{"id":101461,"date":"2023-11-20T21:55:59","date_gmt":"2023-11-20T20:55:59","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister"},"modified":"2023-11-21T00:13:58","modified_gmt":"2023-11-20T23:13:58","slug":"subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister","title":{"rendered":"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy, from an average of N650 million monthly to over N1 trillion in the last four months.<\/p>\n<p>The minister stated this on Monday in Asaba at the opening ceremony of a four-day retreat organised for members of the Federation Account Allocation Committee (FAAC).<\/p>\n<p>Edun was represented at the occasion by the Permanent Secretary of Finance, Special Duties, Mr Okokon Udo.<\/p>\n<p>The minister stated that the government had long realised that petroleum subsidy was unsustainable, adding that it eroded revenues that should have been made available to fund viable expenditures critical to the populace\u2019s well-being.<\/p>\n<p>According to him, the present administration was mindful of the needs and welfare of Nigerians.<\/p>\n<p>\u201c\u2019 We all know that achieving tax revenue to Gross Domestic Product (GDP) target of 22 per cent and tax to GDP of 18 per cent by 2026 are parts of the cardinal objectives of this administration.<\/p>\n<p>\u201d However, in doing that, we appreciate the need not to overburden the taxpayers by introducing so many new taxes.<\/p>\n<p>\u201cWhat is necessary to be done is to broaden the tax base, simplify and streamline tax administration for ease of collection.<\/p>\n<p>\u201cAmong the prior activities of this government after coming into office was the constitution of a Presidential Committee of Fiscal Policy and Tax Reforms.<\/p>\n<p>\u201cThe committee has submitted an interim report full of optimism,\u201d he said.<\/p>\n<p>The minister also noted that the President Bola Tinubu administration was aware of the untold hardship faced by Nigerians following the removal of fuel subsidy and harmonisation of exchange rates.<\/p>\n<p>\u201cGovernment is bent on ensuring that the economy bounces back to normal as we continue to consolidate on recovery efforts while focusing on achieving inclusive economic growth and development,\u201d he added.<\/p>\n<p>Edun said Tinubu has put well-structured palliative measures in place to cushion the ongoing reforms\u2019 economic consequences.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy, from an average of N650 million monthly to over N1 trillion in the last four months. The minister stated this on Monday in Asaba at the opening ceremony of a [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":101460,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,254,8580,6006,11507],"class_list":["post-101461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-revenue","tag-subsidy-removal","tag-wale-edun"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister - Nigeria<\/title>\n<meta name=\"description\" content=\"The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister\" \/>\n<meta property=\"og:description\" content=\"The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-20T20:55:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-20T23:13:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"435\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister\",\"datePublished\":\"2023-11-20T20:55:59+00:00\",\"dateModified\":\"2023-11-20T23:13:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister\"},\"wordCount\":341,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"revenue\",\"Subsidy Removal\",\"Wale Edun\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister\",\"name\":\"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister - Nigeria\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg\",\"datePublished\":\"2023-11-20T20:55:59+00:00\",\"dateModified\":\"2023-11-20T23:13:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg\",\"width\":720,\"height\":435,\"caption\":\"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/nigeria\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/\",\"name\":\"Africa Press | Nigeria | Homepage\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister - Nigeria","description":"The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister","og_locale":"en_US","og_type":"article","og_title":"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister","og_description":"The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the ...","og_url":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister","og_site_name":"Nigeria","article_published_time":"2023-11-20T20:55:59+00:00","article_modified_time":"2023-11-20T23:13:58+00:00","og_image":[{"width":720,"height":435,"url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister","datePublished":"2023-11-20T20:55:59+00:00","dateModified":"2023-11-20T23:13:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister"},"wordCount":341,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg","keywords":["Africa Press","Africa Press-Nigeria","Nigeria","revenue","Subsidy Removal","Wale Edun"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister","url":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister","name":"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister - Nigeria","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg","datePublished":"2023-11-20T20:55:59+00:00","dateModified":"2023-11-20T23:13:58+00:00","author":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#primaryimage","url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg","contentUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700505667.120121.jpg","width":720,"height":435,"caption":"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-removal-fg-records-over-n1tn-monthly-revenue-inflow-minister#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/nigeria\/"},{"@type":"ListItem","position":2,"name":"Subsidy Removal: FG records over N1tn monthly revenue inflow \u2013 Minister"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/nigeria\/#website","url":"https:\/\/www.africa-press.net\/nigeria\/","name":"Africa Press | Nigeria | Homepage","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","url":"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/101461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/comments?post=101461"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/101461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media\/101460"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media?parent=101461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/categories?post=101461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/tags?post=101461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}