She said this shows strong social partnership government builds with the people.
To ensure that larger proportion of taxable population pay taxes, Osinbajo said Federal Inland Revenue Service devised policies for tax compliance, a measure he said had been able to increase the number of taxpayers from 14 million in May a year ago to 19 million.
Mohammed, along with the minister of transportation, Rotimi Amaechi, Tuesday, May 8, led a team of over 30 journalists on a tour of the fabrication plant of the project in Papalanto, Ogun state.
He said the reason why mismanagement of funds thrived in the past was that oil monies were readily available thus reducing the necessity for people to pay taxes. We have built a social partnership with the people.
"Without federal allocation, most states can not survive; Lagos state alone takes in as much Internally Generated Revenue as 31 states combined; it tells you how little the other states manage to bring in Internally Generated Revenue", he said. "We are optimistic but we will remain vigilant", Adeosun added.
The vice president said that the government was taking practical steps to reduce the country's over-reliance on oil revenue, adding that this was why Nigeria's tax system was undergoing various forms of reviews.
She pointed out that the administration was driving the mobilisation of more revenues to sustain Nigeria's economic growth, adding that the current administration was paying attention to electricity which it considered critical in expanding the economy.
"We saw oil at $140 per barrel and we had nothing to show for it".
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Editor's Note: We will provide more information at the News Media Teleconference call on Thursday, May 10, 11 a.m. He said it would be "very hazardous" if a volcanic vent were to open under the facility where the fuel is stored.
He said the nation had to understand how important the private sector was, "as entrepreneurs are necessary to grow the economy".
In the World Bank Mission are the Bank's Executive Directors for Switzerland, France, Italy, Nordic, Peru, Germany, South Africa (representing Angola, Nigeria and South Africa), Burkina Faso (representing Francophone Sub-Saharan Africa), Zimbabwe (representing Anglophone Sub-Saharan Africa), United Kingdom and Indonesia.
The delegation will discuss ongoing World Bank projects and Nigeria's development priorities with the Vice President, Minister of Finance and the state governors.
The projects numbering about 20 date back to April 2015.
"We have the Conditional Cash Transfer, a programme in which we are getting full support from the World Bank".
The two closed projects include $75 million project initiated on April 29, 2015 to support Edo State Fiscal Improvement and Service Delivery Operation and the $200 million Third Lagos State Development Policy Operation aid which began on June 26, 2015.
Osinbajo stated that the present administration was determined to change the state of affairs and also determined to restore the social contract between the government and the citizens by ensuring prudence in public expenditure. Attractive in the sense that people must see what you are doing with the tax money.
Only the $320,000 for the Nigerian Extractive Industries Transparency Initiative (NEITI) Reporting Compliance grant was approved on December 7, 2016.