The Federal Government has launched a comprehensive revenue recovery exercise aimed at boosting inflows into the Federation Account.
As part of the initiative, more than 50 consultants have been inaugurated to identify and recover unremitted revenues across key sectors of the economy.
The exercise, which is being jointly coordinated by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and the Federal Inland Revenue Service (FIRS), is expected to be completed within six months.
Speaking at the inauguration of the consultants at the RMAFC headquarters in Abuja on Monday, Chairman of the RMAFC, Dr. Mohammed Bello Shehu, said the move reflects the Commission’s determination to strengthen fiscal governance and ensure that all revenues due to the Federation are properly accounted for and remitted.
According to him: “This exercise is not a routine administrative action but a deliberate, result-oriented innovation designed to strengthen fiscal governance and ensure every recoverable naira due to the Federation is transparently remitted.”
Shehu explained that the engagement of consultants was a strategic decision designed to plug revenue leakages, enhance transparency, and improve the fiscal capacity of the three tiers of government.
He added that the initiative aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
“In line with the constitutional responsibility of the Commission, and with the full support of Mr. President and the Special Adviser to the President on Revenue, as well as the Executive Chairman of the FIRS, this initiative for special recovery projects to identify and recover unremitted revenues across sectors of the economy was brought into light,” Shehu stated.
He assured that the RMAFC would continue to strengthen inter-agency collaboration to ensure that Nigeria’s revenue generation processes are both transparent and efficient.
Representing the FIRS Chairman, Dr. Zacch Adedeji, at the event, the Coordinating Director of the Service, Shettima Tamadi, commended the leadership of the RMAFC for taking proactive steps to improve the country’s fiscal position. He pledged the FIRS’s full cooperation to ensure the success of the revenue recovery programme.
“Nigeria has a huge revenue gap, but with stronger collaboration between agencies and partners, we can bridge that gap and achieve sustainable fiscal growth,” Tamadi said.
Mr. Joseph Nwaeze Okechukwu, Secretary to the Commission, urged the consultants to carry out their assignment diligently and ensure that all recoverable revenues are returned to the Federation Account within the stipulated six-month timeframe. He stressed that the recovered funds would support the implementation of the government’s national development priorities.
Delivering the acceptance speech on behalf of the consultants, the lead consultant, Mr. Temitayo Ojeleke, described the engagement as a “national call to duty” and pledged to approach the task with professionalism and transparency.
“We accept this assignment as partners in Nigeria’s economic renewal, ready to deliver results that will strengthen the nation’s revenue base,” Ojeleke said.
