About

Phase II - Project Lighthouse



The objective of Lighthouse is to aggregate data from key data sources & provide the intelligence & profiling engine for efficient & intelligent data-driven processes. It is the “single source of truth” for revenue & tax-related intelligence.

The objective of Lighthouse is to aggregate data from key data sources & provide the intelligence & profiling engine for efficient & intelligent data-driven processes. It is the “single source of truth” for revenue & tax-related intelligence.

Background

One of the key economic policy objectives of the current administration, as contained in the Economic Recovery and Growth Plan (ERGP), is improving overall Federal Government revenues by targeting and increasing revenues from non-oil revenue sources.

In 2017, the Federal Government of Nigeria inaugurated a committee to oversee the implementation of a compliance scheme seeking ways to reduce budget deficits and tax shortfalls while simultaneously managing revenue more efficiently and diversifying revenue sources by improving revenue generation in the non-oil sector of the economy.

Hence, the introduction of Voluntary Assets and Income Declaration Scheme (VAIDS) on 29 June 2017, which was a compliance strategy with a time-threshold opportunity for taxpayers at the Federal and State levels to regularize their tax status relating to previous tax periods. Full and honest declarants of previously undisclosed assets and income during the window provided shall be forgiven of interest and penalties on overdue taxes and the assurance that they will not face criminal prosecution for tax offences or be subject to tax investigation.

In that regard, the Federal Ministry of Finance piloted Project Lighthouse, which involved the aggregation, centralization and analysis of nationwide taxpayer data within the Federal Ministry of Finance. The objective of Lighthouse was to provide intelligence and profiling engine for more efficient and intelligent data-driven tax assessments, thus ensuring major tax revenue loopholes are plugged and revenues dramatically increased.

Following the completion of the Pilot phase of Project Lighthouse during the VAIDS program, the Lighthouse team began to work with the ministry on a broader scale to see how to use the intelligence of Project Lighthouse achieve the objectives of the Strategic Revenue Growth Initiative (SRGI). In this vein, the Federal Executive Council (FEC) on 9th May 2019, gave formal approval for a full implementation to support the Federal Ministry of Finance, Budget and National Planning (FMFBNP). The mantra of Lighthouse on this broad scale is “connecting the dots,” i.e. aggregating data from multiple sources to help question traditional beliefs.

The Lighthouse was captured under the SRGI to act as the Technology Infrastructure to support the Ministry in its SRGI efforts to achieve the following key objectives:

a) To use data to help guide our policy formulation, implementation & impact assessment of these policies;

b) To use data to help us drive our revenue initiative, increase current revenue streams and block revenue leakages;

c) Provide adequate information to meet the basic principles of fiscal transparency.


Project Categories.


Revenue Performance

Capture current and historic performance across oil & non-oil revenue sectors and track current year revenue on a month-on-month basis.

Revenue Improvement

Provide information to help enhance the present revenue generation efforts of the Government through revenue optimization and recovery of accrued debts.

Debt Recovery

Assist the Ministry of Finance to establish a platform for all MDAs to report records on Lighthouse Systems. MDAs access the platform to update debt records progressively.

Sub-national Revenue Support

Support states with insights & intelligence on revenue performance to improve on the revenue shortfalls and budget deficits of the states.

Stakeholders


  • Central Bank of Nigeria
  • Economic and Financial Crimes Commission
  • Corporate Affairs Commission
  • Asset Management Corporate of Nigeria