The Accountant General of the Federation (AGF), Mrs. Oluwatoyin Madein, has said while government revenue has been declining, its expenditure has continued to rise.

She said the government needed to put urgent measures in place to address the situation.

Madein said this during an interactive session on the 2024/2026 Medium Term Expenditure Framework and Fiscal Strategy Paper with the House of Representatives Committee on Finance.

The AcGF assured the lawmakers that the current government was putting in place measures to shore up the revenue profile of the country.

She said the government was putting place a series of efforts to block revenue leakages and increase generation.

The revenue generation and its collection are dwindling, in comparison with the expenditure set against the money collected.

Presently, a series of efforts is ongoing to shore up revenue, block leakages and improve on the revenue that is being brought into the federation, Madein said.

The AcGF noted that while revenue was not improving, expenditure had not also been helping matters, especially with the current economic reality where the prices of things are going up regularly.

She said: The expenditure too is on the rise and, definitely, the strategies to increase revenue must be worked upon on a continuous basis to ensure that we are having funds to meet the expectations of Nigerians.

Madein stressed the need for the National Assembly to assist her office and revenue generation agencies with all the plans, strategies, ideas to support the efforts to increase revenue generation. (The Nation)