Revenue leakages causing me sleepless nights, Buhari's minister reveals

Revenue leakages causing me sleepless nights, Buhari's minister reveals

- Zainab Ahmed, the minister of finance, budget and planning, revealed her great concern about Nigeria

- The minister said the leakages in the country's revenue caused her sleepless nights

- Ahmed said they have invested in IT systems which will aid them in viewing companies’ revenue on a real-time or near real-time basis

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Following the decrease in Nigeria's income, the minister of finance, budget, and planning, Zainab Ahmed, has said the country’s revenue leakages are making her lose sleep.

The Cable reports that the minister made this known while responding to a question posed to her by Poju Oyemade, senior pastor of Covenant Christian Centre, during The Platform in Lagos. gathered that the event is an annual conference organised to mark Nigeria’s independence anniversary.

Revenue leakages causing me sleepless nights, Buhari's minister reveals
The minister of finance, budget, and planning, Zainab Ahmed. Credit: Twitter/Zainab Ahmed.
Source: Twitter

Speaking on things that keep her awake at night, Ahmed said her great concern is about revenue, adding that her concern“number one is revenue, number two is revenue and three – I would say, is revenue.”

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Ahmed explained that her ministry is working tirelessly to combat shortfalls in revenue generation which has denied the country income.

The minister noted that the ministry is using information technology mechanism to streamline the revenue system in the country.

She said:

“We have been trying to block and also enhance the cohesion of our people, especially within the revenue ecosystem. We have invested in the IT system and trying to collaborate and bring things together.
“We have a process that on monthly basis, we sit down and reconcile our revenues and tally up the numbers. We are working on interfacing all the IT systems so that we can see companies’ revenue on a real-time or near real-time basis.”

According to her, Nigeria has recorded significant achievements and progress in attaining self-sufficiency in food security.

The minister further stated:

“We are doing everything that we can to make sure that our country is self-sufficient, especially in the area of food security.

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“I must say that we have achieved some progress in that regard because if we didn’t have self-sufficiency in food security when there was the lockdown and there was no movement in and out of the country, we would have very significant problems."

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Meanwhile, had previously reported that the federal government announced its decision to take over the control of revenue management of its 10 most lucrative enterprises, including the Nigerian National Petroleum Corporation (NNPC).

It was reported that the new initiative which was announced on Tuesday, September 22, was as a result of the government's dwindling revenues and heavy debt burden and the need to boost the resources.

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