Boosting Governance and Revenue Generation in Nigeria – Insights from Joko Okupe

In a recent interview conducted in Lagos, Joko Okupe, the Chief Executive Officer of Modo Ante, a prominent governance, public sector, and political consultancy firm, emphasized the critical need for the Nigerian government to pursue new revenue-generating avenues to facilitate more effective governance and sustained economic growth.

Okupe emphasized that Nigeria possesses several untapped sectors with significant potential for revenue growth. Furthermore, he highlighted the opportunity to further enhance existing revenue-generating government entities to create new streams of income.

According to Okupe, the key to achieving this lies in harnessing technology to enhance public service delivery and efficiency, thereby generating new revenues for the government. In response to this imperative need for sustainable revenue generation, Okupe announced an upcoming summit on national revenue growth scheduled for March 27th and 28th, 2024. The summit aims to convene experts, policymakers, and stakeholders to explore innovative approaches to strengthen government revenue streams.

During the interview, Okupe drew attention to the substantial national debt inherited by the administration, which amounted to over ₦87.38 trillion as of the end of June 2023. This heavy debt burden has resulted in low government liquidity, currency devaluation, high inflation rates, increased commodity prices, and a stagnant economy. In light of these challenges, Okupe stressed the critical need for new revenue sources to foster sustainable economic growth and development.

As a strategic initiative towards achieving this objective, Okupe advocated for leveraging Nigeria’s strengths in the entertainment, sports, and extractive mining industries to drive revenue generation and establish new income streams for the government. By capitalizing on the potential of these sectors, Nigeria could unlock new opportunities for economic advancement and governance improvement.

In conclusion, Okupe’s insights underscore the significance of exploring alternative revenue streams to support government operations and drive sustainable economic growth in Nigeria. As the nation contends with the challenges posed by its heavy national debt burden, the pursuit of new revenue-generating opportunities is imperative for overcoming these obstacles and charting a path towards a more prosperous future.