FG Launches REV-OP to Curb Revenue Leakages, Improve Public Transparency

By Adedapo Adesanya

The federal government has launched the Revenue Optimistion and Assurance Project (REV-OP) as part of efforts to curb revenue leakages, improve transparency, and ensure long-term economic sustainability in Nigeria.

The project was unveiled on Wednesday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, during a meeting with stakeholders in his office.

Describing the initiative as a significant milestone in public financial management, Mr Edun said that the project is not a rebranding of old systems but a clean break from previous practices.

He added that the project marks the start of a more secure and accountable financial future for Nigeria.

The event which was attended by top officials from the Federal Inland Revenue Service (FIRS), the Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation, and several private-sector technology partners, was to ensure effective delivery and oversight.

The government also instituted a two-tier governance structure for the project, comprising a Steering Committee and a dedicated Project Management Team.

According to the ministry, daily coordination meetings will be held to maintain momentum and drive timely execution of key objectives.

“The REV-OP initiative aligns closely with President Bola Tinubu’s economic vision to increase domestic revenue, plug leakages, and build a stable, investor-friendly fiscal environment.

“As Nigeria embarks on this transformative journey, the Revenue Optimisation and Assurance Project is poised to drive economic growth, improve revenue collection, and enhance transparency in public financial management. With REV-OP, the Federal Government is committed to building a more prosperous and sustainable future for the nation,” a statement from the Ministry said.