The Federal Government has unveiled its Strategic Revenue Growth Initiative (SRGI) for sustainable revenue generation in various sectors of the economy, part of which is to increase Excise Duty rates on certain goods as well as Value Added Tax (VAT) from the current 5%.

Speaking in Abuja while launching the SRGI, Wednesday, the Minister of Finance, Mrs. Zainab Ahmed, said the implementation of the initiative would significantly boost the federal government revenue outlook in the months and years ahead.