Nigeria’s Minister of Finance, Mrs Kemi Adeosun on Tuesday in Abuja assured the National Assembly that government revenue generating agencies would live up to task by raking revenues into government’s treasury in order to supply the needs of the nation.
The minister who appeared before the Senate Committee on Finance chaired by Senator John Owan Enoh with managements of high profile revenue agencies, stressed that the Federal Ministry of Finance had done enough of micro and macro economics that would sustain the 2016 budgets.
She said part of the strategies that will ensure free flow of revenues with very minimal opportunity to comprise was the application of Information Communications Technology at all levels, especially at the Nigeria Customs and Excise Duties, Federal Inland Revenue Service, Nigeria Immigration Service and others.
“We have done enough of micro and macro economics that help generate adequate revenue and reduce leakages in our revenues and part of the steps taken was adequate deployment of ICT in our high profile revenues generating agencies,” she maintained.
She noted that reforms of those agencies which were in line with President Muhammadu Buhari’s change agenda was already yielding fruitful results which is evident in increase in revenues in the last few months into the coffer of the administration.
“Distinguished Senators, I can tell you that reforms in those agencies were already yielding results as you can see in the increase in revenues,” she said.
She added that government was beefing up compliance levels of taxation while noting that the application of ICT in that direction has been fruitful.
“Yes, we are beefing compliance levels of taxable revenues through application of IT and results has been wonderful,” she added.
On his part, Chairman, Senate Committee on Finance, John Owan Enoh maintained that the Committee was seriously monitoring activities of all revenue agencies with the mindset that government must meet the yearnings of Nigerians.
He also warned that no excuses would be condoned by the 8th Senate by any agencies for not meeting the projected revenues, while disclosing that they would soon be on oversight function to see things the way they are.
“The 8th Assembly will not take excuses from any agencies for not meeting the target, besides, we will soon be on oversight,” he maintained.