*Deploys crack team of Revenue Treasury Officials to Money-spinning agencies…
In a determined bid to shore up its revenue base and block leakages in revenue generation, the federal government has deployed a crack team of Revenue Treasury Directors(RTD) with the requisite expertise to operate optimally and efficiently to some revenue generating federal agencies.
The New Diplomat’s checks reveal that the agencies which the Accountant-General of the Federation, Mr Ahmed Idris has deployed these revenue treasury directors to help check loopholes nad beef-up revenue generation are the Nigerian National Petroleum Corporation(NNPC) Federal Inland Revenue Service(FIRS), Nigeria Ports Authority(NPA), Nigeria Communication Commission(NCC) and the Nigeria Customs Service(NCS).
Other are Nigeria Maritime Administration Safety Agency(NIMASA), Department of Petroleum Resources(DPR), Corporate Affairs Commission(CAC), Federal Airport Authority of Nigeria(FAAN) and Nigeria Shippers Council(NSC).
The posting of the designated officers, The New Diplomat’s checks reveal follows the federal government resolve to escalate it drive towards revenue generation, boost productive activities and ensure economic recovery from recession.
An internal circular from the Ministry of Finance and signed by the Accountant-General of the Federation, Mr Ahmed Idris, entitled “ Strategic Revenue Growth Initiative of the Federal Government: Posting of Treasury Director of Revenue: Federal Government owned Enterprises(FGOEs), the AG stated that the minister of finance, Budget and national planning has approved the posting of the designated revenue directors with immediate effect.
The memo reads, among other things: “Accordingly, chief Executives of teh affected FGOEs are enjoined to provide the officers with enabling environment and facilities to carry out this crucial and onerous National assignment which is in line with present Administration’s Strategic Revenue Growth Initiatives.”
“ All officers are to note that failure to comply with this posting instruction shall be treated in accordance with the provision of Public Service Rule(PSR 030301B)…”
It would be recalled that about five days back, the Nigeria’s economy slipped into recession for the second time in four years as oil prices plunged to all time low amid the ravaging COVID-19 pandemic.
Data from the National Bureau of Statistics (NBS) indicated that Nigeria’s gross domestic product (GDP) contracted by 3.62 percent year-on-year in real terms in the third quarter of 2020. “Cumulative GDP for the first 9 months of 2020, therefore, stood at -2.48 percent,” the NBS stated.
According to the NBS, the economy recorded a shrink by 6.1 percent in Q2, a development which signals that two consecutive quarters of negative growth have been recorded in 2020.
With the two consecutive quarters of economic contraction, Nigeria, the continent’s largest economy officially slipped into recession again. Recall that four years ago, precisely in 2016, Nigeria similarly slumped into recession, the very first in about two decades.
