Naira
Naira

The Nigerian government Friday said it was focusing on how to grow both the oil and non-oil sectors to boost revenue generation.

Speaking in Lagos, Nigeria’s economic hub, Udo Udoma, the country’s Minister of Budget and National Planning, said the government had increased oil production to 2.5 million barrels per day with peace in the Niger Delta.

He told his audience that the government will continue to engage the Niger Delta region to maintain peace and stabilize oil production.

Udoma said the government would achieve the target through improved tax collection and instead of increment in tax rates.

The minister said that the target would be achieved through Voluntary Assets and Income Declaration Scheme that promotes voluntary tax compliance.

Udoma said the present government’s strategic focus was to increase revenue generation to reduce reliance on borrowing to fund the budget. Enditem

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