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FG targets over N10trn revenue in 2022

By Godfrey AKON

The Federal Government says it is targeting N10.7 trillion revenue in 2022, including revenue from government owned enterprises.

Minister of Finance, Budget and national Planning, Mrs Zainab Ahmed, stated this at the public presentation of the 2022 Appropriation Act.

Ahmed, who disclosed that Nigeria’s independent revenue crossed the N1 trillion mark in 2021, expressed delight that the revenue segment was performing better than expected.

Independent revenues are generated by the Federal Government from agencies captured under the Fiscal Responsibility Act.

Such agencies include the Central Bank of Nigeria, CBN, the Nigeria Deposit Insurance Corporation, NDIC, the Securities and Exchange Commission, SEC, the Nigerian Television Authority, NTA, among others.

According to Ahmed, these agencies remit 80 per cent of their operating surplus to the Consolidated Revenue Fund Account.

In 2021, Government Owned Enterprises returned N1.2 trillion to the account, while other revenues in the same year amounted to N2.80 trillion.

Meanwhile, Ahmed, has assured that the Federal Government will not lay off government workers in its effort to merge some government agencies to cut cost.

While speaking on NTA’s ‘Good Morning Nigeria’ programme on Thursday, the minister however, said the government would encourage people to leave government jobs by giving them incentives.

“Mr President doesn’t want to disengage staff. That is what he has directed from the beginning of his administration. He also directed that we pay salaries. The Federal Government has never failed in paying salaries and he said we must always pay pensions.

“So, he has been consistent in those directives and we have followed those directives to the letter,” she said.

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