Police Minister Charges Stakeholders to Shore Up IGR

Minister of Police Affairs, Dr. Mohammad Dingyadi, yesterday charged stakeholders to evolve strategies to shore up Internally Generated Revenue(IGR) by leveraging on changing technologies.

He made this known during a two-day stakeholders’ zonal conference on IGR tagged: “Strategies At Enhancing Internally Generated Revenue” in Abuja.

The minister, who was represented by the Permanent Secretary, Mr. Temitope Fashedemi, said fiscal resources were urgently needed to stimulate the economy and provide the necessary dividend of good governance, noting that leveraging on the fast pace of changing technology in the recognition recording accounts and reporting of revenue to block leakages, losses, and wastages.

“There is no gainsaying the fact that Nigeria’s main source of forex and funding the national budget remains crude oil export whose price is determined by externalists outside our control”.

Dingyadi stated that the worldwide lockdown due to the ravaging pandemic had drastically reduced the global demand for oil which affected the economy.

According to him,” there has been a drastic fall in capital importation both foreign portfolio investment due to uncertainty created by the pandemic. The usual remittances by Nigerians in Diaspora were also reduced and all these reduced the availability of FOREX in the country.

According to him, “there has been a drastic fall in capital importation both foreign direct investment and foreign portfolio investment due to the uncertainty created by the pandemic. The usual remittances by Nigerians in diaspora were also reduced and all these reduced the availability of Forex in the country”.