Overview of Tinubu Orders on Revenue Reduction

The President of the Tinubu Soccer has ordered a review of reducing and revenue retention practices by large federal institutions in the country.

The Minister of Finance, Wale Edun, revealed this after the meeting of the Federal Executive Council Wednesday, which was chaired by President Tinubu at the President’s Villa, Abuja.

He said this step was part of a broader effort to increase public income, stimulate investment, and accelerate economic growth.

Agencies -Target directions such as Nigeria National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS), Nigerian Customs Services, and Nigerian Maritime Administration and Safety Agency (Nimasa), among others.

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Edun stressed that the aim was to optimize public savings, cut waste, and channel funds to the area of critical growth.

Tinubu, he added, called for a special review of a 30 percent NNPC management cost and a 30 percent border exploration reduction under the oil industry law.

“The President is committed to accountability and efficiency in managing Nigerian natural resources,” the Minister said.

He reiterated Tinubu’s target to build a $ 1 trillion economy in 2030.

“To achieve that, we must grow the economy at least 7 percent per year from 2027,” he concluded.