The Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Muhammed Bello Shehu, has stated that traditional revenue generation methods alone will not be sufficient to drive Nigeria’s economic growth.
Speaking during a meeting with the National Space Research and Development Agency (NASDRA) at the Commission’s office in Abuja, Shehu emphasized the need for innovative approaches to revenue optimization.
According to a statement by RMAFC spokesperson Maryam Umar Yusuf, the visit marked the launch of the Presidential Initiative on Revenue Optimization and Digitalization through Space Technology.
Shehu highlighted that economic recovery depends on discovering new revenue streams, stressing that President Bola Tinubu’s Renewed Hope Agenda can only be achieved by implementing modern, technology-driven revenue strategies.
“We are entering a new era where innovation, creativity, and collaboration fuel economic growth. Traditional revenue sources are not only outdated but also insufficient to meet the evolving needs of our nation,” he stated.
He called for a strategic, technology-driven approach to revenue mobilization, emphasizing that efficient collection, accountability, and proper utilization of revenue are essential for national development. According to him, optimizing revenue sources is not just a necessity but a collective responsibility for all stakeholders.
“We are on the verge of writing a new chapter in Nigeria’s leadership. The commitment of stakeholders gathered here is crucial to enhancing revenue collection and utilization—this is a task we must accomplish for our country,” Shehu added.
Meanwhile, NASDRA Director-General Matthew Olumide Adepoju underscored the potential of space technology in revenue generation. He noted that through advancements in artificial intelligence, robotics, and space innovation, Nigeria could generate up to $50 billion annually while also bolstering national security.
