36 states grow IGR by N360b in 2 years

This post has already been read 393 times!

The 36 states of the federation grew their combined Internally Generated Revenue (IGR) by N360 billion in two years.

They grew the IGR from N1.31 trillion in 2019 to N1.67 trillion in 2021.

Chairman of the Nigeria Governors Forum (NGF), Gov. Kayode Fayemi of Ekiti made the declaration in Abuja on Monday at the 8th IGR Peer Learning Event and launch of the NGF public finance database.

He said the share of IGR in total recurrent revenue of the states also rose from 31 per cent in 2019 to 35 per cent in 2021.

Fayemi attributed the improvement to the conscious reforms in tax administration in the states.

“Consensus reforms were focused on ending multiple taxations; professionalising and modernising our revenue services; embracing a taxpayer-centric culture that eases compliance and strengthens the existing social contract.

“What we need to do better is to foster an enabling tax environment and administration that allows us to optimise our revenue potential as sub-nationals.

READ  Lagos Airport: We arrest 4 infiltrators daily – FAAN

“Our pursuit to do things differently has benefitted from the relentless efforts of our state officials, technical assistance programmes within our Secretariat and from partners’ support,’’ he said.

Fayemi added that collaborations and support had ensured that states stayed on the course of implementation, delivering far-reaching reforms, which yielded the results.

He said, however, that state governments must occasionally respond to the fast-changing tax environment if they must stay ahead of evasion and avoidance tactics.

He added that attention must be paid to the emerging dynamics surrounding private income.

He listed the dynamics to include the devaluation effect of the rising inflation rate, structural transition in employment, business dealings and investments driven by the evolution of technology.

Fayemi advised his governor colleagues to examine ways of expanding their tax nets and improving the tax payer database.

READ  Big U.S. banks' prime rate soars to highest since 2008 financial crisis

He argued that this would require ending the proliferation of taxpayers’ identification numbers and databases.

“It is pertinent that we harmonise; leveraging a unique identification number as it is the global best practice.

“For us to achieve this, information sharing between jurisdictions must be seamless, not only between the tiers of government but also inter and intra-state,’’ he stressed.

The chairman called on the Joint Tax Board to find a solution to the problem of inadequate information sharing between states to improve transparency in tax revenues and also in the entire treasury.

He stated that the database, which was launched at the occasion, would allow users to easily filter and analyse states’ fiscal data and information.

“We understand the need to build greater accountability, especially showing citizens the linkage between their taxes and service delivery.

“We are working with our revenue services and with Ministries, Departments and Agencies to expand our tax-for-service initiatives in rewarding compliance, while ensuring that citizens knew where we expend their taxes annually,’’ he added

READ  N3.4trn can only subsidize 66.7m litres of PMS — NNPCL GMD, Kyari

Fayemi expressed the hope that the governors’ successors would continue the reforms.

The Director-General of the NGF, Asishana Okauru, assured that the Forum would continue to play an active role in mainstreaming tax programmes through advocacy.

He said the tax database portal would host comparable annual data on government spending, revenues, and financing in all states of the federation.

“This will feature hundreds of performance indicators that measure the quality of public spending and the intersection of public financial management and service delivery,’’ he said.

The Guardian

Comments

comments

John Ojoagbene on EmailJohn Ojoagbene on Facebook
John Ojoagbene
Writer at Fridayposts.com
I am John Ojoagbene Obilikwu, a writer and a teacher of the word of God. I live in the FCT, Abuja, Nigeria. My number is +2347030275114. My social contacts are: Facebook: https://www.facebook.com/obilikwu.john and @John_Ojoagbene on twitter

Free Online Video Downloader - Cordly


John Ojoagbene

I am John Ojoagbene Obilikwu, a writer and a teacher of the word of God. I live in the FCT, Abuja, Nigeria. My number is +2347030275114. My social contacts are: Facebook: https://www.facebook.com/obilikwu.john and @John_Ojoagbene on twitter

Leave a Reply

Your email address will not be published. Required fields are marked *

300-101   400-101   300-320   300-070   300-206   200-310   300-135   300-208   810-403   400-050   640-916   642-997   300-209   400-201   200-355   352-001   642-999   350-080   MB2-712   400-051   C2150-606   1Z0-434   1Z0-146   C2090-919   C9560-655   642-64   100-101   CQE   CSSLP   200-125   210-060   210-065   210-260   220-801   220-802   220-901   220-902   2V0-620   2V0-621   2V0-621D   300-075   300-115   AWS-SYSOPS   640-692   640-911   1Z0-144   1z0-434   1Z0-803   1Z0-804   000-089   000-105   70-246   70-270   70-346   70-347   70-410  

36 states grow IGR by N360b in 2 years

by John Ojoagbene time to read: 2 min
0