President Muhammadu Buhari has constituted a committee to raise additional revenues from oil and other sectors to support the funding of the 2017 budget.
The Minister of Budget and National Planning , Sen. Udoma Udo Udoma, made this known at the public presentation of the 2017 budget proposal in Abuja on Monday.
He stated the report of the committee would be ready in time for the National Assembly to take into account while considering the budget next year.
The minister said, “We should not allow ourselves to be discouraged by those who say we can’t find the money to fund the spending required to implement this budget.
“We must, and we can, find the resources.
“We will challenge our revenue generating agencies, particularly the FIRS and Customs to improve their efficiencies and broaden their reach so as to achieve the targets set for them in the 2017 budget.
“Indeed, a cabinet committee has been set up by President Muhammadu Buhari to come up with innovative and creative ways to raise additional revenues from the oil sector, and other sectors, to support the funding of the 2017 budget.
“The President is determined that we must find the resources; we must fund this budget; we must implement this budget; we must exist recession and we must move back on the path of growth.
“The report of that committee will be ready in time for the National Assembly to take this into account in considering the budget in the New Year, when they return from their Christmas recess.’’