FG records over N1 trillion monthly revenue inflow since subsidy removal- Wale Edun
by Caleb Obiowo

The Minister of Finance, Mr. Wale Edun has revealed that the Federation Account has been witnessing an improved revenue inflow of over N1 trillion since the removal of subsidy.

The minister made this on Monday in Asaba at the opening ceremony of a four-day retreat organized for members of the Federation Account Allocation Committee (FAAC).

Edun, represented by the Permanent Secretary, Finance, Special Duties, Mr Okokon Udo revealed the Federal Government had for long, realised that petroleum subsidy was not sustainable.

According to him, the subsidy regime eroded revenues that should have been deployed towards expenditures that were critical to the well-being of the populace.

The minister noted that President Bola Tinubu’s administration was mindful of the needs and welfare of Nigerians and assured that it would continue to implement people-oriented policies.

“’ We all know that achieving tax revenue to Gross Domestic Product (GDP) target of 22% and tax to GDP of 18% by 2026 are parts of the cardinal objectives of this administration.
, in doing that we appreciate the need not to overburden the taxpayers by introducing so many new taxes.

” What is necessary to be done is to broaden the tax base, simplify and streamline tax administration for ease of collection,” he said.

FG’s reassurance to normalize the economy
The minister further disclosed that the current administration was not unaware of the hardship faced by Nigerians, following the removal of fuel subsidies, and unification of exchange rates.

Edun reassured that President Tinubu would ensure the economy was back to normal so the sacrifice of the masses would not be in vain.

”Government is bent on ensuring that the economy bounces back to normal as we continue to consolidate on recovery efforts with focusing on achieving inclusive economic growth and development,” he added.

Furthermore, the minister said that the present administration has so far put in place well-structured palliative measures to lessen the effect of the ongoing reforms.

https://nairametrics.com/2023/11/20/fg-records-over-n1-trillion-monthly-revenue-inflow-since-subsidy-removal-wale-edun/
Mynd44 nlfpmod

Our oil subsidy liability is now becoming an asset.

Thank God for President Buhari who removed oil subsidy from our national budget and God bless President Bola Ahmed Tinubu for implementing the oil subsidy removal.

This is a great achievement the naysayers and unpatriotic elements will neither see nor benefit from.

Nigeria is now in the hands of the best of the best among us and led by a brilliant, hardworking, competent and highly patriotic visionary President Bola Ahmed Tinubu, GCFR.
God bless Nigeria for ever!

Money is coming

"fg-records-over-n1-trillion-monthly-revenue-inflow-since-subsidy-removal-wale-edun".

PLEASE TELL US HOW DO YOU IMPLEMENT THE "CLEAN NOTES POLICY" OF THE CBN? HOW DO YOU HANDLE THE "UNFIT NOTES"?

THERE'S NO CORRELATION RELATIONSHIPS BETWEEN SUBSIDY REMOVAL AND THE MONTHLY N1TRILLION INCOME EARNINGS FROM ABROAD. THOSE SO CALLED INCOME EARNINGS FROM ABROAD ARE ALREADY TAXED PENSIONS FOR OUR OLD AND INFIRM PARENTS.

PLEASE PUT PRESSURE ON THE PRESIDENCY AND OUR LEGISLATURES TO ADOPT FAPRES FOTCS AND CTC FOCS TRFG AND PUT OUR BUDGETARY CONTROL POLICIES IN GOOD STANDARDS.

Clapping for another failure.

Buhari singers do pass this one

When will Bola stash Agbado pyramid in Nigeria?

Propaganda is not sustainable

FreeStuffsNG:
Our oil subsidy liability is now becoming an asset.

Thank God for President Buhari who removed oil subsidy from our national budget and God bless President Bola Ahmed Tinubu for implementing the oil subsidy removal.

This is a great achievement the naysayers and unpatriotic elements will neither see nor benefit from.

Nigeria is now in the hands of the best of the best among us and led by a brilliant, hardworking, competent and highly patriotic visionary President Bola Ahmed Tinubu, GCFR.
God bless Nigeria for ever!

1 trillion monthly then what will happen to the money after this?