On the sidelines of the International Monetary Fund/World Bank annual meetings, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, speaks to some select journalists about some challenges facing the economy and steps being taken to shore up revenue. IFEANYI ONUBA was there2020 budget focuses a lot on taxation.
In January this year, we launched the Strategic Revenue Growth Initiative which was put together by all the revenue generating agencies in the country led by the ministry of finance. Our objective is to be able to harness the existing revenue streams that we have by ensuring that enforcement is effective, to expand the tax base and also to identify new revenue streams that we can add to expand the revenue base.
The practice our neighbours have engaged in is hurting our economy; it’s hurting our local businesses and we have to make sure that stops. That is the purpose of the border closure and not to generate revenue. So if revenues are generated, it’s a consequence but that’s not the purpose. Nigeria does not have a debt problem. What we have is a revenue problem. Our revenue to Gross Domestic Product is still one of the lowest among countries that are comparable to us. It’s about 19 per cent of GDP and what the World Bank and IMF recommended is about 50 per cent of GDP for countries that are our size. We are not there yet. What we have is a revenue problem.
You talked about the revenue problem. A lot of people have said our revenue target for 2020 is rather too ambitious. So how do you intend to achieve that as Nigeria has not been meeting revenue targets? The agencies proposed those numbers. We interrogate them and ask them to justify them. To be prudent, we even discount what they propose before it goes into the national budget.
So if an agency underperformed, there would be consequences. We will be pushing to make sure we provide all the support that the agencies require to make them perform.
And the borders at the north east is open, is obvious our country is no longer showing the unity that bound us together.
I stand with you all the way
I no wan follow you talk this ur talk
But you need to cushion the effect of the border closure on Nigerian masses; prices of commodities have gone out of the roof, there is hunger everywhere.
I don't blame you daft man
It would only lead to hunger and starvation, more insecurity and at the end Nigeria would implode,
Hope it will make NGRSenate to buy made in Nigeria SUVs,.
She is there talking, and millions of Nigeria are poor, they can't even afford to paid 1000 for I Congo of rice, if you want to close border then you provide alternative for us
Like president like minister
The government is hurting them already by starving them
So far so good, all am seeing is internal injuries 🙄😏
Then wats the need for customs and other border agency, if the borders are CLOSED,why punish the poor masses whose business depends on movements across the border, madam minister pls how much is A Bag Of Rice? U r Hurting the Citizens.
Lwkmd
Border closing is not Nigeria's issue, we need to stop hailing our oppressors. The spend money on security and modern technology nobody will invade your border.
Lol, our neighbors are not hurting us, rather your anti people policies keep hurting Nigerians.
Clueless do you know what that Silly idea of your Recession Mindset have caused ?
U will only end up enriching immigration and customs officers at our borders d more
Let's just remember that a day is coming that everyone will give account of his or her deeds
But it didn't stop custom officers to run their shaddy & godless activities
Thunder fire you
What did ECOWAS say
It shows this government has no clue on what is happening...the so called neighbors are those NIGERIANS that have businesses there
But rice is entering the northern part of the country abi
You are hurting Nigerians internally. Border closure is not economics
The borders in the north has no neighbors hurting our country hence the need to only close that of the western part our country abi!? You people are mad together!
Living in alternative universe. Border closing hurts both ways. How about using technology for border control? Must this government always go medieval?
True but we have taken advantage of it to hurt ourselves.
Please what do we do for Nigerians to stop hurting Nigerians.
Can she be specific?
They Kept advancing stupid excuses for their stupid border policy decision. What concern finance with neighbours hurting Nigeria......what is the economic benefits madam
God will punish u and ur family
Minister of borrowing I don't understand you. What is your reasonable contribution to our economic since you hold this position.
Full support. But then, if we all agree that Nigeria is an enormous market, why don't we also encourage import through our ports in the same manner as these other countries at a reduced financial rate
Are we not hurting ourselves already?
Why is it closed only in the south not on all sides of the country who is fooling who,restructured this country for the good of all,u people should stop telling lies that's not well cooked,north west border still open,why is it so
Close all the Borders for all we Care.. Nigeria will impload one day!!!!
Thank you ma. God bless you.
No country does well when importation is above exportation. Time to develop and grow our own
Same u that spent abacha loot on poor Nigerian 🇳🇬 that only u no
When you point one finger to others, remember that the four others are directly or indirectly pointing at you.
They can’t get the hard reality of suffering Nigerians. The arrogance of this government is on another level. If you talk they send EFCC after you. APC time will pass and the darkest moments in Nigeria history will never happen again. Nigerians we be wiser towards choices.
If anybody do anyhow & him go see anyhowness,
Why not also close the borders used by fulani herdsmen
Hurting Nigeria in what aspect
Liar! You needed it to shift southern money up north. You want to force us to buy cows and rice from the North. It's a form of punishment for refusing Ruga.
At least do some quick surveillance of the country first before u open ur mouth to say bunch of nonsense .
Does this includes the fulanis from other countries like Mali, Niger, and Chad?
Yes indeed. I support this idea.
Introduction of sperm can make a woman behaves like her husband
Abba kyari & Mamman Daura refused to get sense. Their quest to impoverish Nigerians as they have successfully achieved in the Northern region with the army of almageri's roaming the streets of Kano. Continued excuses why Nigerian border should shutdown is daft & shortsighted.
You will be ok ma’am
Lolzzzzzzzzzzzz
I hope something is done about Nigeria being hurt internally too?
Yu are clueless...closing border is a coward & illogical way to strengthen economy. There re viable options that won't hamper your people who claim to protect.
Only enemies are against it, we are 100% in support because is not permanent.