The Federal Government has launched the Revenue Recovery Exercise in Abuja to improve fiscal discipline and strengthen accountability. The initiative, unveiled on Monday, carries the theme “Engaged Consultants for the Revenue Recovery Exercise.” It aims to recover funds due to the federation and ensure better transparency in revenue management.
Officials explained that the program targets unremitted and underreported funds across government agencies. It seeks to track and reconcile all public income through tighter monitoring and verified reporting. By engaging expert consultants, the government hopes to close gaps that have weakened Nigeria’s revenue system for years. Each consultant will work with relevant agencies to confirm collections and return missing funds.
This marks another firm step toward improved financial control. It also reflects the administration’s ongoing effort to protect public resources. Over the years, weak systems and poor oversight have caused major losses. Through this exercise, the government aims to reverse those losses and rebuild trust in public finance.
The Revenue Recovery Exercise also supports wider reforms in fiscal policy. As oil revenues remain uncertain, Nigeria is focusing more on non-oil income. The Federal Inland Revenue Service continues to drive this shift through expanded tax collection. However, the success of these efforts depends on eliminating waste and securing all existing revenue streams.
The new program therefore complements the government’s economic reform goals. It introduces stronger checks to prevent leakages while encouraging full compliance among revenue agencies. These measures are designed to make remittances more transparent and predictable. They will also ensure that every kobo meant for the federation account is properly recorded and delivered.
Officials have highlighted another key benefit of the initiative. It creates a more transparent environment for national budgeting and public spending. With better recovery of lost funds, more resources can flow into infrastructure, health, and education. This direct link between accountability and social progress makes the exercise even more vital.
Furthermore, involving independent consultants adds credibility and objectivity. Their experience will help identify irregularities quickly and promote fair reporting. This approach ensures that every stage of the process remains clear and auditable. It also builds public confidence that the exercise is not only corrective but also preventive.
The program signals a cultural shift in how Nigeria handles its finances. It is designed to strengthen systems, promote integrity, and uphold fiscal responsibility. Every recovered fund will demonstrate the impact of discipline and proper oversight. Step by step, the initiative can reshape how government institutions manage money and measure performance.
The Revenue Recovery Exercise therefore represents more than a one-time correction. It shows a lasting commitment to responsible governance and economic stability. Through collaboration, technology, and consistency, Nigeria is taking a decisive step toward transparent and accountable financial management.
