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How we achieved N1.2trn IGR in 2021, by FG

By Joseph Chibueze, Abuja
02 April 2022   |   2:55 am
The Federal Government has disclosed that the deployment of Treasury Revenue Directors to 10 of its enterprises in 2020 contributed to the realisation of N1.250 trillion Internally Generated Revenue (IGR) in 2021.

Mrs. Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning. Photo/facebook/Finminnigeria

The Federal Government has disclosed that the deployment of Treasury Revenue Directors to 10 of its enterprises in 2020 contributed to the realisation of N1.250 trillion Internally Generated Revenue (IGR) in 2021. 

The Accountant General of the Federation, Ahmed Idris, made this known yesterday at a Retreat for Chief Executives and Treasury Directors of Revenue of the Federal Government Owned Enterprises (FGOES) in Abuja.

“In 2020, the Minister of Finance, Budget and National Planning, Zainab Ahmed, approved the deployment of Treasury Revenue Directors to 10 FGOEs.

“In approving the policy, the Minister noted that ‘the presence of Treasury Directors of Revenue at the FGOEs will ensure strict adherence to extant rules and regulations in the areas of compliance to approved budget and due process mechanism in procurement and payments.’

“The deployment of the Treasury Directors of Revenue is already having great benefits for the Federal Government, with the internally generated revenue tremendously increasing from N532.90 billion in 2020 to N1.250 trillion in 2021,” Idris said.

He expressed optimism that there would be a greater improvement in government revenue inflows if the policy were sustained. 

Idris pointed out that the government was monitoring the 10 FGOEs that were involved in the first phase of the deployment, adding that the exercise would be extended to the remaining 55 FGOEs once the Ministry of Finance, Budget and National Planning approves that.