2021 budget: FG promises to improve revenue generation

Nigeria’s finance minister, Zainab Ahmed has said the President Muhammadu Buhari administration is committed to improving revenue generation and enhancing economic competitiveness in the country.

Ahmed who stated this during a virtual Executive Roundtable on the Finance Act 2020 and Economic Outlook for 2021 organised by PricewaterhouseCoopers, said, “The Federal Government of Nigeria will continue to champion economic policies aimed at improving revenue generation, enhancing economy competitiveness, encouraging domestic investors and enhancing macroeconomic stability despite the significant challenges posed by COVID-19.

“This administration is committed to stimulating economic growth by fostering economic resilience in our business communities and broader economy in line with the thematic thrust of the 2021 budget.

“I want to also add that the Federal Government is forging stronger collaboration with the subnational government, state government as well as the local government.”

PwC Partner and Chief Economist, Dr Andrew Nevin, asked Nigeria to leverage on exporting services to the world.

He said Nigeria had a populace of intellectuals earning foreign exchange which should be leveraged on.
‌
He said, “Nigeria exports brains and we are earning significantly from it around the world and that is the asset we need to optimise.

“The interesting thing is that we can export brains from Nigeria without people leaving Nigeria. In fact, if you think about Nigeria’s unique conditions, our ability to export is not manufactured goods.”