The special adviser to the President on revenue, Zacch Adedeji, has vowed that the current administration will ensure that every kobo of the nation’s revenue counts.
He made the vow on Thursday in Abuja at the one-day hybrid sensitisation workshop on the published “Guidelines for Private Sector Response to Illicit Financial Flow (IFF) Vulnerabilities in Nigeria,” organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Adedeji stated that his principal believes in fiscal discipline and would ensure judicious utilisation of the country’s revenue and resources.
According to him: “The President believes in fiscal discipline, which rests on the accurate prediction of revenue. If the government can’t count your money, the government can’t allocate it, and if the government can’t allocate it, it can’t manage it.
“The administration of President Bola Ahmed Tinubu will make every kobo of our revenue count.”
The chairman of ICPC, Prof Bolaji Owasanoye, noted that IFF was a drain on Nigeria’s potential revenue accretion and foreign exchange reserves.
This, according to him, has resulted in exchange rate depreciation, inflation, and an increase in the cost of servicing external debts, in addition to negatively impacting the cost of imported goods like petroleum.
On the way out of the IFF trap, the ICPC boss called for diverse measures to tackle the menace in all its forms and to improve Nigeria’s quest for domestic revenue growth relative to the size of her economy.
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