Wale Edun, Nigeria’s finance minister, has assured Nigerians that the President Bola Tinubu would be more accountable for oil revenue unlike it had been in the past.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, voiced his optimism at a meeting with the House of Representatives Committee on Appropriation.
The meeting was called to defend the 2024 appropriation bill.
He said the issue of accounting for oil revenue was germane.
“Clearly, whatever we have met as a way of monitoring oil revenue and payment into the federation account will be done.”
Also, the minister said he had agreed with many who had pointed out the fact that the Federal Government must have a system of paying into government coffers with exchange rates.
See Also:Â Adamawa Man Kills Mother Over Claim Of Witchcraft
He said that the current administration’s plan was to increase revenue from taxation.
According to him, there is a need to increase the efficiency of tax administration collection.
Mr Edun said the government depended on foreign direct investment, including domestic and the private sector to grow the economy.
Also, he highlighted that the government was not spending enough on key infrastructure.
Furthermore, he said that there was a need to interrogate why there seemed to be an overestimation of certain expenditures.
The minister said the government was compressing the plethora of waste in the number of taxes, saying that 90 per cent of tax revenue from the government comes from a particular tax end.
