FGN LAUNCHES PROJECT PHOENIX TO ENHANCE REVENUE GENERATION

Oru Leonard 

In its renewed determination to revitalize the nation’s economy, the Federal Government of Nigeria has launched Project Phoenix, a transformative initiative designed to enhance revenue generation and collection in the lottery and gaming sector

In an inaugural meeting of the Joint Committee for the implementation of Revenue Assurance Platform (RAP), which will oversee reforms in Nigeria’s lottery and gaming sector, presided by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun in Abuja today, informed that Project Phoenix aims to establish a transparent and efficient revenue collection system that maximizes government earnings and protects citizens from fraud.

The project will also strengthen regulation, ensure compliance, recover outstanding revenues from operators, and implement advanced monitoring systems to safeguard consumers.

The project’s key deliverables include the successful implementation of the Revenue Assurance Platform (RAP), recovery of outstanding revenues, and policy recommendations to further improve the sector.

In his remarks during the meeting, the Honourable Minister emphasized the importance of boosting domestic resources to support Nigeria’s economy and social programmes.

He explained that the lottery and gaming sector, through RAP, will ensure transparent revenue collection while protecting consumers from fraudulent activities.

HM Edun, therefore, urged all committee members to work collaboratively, assuring them of the government’s support in achieving the project’s goals.

As Nigeria’s gaming sector is poised for growth, this initiative demonstrates the government’s commitment to transparency and accountability.

Thus, with Project Phoenix, Nigeria is taking a significant step towards harnessing the potential of the lottery and gaming industry to drive socio- economic development of the country.

(FMOF Press)

Cover Photo Caption: From L- R, Comrade O. Ogenyi – Byuan Resources;
Barr. Yakubu Bello Bashir – Byuan Resources; Dare Daramola; Mohammad Jiya – NFIU; Ebelo Friday. – EFCC;
Agboro Micheal – ICPC; Tosin Adeyanju – ES-NLTF; Wake Edun OFR- Honourable Minister of Finance and Coordinating Minister of the Economy; Ayodeji Odusote – FMF and Olaniran Tomiwa – FMF in a group photograph after the inaugural meeting of the Joint Committee for the implementation of Revenue Assurance Platform (RAP), held
at the Federal Ministry of Finance Headquarters, Abuja, today.