The Senate Finance Committee also said it would extend unwavering support to the Presidential Committee on Fiscal Policy and Tax Reform in its ambitious endeavour to address the substantial annual revenue gap of 20 trillion Naira from non-oil sources and also to achieve an 18% tax-to-GDP ratio.
“Stringent Oversight of Revenue Agencies will be entrenched as our responsibility extends to overseeing the activities of revenue-generating agencies. Through rigorous oversight, we will ensure their transparency, accountability, and efficiency, thus maximising revenue collection for national development.
Musa also noted that some Ministries, Departments, and agencies are fiscally irresponsible and generate low revenue profiles. “It is a known fact that the Nigerian economy stands at a critical juncture, navigating through a complex web of economic challenges that necessitate strategic and informed policy responses.
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