Minister of Finance – Non Oil Revenue Grew by 15.7%

Zainab Ahmed, The Minister of Finance, Budget and National Planning has revealed that Nigeria’s non-oil revenue grew to N1.15 trillion. She explained that the 15.7 per cent increase in revenue was above the initial target set by the federal government, emphasizing the need for continuous and vigorous efforts from relevant authorities to continue this pattern of progress.

Her words “Our non-oil revenues have grown to N1.15 trillion, representing 15.7 per cent above set target. We are working on the 2021 finance bill, and it’s nearing completion,”

“Also, the recent approval of the medium-term national development plan is an important milestone of Buhari’s commitment to delivering sustainable growth, and we require strong support and monitoring during implementation.”

During the Institute of Directors Annual Conference (IoD) 2021  held Abuja, The minister explained that the development was in line with President Muhammadu Buhari regime’s which is focused on diversifying the Nigerian economy, Further noting that the Nigerian economy has been resilient despite the COVID-19 pandemic.

The minister said the government, alongside the private sector, had implemented a wide range of monetary measures to stimulate economic recovery, growth and development, job creation, and improved living standards.

Minister Ahmed also said the government is strategically  diversifying the country’s revenue sources with proactive fiscal policies.

“Nigeria was quickly able to exit recession and is on her way to path of sustainable growth, and we are intensifying efforts to grow and diversify our revenue sources to grow revenue from the current eight per cent,” the minister added.