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In a significant move toward economic reform and fiscal responsibility, the Federal Government of Nigeria has initiated the Revenue Optimization and Assurance Project (REV-OP). Through digital transformation, the program aims to better public financial management, improve transparency, and stop income leaks.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement at the Ministry of Finance headquarters in Abuja. He called the project a “clean break from past practices.” REV-OP is the first step toward a more stable and responsible financial future for Nigeria, Edun underlined. He said, “This is not a rebrand, but a fundamental shift towards efficiency and transparency in the management of public resources.”
The three main pillars of REV-OP are efficiency, transparency, and digital transformation. In order to facilitate real-time monitoring of revenue-generating agencies and encourage data-driven decision-making, the project presents a technology-driven framework. Mohammed Manga, the Ministry of Finance’s Director of Information and Public Relations, stated that REV-OP’s goal is to increase revenue mobilization in order to foster sustainable growth and economic resilience.
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A dedicated Project Management Team is in charge of day-to-day execution, while a high-level Steering Committee makes up REV-OP’s governance structure. With frequent meetings to maintain momentum, this guarantees efficient coordination and alignment with project objectives.
Along with technological partners from the private sector, the launch was attended by senior members from the Office of the Accountant General, the Federal Inland Revenue Service (FIRS), and the Central Bank of Nigeria (CBN). The partnership demonstrates the government’s dedication to a multi-stakeholder governance framework.
Focusing on increasing domestic income collection, reducing leakages, and establishing a fiscally stable environment that will draw investments and propel national growth, REV-OP is in line with President Bola Ahmed Tinubu’s economic strategy. It is anticipated that the program will dramatically improve government revenue collection, strengthen public finance accountability, and establish the groundwork for a more robust Nigerian economy.
Additionally, the Federal Government has established the ASIF Investment Platform to promote high-impact investments in manufacturing, healthcare, renewable energy, and infrastructure throughout Africa as part of a larger economic strategy.
