The Minister of Marine and Blue Economy, Adegboyega Oyetola, has named revenue leakages, inefficiencies and governance gaps, as banes against his ministry’s boons, which hindered the ability of the sector to fully optimise it’s internally generated revenue.
Addressing participants at a two-day workshop titled “Modern Audit Techniques as a Panacea to Improve Internally Generated Revenue, held in Abuja, the Minister said the workshop was in harmony with the federal government’s revenue diversification stream with a view to further revamping, rejuvenating and repositioning the economy of the country.
Speaking at the workshop through the Ministry’s Permanent Secretary, Olorutola Olufemi, Oyetola, as reported, accentuated the importance of the adoption of the modern audit techniques.
According to him, “the adoption of the modern audit techniques is critical for maximizing revenue collection, minimizing wastage, and improving governance in the maritime sector.”
In his further emphasis on the need to adopt modern audit techniques, the Minister said it’s through the adoption of global best practices that the significant growth opportunities offered by marine and blue economy would be harnessed and utilized.
Other prominent stakeholders and speakers at the event were the Auditor-General of the federation, Shaakaa Chira, who, as reported, was represented by the Director of the Audit Department, Uchechukwu Ogwe, and the Director of Internal Audit at the federal ministry of Marine and Blue Economy, Jumbo Obenachi Renner, amongst others.