Owing to a heavy national debt inherited by the present administration, which at the end of June 2023 stood at N87.38 trillion, and a N9.18 trillion deficit in the N27.5 trillion 2024 budget presented by President Bola Tinubu last which with N7.83 trillion of the deficit to be financed by new borrowings, taking the total debt to over N95 trillion, experts have predicted a steep rise in the debt profile due to expanding fiscal deficit and reducing revenue generation.

This is alongside resultant effects such as low government liquidity, currency devaluation, high inflation rate and sluggish economic growth, among others.

In the bid to mitigate possible worse future outcomes and support government to succeed by proffering solutions to the trend of additional borrowing and its attendant implications, Modo Ante, a leading governance, public sector consulting firm, will hold a National Revenue Growth Summit in first quarter of 2024, to spearhead discourses and initiatives towards improving the standard of governance and support all tiers of government to fulfill their mandates

The summit, themed ‘Unlocking New Streams of Revenues for Government’, will bring together senior government officials, public officers, other critical stakeholders and experts, with a focus on identifying and exploring some innovative strategies to improve on existing revenue streams of government and create new streams of revenue that did not exist, to fund sustainable economic growth.

The summit intends to enable understanding of current state of revenue land- scape, identify challenges and opportunities, and provoke an out-of-the-box thinking approach that embraces innovative approaches to creating “new money” opportunities for government.

The summit is also expected to strengthen collaboration between the public and private sectors to aid policy reforms that will increase government productivity levels and boost its revenue generation. The cumulative effect of all these is expected to improve Nigeria’s overall global competitiveness.