TMSG, TMV Hail Tinubu Administration Record Revenue, Expanded Cash Transfer Program

Two pro-government groups, the Tinubu Media Support Group (TMSG) and the Tinubu Media Volunteers (TMV), have applauded recent reports highlighting President Bola Tinubu’s administration’s significant achievements.

TMSG celebrates the Federal Inland Revenue Service’s (FIRS) record-breaking revenue collection, while TMV emphasises the expansion of the federal government’s cash transfer program.

TMSG praised the FIRS for outperforming its revenue target for 2024 by a large margin. The agency collected N21.70 trillion, exceeding its target of N19.4 trillion and representing a 76% increase over 2023’s numbers.

This amounts to more than the entire national budget for 2023. The group emphasised that this was accomplished without raising taxes, citing a 97% increase in non-oil tax revenue and a 35% increase in oil revenue.

TMSG attributed this success to improved infrastructure, cutting-edge technology (particularly TaxProMax), and the Tinubu administration’s promotion of a business-friendly environment.

Emeka Nwankpa, Chairman of TMSG, stated that the achievement demonstrates the administration’s commitment to increasing revenue generation, despite initial doubts about the feasibility of doubling national revenue within three years.

The group also expressed confidence in future revenue increases following the passage of pending tax reform legislation, which aims to consolidate revenue collection under a single agency and adjust tax burdens to benefit low-income earners and small businesses.

They anticipate that the tax-to-GDP ratio will approach 15%. With the 2025 budget set at N49.74 trillion, TMSG anticipates even stronger performance from revenue-generating agencies this year.

Separately, TMV celebrated the expansion of the federal government’s cash transfer program, citing a World Bank report indicating that beneficiaries increased from 30.35 million in January 2024 to 32.21 million in January 2025.

This translates to an increase of 1.86 million beneficiaries between June 2024 and January 2025. TMV Chairman Chukwudi Enekwechi emphasised the program’s positive impact on poverty reduction and mitigating the effects of fuel subsidy removal and inflation.

The group emphasised the program’s transparency, which is aided by digital processing via NINs and BVNs, and expressed confidence that the number of beneficiaries will reach 56 million by December 2025.

TMV sees the program as an important part of the Tinubu administration’s “Renewed Hope Agenda.”