The Federal Government of Nigeria has officially launched the Revenue Optimisation and Assurance Project, popularly called REV-OP, as a new step to reduce revenue leakages, improve transparency, and strengthen Nigeria’s financial future. The project was unveiled in Abuja on Wednesday, June 19, 2025, by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Speaking during a meeting with top government officials and private-sector stakeholders, Mr. Edun described the new project as a “major turning point” in the way public funds are managed in the country. He stressed that the initiative is not a continuation of the past but a total departure from the old ways of handling government revenue.
“This is not a rebranding of any old or failed system. It is a fresh start — a clean break,” the minister said. “With REV-OP, we are beginning a new chapter that will lead to a more secure, accountable, and transparent financial management system for Nigeria.”
The unveiling was attended by senior representatives from important government agencies such as the Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation, and some key technology partners from the private sector. These stakeholders are expected to play important roles in the successful rollout and implementation of REV-OP across all levels of government.
As part of efforts to ensure smooth coordination and effective monitoring of the project, the Ministry of Finance has created a two-layered management structure. This includes a Steering Committee to guide the overall direction of the project and a dedicated Project Management Team to handle daily operations. The ministry said that daily review meetings will be held to track progress, solve challenges quickly, and maintain focus on the core goals of the initiative.
According to a statement released by the Ministry of Finance, REV-OP directly supports President Bola Ahmed Tinubu’s economic reform agenda, which seeks to increase Nigeria’s internally generated revenue, close gaps that allow leakages, and create a stable and attractive business environment for investors.
“REV-OP will bring in more income for the government, strengthen public trust, and ensure that funds are properly used to deliver critical services and infrastructure to the people,” the ministry noted.
The project also aims to make government revenue collection smarter and more efficient by using modern digital tools and real-time data tracking. This will help to reduce human errors, cut down on fraud, and allow faster decision-making. With proper tracking, the government will be better able to monitor revenue coming from taxes, levies, fees, and other sources.
Mr. Edun emphasized that transparency will be the core principle of the REV-OP project. “We must be able to see where every naira goes, and we must be able to account for it,” he said. “With technology and proper oversight, this project will help stop leakages, improve compliance, and ensure every revenue source is properly accounted for.”
The government also believes that REV-OP will help restore confidence in the country’s financial system and public institutions. According to Edun, better revenue assurance and optimization will improve Nigeria’s creditworthiness, increase capital inflows, and allow the government to meet its obligations without relying heavily on loans or international aid.
Experts in attendance welcomed the project and expressed optimism that it could lead to real changes if properly executed. They advised the government to back the REV-OP initiative with strong political will, ensure inter-agency collaboration, and remain committed to transparency and public accountability.
With Nigeria facing numerous economic challenges, including high inflation, weak revenue generation, and growing debt, REV-OP is seen as one of the key tools that could help the country regain control of its finances. Government officials say the goal is not just to collect more money, but to make sure the money is used wisely and in ways that support long-term growth and development.
The Federal Ministry of Finance has promised to carry Nigerians along every step of the way. Regular updates will be shared, and independent reviews will be done to ensure the REV-OP project delivers real benefits to the country and its citizens.
