Adedeji Says Reforms Have Raised Government Revenue to N40trn

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Adedeji Says Reforms Have Raised Government Revenue to N40trn

ABUJA — Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service, says government revenue has risen from about N12 trillion to N40 trillion since the removal of the fuel subsidy and the foreign exchange reforms. In a television interview, he said domestic refining capacity has grown from about 30,000 to about 700,000 barrels per day and that about 90 per cent of VAT revenue goes to the states. He said the government is taxing prosperity, not poverty.

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