2018: A’Ibom to adopt new measures to boost IGR , says Commissioner

The Akwa Ibom Government says it will adopt new strategies to boost its Internally Generated Revenue (IGR) in 2018 by expanding the tax net to cover many neglected areas.
The Commissioner for Finance, Linus Nkan, stated this while speaking with journalists in Uyo on Monday describing the current IGR as very low.
He lamented the poor state of the IGR, which according to him, fluctuates between N600 million and N800 million monthly except in January.
He said the state government would organise a tax summit to seek the opinion of tax experts on how to improve the current revenue base of the state and ensure that its contribution was substantial.
“We are planning a tax workshop to call on stakeholders and experts to give us suggestions because our IGR is very poor,” Nkan said.
The commissioner explained that the decision of government to make a loan provision of N105 billion in the 2018 budget estimate was aimed at ensuring a balance in the year’s budget due to poor Internally Generated Revenue of the state.
“ If the state government has a need to obtain any loan, it needs to write to the House of Assembly, enumerates what the loan is needed for and the amount that is required and the House will consider, and if justified, will approve the request.
“ In the course of the year, there are some money that came in, you know you cannot spend the money that was not budgeted for. And if you did not budget for the money, you still have to subject to approval of the state House of Assembly,” he said.

Leave a Reply

Your email address will not be published.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