FG Dismisses Claims of Policy Change on Revenue Deductions

By Kazeem Ugbodaga

The Federal Government has debunked reports claiming that it has stopped revenue-generating agencies from deducting their cost of collection at source.

In a statement signed by the Director of Information and Public Relations, Mohammed Manga, Federal Ministry of Finance, the FG described the circulating reports as “inaccurate and misleading,” stressing that no such directive has been issued.

“At no point during his remarks at the Nigeria Development Update (NDU) programme hosted by the World Bank did the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announce or imply any change to the existing policy on the cost of collection deductions,” the statement read.

“For the avoidance of doubt, there has been no policy change regarding the deduction of costs of collection at source by revenue-generating agencies. The current framework remains in effect,” it added.

The FG explained that what is currently ongoing are policy discussions initiated under the directive of President Bola Tinubu to review the cost of collection structure.

“These discussions are part of broader efforts to enhance transparency, efficiency, and value-for-money in public financial management. However, no final decision has been made on this matter,” Manga stated.

Reassuring stakeholders and the public, the FG noted, “Revenue operations continue uninterrupted, and any future adjustments will be guided by due process, stakeholder engagement, and clear communication.”

The statement further appealed to the media to verify reports from official sources before publication.

“We urge media organisations to seek clarification from official sources before publishing information that may cause unnecessary confusion,” it concluded.