Abia State government says it’s internally revenue has now grown from N500 million to N1.5 billion monthly.
The state governor, Dr Okezie Ikpazu, made this known while addressing stakeholders, especially members of the Internally Generated Revenue, IGR, Council to express his concern towards the current economic downturn in the country as it affects the state’s economy.
He said a sharp drop in Federal Accounts Allocations Committee, FAAC, disbursements was being expected in the coming months.
Ikpeazu, however, commended all the stakeholders for their efforts in growing and sustaining the state’s revenue from N500million to the current level of N1.5billion monthly.
His words,” The minimum amount of internally generated revenue required to run the state monthly is between N2.5billion to N3.5billion. In order to attain this threshold, the need for the government to be innovative, efficient, and proactive towards IGR growth cannot be overemphasized.”
He then directed the IGR Council to improve their efforts on revenue collection administration in the state especially as it affects the implementation of the planned innovations that will lead to the realization of the N3billion targeted monthly revenue.
Ikpeazu threatened to sanction MDAs hiding revenue sources even as he mandated the state’s IGR Council to report all non-compliant MDAs by the end of May, including MDAs that refuse to accept an ABIRS desk officer at their ministries, emphasizing that any personnel involved would be redeployed immediately.
He also made compliance to the set standards of the ABIRS as provided by the Law a condition pre-requisite for any appointment to leadership roles in any MDA in the State.
Ikpeazu also further reiterated his commitment to ensure attainment of the state’s IGR target for the continued growth and development of the state and welfare of the citizens, even as he expressed worry about the dwindling revenue from the Federation Account and Allocation Committee, FAAC.
He then directed all Ministries, Department Agencies, MDA’s and Local Government Areas in the state to comply with Abia State Revenue
Laws and the state Internal Revenue Service, ABIRS, directive to ensure the generation of the much-needed funds for the development of the economy of the state.
