The Federal Government has set ambitious goals for the year 2024, targeting a substantial 77% rise in Internally Generated Revenue (IGR). This strategic initiative is part of the government’s effort to strengthen its fiscal position and reduce reliance on expensive debts to fund budgetary requirements.
The emphasis on increasing IGR underscores the importance of diversifying revenue sources and enhancing the efficiency of revenue-generating agencies. By achieving this target, the Federal Government aims to create a more sustainable and self-reliant financial structure, mitigating the need for costly external borrowing.
Avoiding expensive debts aligns with prudent fiscal management practices, as high-interest debts can impose significant financial burdens on the government. The focus on increasing IGR signals a commitment to harnessing domestic resources and promoting economic activities that contribute to revenue generation.
As Infostride News closely monitors developments related to the Federal Government’s revenue targets, we will provide comprehensive coverage, including updates on strategies employed, challenges faced, and the overall impact on the country’s economic landscape. Stay tuned for in-depth analysis and insights into how these initiatives contribute to fiscal sustainability and economic resilience in Nigeria.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate