By Seun Ibiyemi
The Federal Government has announced a strategic target to raise Nigeria’s revenue-to-GDP ratio from the current 12.5 per cent to 18 per cent by 2030, as part of efforts to ensure long-term economic sustainability.
The Minister of State for Finance, Hon. (Dr.) Doris Nkiruka Uzoka-Anite, disclosed this in a statement released via her official X (formerly Twitter) handle, emphasizing that the administration is prioritizing Domestic Resource Mobilisation (DRM) under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
According to the Minister, the government is intensifying efforts to diversify the revenue base, aiming to enhance fiscal resilience and reduce the country’s historical dependence on volatile oil earnings.
This shift comes amidst growing national development needs and a constrained fiscal space.
The statement highlighted the evolution of Nigeria’s revenue system over the decades, citing milestones such as the introduction of Value Added Tax (VAT), various strategic revenue frameworks, and the current comprehensive tax reform agenda.
However, it noted that despite these past efforts, the urgency for aggressive revenue mobilisation has increased due to rising public expenditure pressures.
To achieve the new 18 per cent target, the government outlined a multi-pronged approach involving strategic planning, the implementation of enabling tax and non-tax policies, modernized revenue administration, and real-time performance management.
Dr. Uzoka-Anite stressed that effective revenue mobilisation must be anchored on accountability, improved public service delivery, and fairness.
These elements, she noted, are essential to rebuilding public trust, strengthening the social contract between the government and citizens, and boosting tax morale.
The Minister expressed confidence that with sustained reforms and stronger citizen engagement, Nigeria can unlock its full revenue potential and make the 2030 target a reality.