National Assembly
Create Revenue Ministry to boost savings, Sen Ibrahim advises Tinubu
Jimoh Ibrahim
As President Bola Tinubu awaits the confirmation of his 48 ministerial nominees to form his cabinet, the Senator representing Ondo South Senatorial District of Ondo State, Jimoh Ibrahim, has called for the creation of the Ministry of Revenue with a view to further boosting the revenues being generated in the country and effective coordination of the federal government agencies involved.
Senator Ibrahim gave President Tinubu the advice on the need to create the new ministry, penultimate week when he visited him at the Presidential Villa, Abuja.
The lawmaker, in a personally signed statement issued on Sunday, explained that the ministry, when established, would serve as coordinating platform for all revenue generating agencies.
According to Senator Ibrahim, the proposed ministry is indispensable for the nation to wangle its way out of the current socio-economic quagmire.
He said: “There are many revenue generating agencies in Nigeria today without a coordinating body or platform.
“The Ministry of Finance is not giving the required mobilisation and coordination in this regard, hence, the need for Ministry of Revenue.
“Analogically, in Nigeria over the years, we have the Ministry of Finance more or less playing the role of Bursar disbursing all the monies remitted into national coffers by the generating agencies, but there is no Treasurer to keep proper records of revenues generated by the various affected agencies and give them the required impetus to generate more.
“Nigeria definitely needs a national treasurer to be symbolised by the Federal Ministry of Revenue when created.”
The lawmaker disclosed that the idea has been sold to President Tinubu, who according him, saw the need for it in line with his pedigree on improved revenue generation.
Senator Ibrahim further posited that the Ministry of Revenue, when created, would serve as one of the strategies through which the nation’s debt could be defrayed by serving as a window for improved revenue generation to fast-track the nation’s development.
“The nation’s debts of N77 trillion shouldn’t be a cause for worry considering the current debt to the Gross Domestic Product ratio of less than 31 percent and required innovative ideas of defraying it,” he added.
Contact: info@royalnews.com.ng