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The Revenue Mobilisation Allocation and Fiscal Commission has announced plans to deploy space technology as part of a presidential initiative to optimise revenue generation and enhance digitalisation efforts.
The initiative was unveiled at a stakeholders’ meeting held at the commission’s boardroom on Thursday in Abuja.
Speaking at the event, the Chairman of RMAFC, Dr Mohammed Shehu, described the initiative as a significant milestone in Nigeria’s efforts to enhance fiscal efficiency.
He emphasised that the move aligns with President Bola Tinubu’s economic recovery agenda, which prioritises revenue enhancement by discovering new and innovative revenue streams.
Shehu recalled the President’s inaugural speech, where he emphasised the need for an expanded revenue base to drive economic growth.
He stated that the success of the administration’s Renewed Hope Agenda depends largely on the adoption of modern revenue-generation methods, with space technology offering a cutting-edge solution to track and optimise revenue sources across various sectors.
He acknowledged the National Space Research and Development Agency as a key partner in the initiative and commended the agency for its role in conceptualising the project.
According to him, space-based solutions have been successfully deployed in other countries to boost revenue by improving data collection, monitoring taxable assets, and enhancing economic intelligence.
He emphasised that traditional methods of revenue collection are no longer sufficient and called for the adoption of modern, technology-driven solutions to meet the country’s growing economic needs.
He stressed that the importance of using modern methods of revenue generation cannot be overemphasised and urged Nigeria, as a developing economy, to leverage this innovation to maximise its revenue potential.
Shehu said, “We stand at the threshold of a new era, where innovation, creativity, and collaboration can drive economic growth and progress.
“It is indeed not an overstatement to say that the traditional sources and methods of revenue generation, apart from the fact that they are no more in vogue, are, most importantly, not sufficient to meet the evolving needs of our great Nation.
“Therefore, as key Stakeholders, we must think innovatively and collaboratively to unlock new opportunities for economic growth and development, all in the interest of our beloved country.
“At this juncture, let me appreciate the Management and Staff of the National Space Research and Development Agency, the brain behind this noble idea of using space technology to unlock the revenue potential that abounds in the country.
“The importance of using this modern method of revenue generation cannot be overemphasised.”
The chairman also highlighted the commission’s constitutional responsibility in monitoring revenue accruals and disbursements to the three tiers of government.
He noted that improving fiscal efficiency and advising governments on revenue optimisation strategies remain key mandates of the RMAFC. To achieve this, the commission has urged all stakeholders, including ministries, agencies, and state governments, to collaborate with NASRDA and the RMAFC to ensure the full realisation of this transformative project.
Shehu called on relevant stakeholders to work together in positioning Nigeria as a leader in revenue innovation.
The commission reiterated its commitment to fostering economic development through strategic technology adoption, which will enhance revenue efficiency, reduce leakages, and strengthen national financial management.
With the official launch of the initiative, the RMAFC and NASRDA are expected to develop an implementation framework detailing how space-based technology will be utilised to track economic activities, resource allocations, and revenue compliance across Nigeria.
Also, speaking at the event, the Director-General of NASRDA, Dr Matthew Adepoju, reaffirmed the agency’s commitment to leveraging space science, innovation, and technology to boost Nigeria’s revenue generation and tackle economic leakages.
Adepoju described the collaboration between NASRDA and RMAFC as a critical step towards fulfilling the Renewed Hope Agenda of President Bola Tinubu, which aims to revitalise the country’s economy through enhanced revenue generation strategies.
According to Adepoju, a preliminary analysis by NASRDA indicates that Nigeria can generate up to $50bn annually through the integration of space technology into revenue tracking and economic activities.
He emphasised that achieving this ambitious target requires collaboration, stressing the need for stakeholder engagement with all revenue-generating agencies of the Federal Government.
Adepoju lamented that at various international forums, Nigeria has been referred to as a “blind spot” within the Gulf of Guinea, a classification he found unsettling.
He asserted that with Nigeria’s capabilities in space technology, the country should not be regarded as lacking visibility in the global economic and security framework.
Beyond revenue generation, Adepoju highlighted the role of space technology in enhancing national security.
He explained that satellite analytics had shown that internal security threats are often linked to solid minerals and other natural resources, making it imperative to monitor and regulate extractive activities using advanced technology.
He called for multi-agency collaboration to ensure that the Presidential Initiative on revenue generation through space technology achieves its full potential.
He further noted that Nigeria’s infrastructural development depends heavily on a robust revenue base, urging government agencies to align their efforts for equitable distribution and better resource utilisation.
