Senator Jimoh Ibrahim has called on President Bola Ahmed Tinubu to create a Ministry of Revenue in view of the imminent assignment of portfolio’s to screened ministerial nominees by the President.
The Ondo South Senator gave the advice when he visited the President penultimate week according to a statement in Abuja.
He explained that when created, the Ministry would serve as coordinating platform for all revenue generating agencies.
The proposed ministry, according to him, would help the country navigate its way out of the current socio-economic circumstances.
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He said: “There are many revenue generating agencies in Nigeria today without a coordinating body or platform.
“The Ministry of Finance is not giving the required mobilisation and coordination in this regard, hence, the need for Ministry of Revenue.
“Analogically, 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 symbolised by the Federal Ministry of Revenue when created.”
He added that the idea has been sold to President Bola Tinubu who according him, saw the need for it in line with his pedigree on improved revenue generation.
He insisted that the Ministry of Revenue when created, would serve as one of the strategies through which the nation’s debt could be defrayed by serving as window for improved revenue generation to fast-track the nation’s development.
“The nation’s debts of N77trillion shouldn’t be a cause for worry considering the current debt to Gross Domestic Product ratio of less than 31 per cent and required innovative ideas of defraying it,” he added.