Nigeria must focus on productivity to bridge revenue demand gap – Osinbajo

The Vice President of Nigeria, Prof Yemi Osinbajo has said that the country must focus on boosting its productivity to bridge revenue demand.

Osinbajo stated this on Monday in his remarks at the 28th Nigeria Economic Summit in Abuja.

Speaking on the solutions to Nigeria’s revenue challenge, Osinbajo said creating a freer business environment and boosting local production is vital.

“But I think it is increasing revenues that should engage most of our attention. We have already seen real improvements in our non-oil revenues, but our focus must now be on productivity or encouraging value addition.

“Productivity and value addition means the creation of traceable value; it means jobs and opportunities and it means more tax revenues”, he stated.