AGF Calls for Automation of Non-Oil Revenue Collection
The Accountant – General of the Federation, Mr. Ahmed Idris has stressed on the importance of automation of non-oil revenue sources as the way to go for Nigeria.
According to him, diversification of the economy away from oil dominance to non-oil sources of revenue including tax and Customs collections is of strategic economic importance to Nigeria.
Speaking at the on-going 2018 National Council On Finance and Economic Development (NACOFED) holding at Kaduna, Kaduna State, Mr Ahmed said, “The long awaited renaissance of the non-oil sector in Nigeria is here now. It does not matter if it is forced on us by circumstances that are outside of our control, like the misfortune in the global oil market. The Economic Reform and Growth Plan, (ERGP) shows that government has seen the danger in an oil dependent economy and is determined to diversify away from it”. He further advised that Government at all levels must as a matter of priority, focus more attention on this critical element of boosting their revenue base away from oil by committing more resources to its actualization.
The Accountant -General of the Federation, further recounted how the Treasury recognised the need to optimize the collection of revenues and made a swift shift from manual collection processes to electronic systems. This according to him, has put the Treasury at the forefront of the ongoing Public Finance Management Reforms initiatives in the country.
To buttress on the gains of automating revenue collection, the AGF, said that implementing the TSA/e-collection, is currently saving Federal Government over N42 billion Monthly on Ways and Means charges.
Mr Idris also enumerated other gains of automated revenue collection and other sources of non-oil revenues as found in a few African countries like, Ghana, Kenya, Zimbabwe and Uganda which have already automated their revenue collection processes.
The AGF concluded by discountenacing the idea that automation eliminates human involvement, rather “it minimizes it and makes it more meaningful and productive”.
Oise D. Johnson
Head Press & Public Relations
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Report By: PRNigeria.com