Non-oil revenue has tremendously improved, says accountant-general

Oluwatoyin Madein, accountant-general of the federation, says the nation’s non-oil revenue has “tremendously” improved.

Madein spoke on Tuesday at an interactive session organised by the house of representatives committee on finance.

The accountant-general said several measures are being put in place by the government to block leakages and improve revenue generation.

She said while the government continues to reap the rewards of oil production, there is a shift in focus towards the non-oil sector, which has witnessed a “substantial increase in revenue” over the past few months.

“The non-oil revenue has tremendously improved in the last few months which have been helping in the kind of inflows that come to the federation account,” she said.

Madein said efforts are on to automate the revenue reconciliation process within the various ministries, departments and agencies to ensure that it works seamlessly.

“Improving the revenue reconciliation is ongoing and it used to be manual, which makes it very tedious,” she said.

“We are working on having access to the systems. We are even having a series of systems being deployed — a revenue monitoring information system and also the reconciliation system. They are working on them.

“We will expedite action to ensure those systems become operational before the end of the year so that the reconciliation would be much easier than it used to be.”

The accountant-general added that the government is also revamping the mines and solid mineral sector to ensure that it becomes an important source of revenue.