The Federal Government of Nigeria has successfully recovered N57 billion out of a staggering N5.2 trillion owed by various Ministries, Departments, and Agencies (MDAs) to the Federal Inland Revenue Service (FIRS). This breakthrough comes courtesy of Project Lighthouse, a data-driven initiative launched by the Federal Ministry of Finance.
Project Lighthouse addresses a long-standing challenge: poor information sharing among government agencies. By aggregating data from over 93 MDAs and 5,000 debtors, the initiative has shed light on a hidden web of outstanding liabilities.
“Project Lighthouse has enabled the aggregation of relevant economic and financial information from multiple agencies who previously did not share data,” explains Mr. Okokon Udo, Permanent Secretary, Special Duties, Federal Ministry of Finance.
Udo further highlights the role of fragmented information in fostering revenue loopholes. The consolidation efforts of Project Lighthouse, however, have yielded significant results. “The Ministry has been able to aggregate monumental debts of approximately N5.2 trillion,” he says.
The recovered N57 billion represents a fraction of the total debt, but it signifies a positive step towards fiscal responsibility. Recoveries include unpaid credit facilities, refunds from companies failing to deliver on projects, and outstanding debts owed to government institutions like PTAD.
Project Lighthouse has also identified debtors who continue to utilize government platforms like GIFMIS and TSA despite their outstanding obligations. The government is committed to pursuing these entities for full repayment.
