In a bid to ensure transparency, curb revenue leakages, and strengthening public financial management, the Federal Government has launched the Revenue Optimisation and Assurance Project (REV-OP).
A statement from the Ministry of Finance on Thursday said the initiative was formally unveiled by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at a high-level session at his office in Abuja.
According to the statement, the REV-OP project represents a significant policy shift intended to recalibrate Nigeria’s revenue systems using technology-driven, data-backed tools.
“This is not a rebrand, but a clean break,” Edun said during the event, describing REV-OP as the beginning of a more secure and accountable financial future for the country.
The initiative is one of the administration’s key fiscal reforms, aligned with President Bola Tinubu’s economic strategy to boost internally generated revenue and reduce dependence on borrowing.
At its core, the REV-OP framework incorporates digital transformation and operational transparency. It is designed to streamline government revenue collection processes, improve fiscal reporting, and tighten oversight of revenue-generating agencies.
Key government institutions represented at the launch included the Federal Inland Revenue Service (FIRS), the Central Bank of Nigeria (CBN), and the Office of the Accountant General of the Federation, along with several private-sector technology partners.
The government has also established a two-tier governance structure to oversee the implementation and execution of the project.
This includes a Steering Committee responsible for policy oversight and a dedicated Project Management Team tasked with driving day-to-day coordination. Daily progress meetings are expected to hold to assess the project’s momentum and support real-time decision-making.
By leveraging modern technology, the REV-OP project aims to address long-standing inefficiencies in public revenue collection and reporting. The system is expected to close systemic gaps that have historically led to under-remittances and fragmented revenue flows, especially among key government agencies.
The Ministry stated that the REV-OP initiative aligns directly with President Tinubu’s drive to improve the fiscal position of the federal government, attract investor confidence, and build a resilient, transparent revenue environment.
The reforms are also geared towards supporting the administration’s medium-term development goals by improving public sector accountability and enabling data-driven fiscal policy.
As government expenditure rises in response to economic reform, infrastructure investment, and social interventions, boosting non-oil revenue has become a critical component of Nigeria’s macroeconomic framework. The REV-OP project is expected to play a central role in driving this fiscal rebalancing effort.
