Senator Tells President Tinubu To Create Ministry Of Revenue

A call has gone out to President Bola Tinubu to ensure he creates a Ministry of Revenue.

The call was made by the lawmaker representing Ondo South in the upper chamber of the National Assembly, Senator Jimoh Ibrahim.

According to Ibrahim, it is imperative for the President to create the Ministry which will serve as the coordinating platform for all revenue-generating agencies of the government.

The Senator made the call in a personally signed statement on Saturday.

According to him, the Ministry of Finance is not giving the required mobilization and coordination, hence the need for a Ministry of Revenue.

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

”Analytically, 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 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 symbolized by the Federal Ministry of Revenue when created,” Senator Ibrahim wrote in the statement.

Senator Ibrahim said the idea has been discussed with President Tinubu and the Nigerian leader has a positive disposition towards it.

Ibrahim added that if the Ministry of Revenue is created, it 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.

He said, ”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 percent and required innovative ideas of defraying it.”