Jimoh Ibrahim urges President Tinubu to create Ministry of Revenue

President Bola Tinubu has received strong recommendations for the establishment of the Ministry of Revenue prior to the formation of the Cabinet and the distribution of portfolios to the 48 Ministerial nominees awaiting Senate confirmation.

According to a statement issued on Sunday, Senator Jimoh Ibrahim (APC Ondo South) offered this recommendation for the establishment of the Revenue Ministry when he paid the President a courtesy call.

Senator Ibrahim explained the urgent need for the Ministry in Nigeria in a statement he personally signed on Sunday. He claimed that once the Ministry was established, it would act as a coordinating hub for all revenue-generating organisations.

He asserted that this ministry was essential for the country to wriggle out of the socio-economic mess it was now in.

Senator Ibrahim said, “There are many revenue-generating agencies in Nigeria today without a coordinating body or platform.

“The Ministry of Finance is not giving the required mobilisation and coordination in this regard, hence, the need for the Ministry of Revenue.

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“Analogically, in Nigeria over the years, we have the Ministry of Finance more or less playing the role of Bursar disbursing all the monies remitted into national coffers by generating agencies but there is no Treasurer to keep proper records of revenues generated by the various affected agencies and give them the required impetus to generate more.”

“Nigeria definitely needs a national treasurer to be symbolised by the Federal Ministry of Revenue when created,” he noted.

He continued by saying that President Bola Tinubu had been pitched the concept, and that Tinubu had accepted it because he believed it would help with money generation.

The lawmaker further asserted that the Ministry of Revenue, once established, would be one of the methods used to pay off the country’s debt by acting as a window for increased revenue creation to hasten the country’s development.

“The nation’s debts of N77trn 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,” he added.

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