy" while this can't translate into wealth.Thought the lying govt said investors are moving into Nigeria in droves? What about the boasting by the same APC govt that it have fulfilled all its campaign promises including steadying the economy?

Meanwhile, Ghana have long overthrown Nigeria again as the largest investor destination(FDI)
https://www.thecable.ng/ghana-overtakes-nigeria-as-west-africas-largest-fdi-recipient-in-2018 while Nigeria have also inturn become the https://nairametrics.com/2019/01/21/nigeria-ranks-last-on-surviving-on-minimum-wage-list/

The revenue Agencies are racking shattering figures of Revenues, but the government is lacking funds.

Reason:
* Inflation
* Reversed economic growth.

Implications:
* The future with these people is bleak.
* more hunger to come.

Correction:
* Vote out the incompetent lots.
* Let's try #ATIKUOBI19

Racoon:

So this of course still confirms that the APC again lied last year that FIRS hit an all time high of more than #5.3T, along side Customs, MDAs, among other non-oil generated revenues?

Which Nigeria being the "largest economy" while this can't translate into wealth.Thought the lying govt said investors are moving into Nigeria in droves? What about the boasting by the same APC govt that it have fulfilled all its campaign promises including steadying the economy?

Meanwhile, Ghana have long overthrown Nigeria again as the largest investor destination(FDI)
https://www.thecable.ng/ghana-overtakes-nigeria-as-west-africas-largest-fdi-recipient-in-2018 while Nigeria have also inturn become the https://nairametrics.com/2019/01/21/nigeria-ranks-last-on-surviving-on-minimum-wage-list/

See peak ignorance, what is 5.3 Trillion naira compared to the needs of Nigeria? Is that the level of revenue we should stay put at?
The 2018 budget of Ghana a country of 30 million people is equivalent of 5 trillion naira while almighty Nigeria is scrounging to find money to finance it's 9 trillion budget for 180 million people.

For us to budget at the level of Ghana we must find 33 trillion yearly to spend on each Nigerian the way Ghana is spending.
We don't want a government that will stay at 5.3 trillion and leave the money in pockets of fat cats, billionaires, and government friends to the detriment of out of school children, poor masses, and country hungry for investments to spur growth

Ovamboland:




See peak ignorance, what is 5.3 Trillion naira compared to the needs of Nigeria? Is that the level of revenue we should stay put at?
The 2018 budget of Ghana a country of 30 million people is equivalent of 5 trillion naira while almighty Nigeria is scrounging to find money to finance it's 9 trillion budget for 180 million people.

For us to budget at the level of Ghana we must find 33 trillion yearly to spend on each Nigerian the way Ghana is spending.
We don't want a government that will stay at 5.3 trillion and leave the money in pockets of fat cats, billionaires, and government friends to the detriment of out of school children, poor masses, and country hungry for investments to spur growth

It would have being something if;
1. Economic growth wasn't 2%
2. Inflation wasn't 12%
3. Over 680bn wasn't taken out by foreign investors due to poor policies.
4. If Naira exchanged for at least 180 to a dollar

Nice one from FG