FG targets N3.8trn, N160bn from non-oil, oil generation yearly

The Federal Executive Council Wednesday approved a new revenue boost initiative that will see the country generate N3.8trn from non-oil and N160bn from oil revenue generation annually. 

This spokesman of the vice president, Laolu Akande, disclosed this to State House reporters after the FEC meeting.

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 He said significant progress had been made in raising the VAT from 5 per cent to 7 per cent and other measures since 2019. 

Akande said the council also approved a memo by the Attorney-General of the Federation on the ascension of Nigeria to the Budapest convention on cybercrime.