FG Targets 77 per cent Increase in IGR – Edun

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced on Wednesday in Abuja that the Federal Government aims to achieve a 77% surge in internally generated revenue.
Wale Edun
Wale Edunthe cable

Edun made this declaration during the commencement of the 2024 Strategic Management Retreat of the Federal Inland Revenue Service.

In his address, the minister emphasized the crucial role of taxes in the government's efforts to bolster revenue. This increase in revenue, he explained, would contribute to narrowing the infrastructure gap and establishing social safety nets for the well-being of the citizens.

Edun commended the FIRS management for their dedication to reaching their prescribed 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.

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