The Federal Inland Revenue Service (FIRS) and the Ministry of Police Affairs worked together to investigate new revenue streams as police stakeholders convened in Enugu to discuss ways to boost revenue.
With the theme “Evaluation of Internally Generated Revenue in the Ministry,” the conference brought together FIRS facilitators and desk officers from police commands throughout Nigeria’s geopolitical zones.
Permanent Secretary Mr. James Sule stressed the importance of reviewing the internally generated revenue (IGR) impact assessment and aligning with the current administration’s goal of integrating revenue collection functions. He pointed out that in order to increase funding for development projects, President Tinubu has ordered income generation MDAs.
The significance of revenue profiles in a nation’s economic development and sustainability was emphasized by Professor Abdulhamid Ozohu-Suleiman. Olusegun Kayode Egbetokun, the Inspector General of Police, stressed the importance of defining the police’s revenue source while citing the 2021 Federal Executive Council-approved Police Specialized Services Automation Project (POSSAP).
Among the main areas of attention were:
Enhancing Revenue Generation: Investigating fresh sources of income and making the most of current ones.
Accountability and transparency: guaranteeing prudent financial management and efficient use of resources.
Using data to reduce revenue loss and improve professionalism is known as data intelligence.
Fairness and Accountability: Maintaining values to gain the confidence and trust of stakeholders.
By addressing these issues, the police department hopes to improve its capacity to generate income, which will ultimately help the country.
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