Renowned financial expert, Johnson Chukwu, has underscored the importance of adopting a two-pronged approach to significantly enhance federal government revenues. This comprehensive strategy involves ramping up crude oil production and simultaneously expanding the tax base.

Chukwu asserts that maximizing oil output will not only increase earnings from the nation’s primary export commodity but also attract vital foreign exchange. This, in turn, will have a positive impact on the country’s balance of payments and overall economic stability.

Concurrently, broadening the tax base will ensure a more inclusive and sustainable revenue stream, reducing reliance on a single income source. This diversified approach will also promote economic growth, stimulate entrepreneurship, and create employment opportunities.

By implementing this dual strategy, the government can effectively mitigate the risks associated with dependence on a single revenue source, foster a more resilient economy, and ensure a brighter financial future for the nation. Chukwu’s expert advice offers a valuable roadmap for policymakers seeking to revitalize the country’s economic landscape.