Create Ministry of Revenue, Senator Jimoh Ibrahim tells Tinubu

Jimoh Ibrahim, senator for Ondo South Senatorial District, has suggested that President Bola Ahmed Tinubu establish a Federal Ministry of Revenue.

The Nigerian Senate confirmed 48 cabinet nominees on Saturday, prompting this call.

The legislator claimed the ministry, once established, will act as a central hub for all entities responsible for producing money in a statement he released to the press on Sunday.

According to the article, Ibrahim made President Tinubu a courtesy call and suggested that he establish the ministry.

He thinks the proposed ministry is crucial to helping the country claw its way out of its current socioeconomic impasse.

“Today, Nigeria has several revenue-generating agencies, but no central organisation or platform to coordinate them.

The necessity for the Ministry of Revenue arose because “the Ministry of Finance was not providing the necessary mobilisation and coordination in this regard.”

The Ministry of Finance in Nigeria has acted as the Bursar, disbursing funds contributed to the national treasury by various generating agencies, but no Treasurer has been appointed to keep track of the money coming in from these sources and encourage the other agencies involved to contribute more.

“When the Federal Ministry of Revenue is established, it will serve as a symbol of Nigeria’s need for a national treasurer,” he said.

He continued by saying that President Tinubu had been convinced of the idea’s merits because of his proven track record of increasing government revenue.

He predicted that the ministry would open up new avenues for increased revenue, speeding up the development of the country and thereby helping to alleviate the country’s debt.

Adding that “the nation’s debts of N77 trillion shouldn’t be a cause for worry considering the current debt to Gross Domestic Product ratio of less than 31 percent and required innovative ideas of defraying it,”