Ondo senator seeks establishment of revenue ministry

The senator representing Ondo South in the National Assembly, Jimoh Ibrahim, has called for the creation of Ministry of Revenue to serve as a coordinating platform for all revenue-generating agencies. This came ahead of federal cabinet formation with assignment of portfolios to the 48 ministerial nominees awaiting Senate’s confirmation. In a statement on Sunday, Ibrahim […]

The senator representing Ondo South in the National Assembly, Jimoh Ibrahim, has called for the creation of Ministry of Revenue to serve as a coordinating platform for all revenue-generating agencies.

This came ahead of federal cabinet formation with assignment of portfolios to the 48 ministerial nominees awaiting Senate’s confirmation.

In a statement on Sunday, Ibrahim said the establishment of the ministry had become imperative for the country to wangle its way out of the current socio-economic quagmire.

“There are many revenue-generating agencies in Nigeria today without a coordinating body or platform.

• Charity support: Zulum grants N80m to Guwori Islamic Academy
• Tinubu’s cabinet: Oil-producing areas demand Niger Delta affairs portfolio

The Ministry of Finance is not giving the required mobilisation and coordination in this regard, hence the need for Ministry of Revenue.

“Nigeria definitely needs a national treasurer to be symbolised by the Federal Ministry of Revenue when created,” he said.

The lawmaker said 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 N77trn shouldn’t be a cause for worry considering the current debt to Gross Domestic Product ratio of less than 31 per cent and required innovative ideas of defraying it,” he added.