President Bola Tinubu has stated that the federal government is looking to raise about $10 billion in revenue to boost liquidity in the foreign exchange market.
Tinubu who was ably represented by the vice president, Kashim Shettima, disclosed this on Tuesday in Abuja during the inaugural Public Wealth Management Conference.
The event was organized by the Ministry of Finance Incorporated (MOFI) with the theme, “Championing Nigeria’s Economic Prosperity”.
According to the president, his administration will generate millions of jobs by leveraging Nigeria’s extensive public assets to maximize and double the nation’s Gross Domestic Product (GDP).
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Reading the President’s Keynote address, VP Shettima stated, “The Federal Government set a goal to raise at least $10 Billion in order to increase foreign exchange liquidity, a key ingredient to stabilise the Naira and grow the economy.
“At the core of this is ensuring optimal management of the assets and investments of the Federal Government towards unlocking their revenue potential. This includes our bold and achievable plan to double the GDP growth rate and significantly increase the GDP base over the next 8 years.”
However, Tinubu pointed out that years of mismanagement and underutilization have affected Nigeria’s assets, both within and beyond its borders, resulting in revenue losses that have impeded economic growth.
