Nigeria's debt pile hit 152 trillion naira while Finance Minister Olawale Edun told senators the government is ditching heavy borrowing for aggressive revenue collection after missing 30 trillion naira in targets this year. The feds projected 40 trillion coming in but only grabbed 10 trillion, and Edun admitted most of the debt surge came from transparency moves that exposed unrecorded Ways and Means financing plus exchange-rate adjustments that added 80 trillion to the books without actual new loans.
Senate Finance Committee chair Sani Musa warned the tax reform rollout needs serious nationwide education campaigns because the public has zero clue what's dropping next year, and confusion will tank the whole thing. The committee bumped FIRS revenue targets from 31 trillion to 35 trillion for the coming year while complaining about multiple budget cycles happening at once that eat through collected cash.
Edun said President Bola Tinubu wants a mass savings mobilization scheme through public-private partnerships that pulls in tens of millions of regular citizens instead of just pension holders and stockbrokers.
Senate Finance Committee chair Sani Musa warned the tax reform rollout needs serious nationwide education campaigns because the public has zero clue what's dropping next year, and confusion will tank the whole thing. The committee bumped FIRS revenue targets from 31 trillion to 35 trillion for the coming year while complaining about multiple budget cycles happening at once that eat through collected cash.
Edun said President Bola Tinubu wants a mass savings mobilization scheme through public-private partnerships that pulls in tens of millions of regular citizens instead of just pension holders and stockbrokers.
