Nigerian Government Targets N3.8tn, N160bn In Non-oil, Oil Revenues

The Federal Government approved a new revenue boost scheme aiming to annually generate N3.8tn and N160bn from non-oil and oil ventures respectively. <br />The Finance, Budget and National Planning, Zainab Ahmed, says the revenue mobilization reforms, will be accelerated and be derivative of the federal government’s strategic revenue growth initiative. <br />She added that the significant progress that has been made in this initiative includes the raising of the VAT from 5 per cent to 7 per cent and other measures since 2019.