Nigeria Needs to Generate New Revenue for Better Governance Says Modo Ante Boss

Nigeria’s government at various levels need to generate new revenue for better governance and sustainable growth.

Mr Joko Okupe, the Chief Executive of Modo Ante, a pioneer governance, public sector and political consultancy firm stated this during an interview with the press.

According to Mr Okupe, there are several sectors in Nigeria holding untapped potential for revenue growth.

He added that even existing revenue-generating government entities can be enhanced and can create new money.

Okupe explained that that new money means, revenue to accrue to the government that erstwhile does not exist, by utilising technology to enhance public service delivery and efficiency.

Okupe disclosed that “a summit on national revenue growth held March 27th & 28th, 2024 to seek ways to strategize for new streams of revenues for the government.

He stated that ” the Tinubu’s administration inherited a heavy national debt of over 87.38 trillion as at the end of June 2023 which comprises domestic debt of 54.13 trillion and external debt of 33.25 trillion.”

The resultant effect of this debt burden: low government liquidity, currency devaluation, high inflation rate increased prices of commodities and a sluggish economy.

In his words “The government revenue growth summit is to address the present critical need for sustainable revenue generation, by bringing together experts, policymakers, and all stakeholders to explore innovative ways that would bolster government revenue streams.”

Okupe added that ” Nigeria need to leverage on her strength in entertainment, sports and extractive mining industry for revenue generation or new money” he said.