Anambra State Governor, Chukwuma Soludo, has inaugurated the State Board of Internal Revenue, that would see to the improvement of internally generated revenue.
The board has Mr. Richard Madiebo as its Chairman.
This is contained in a statement signed by Christian Aburime, Press Secretary to Governor Soludo.
Executive Directors of the Board include Dr. Greg Ugochukwu Ezeilo (Anambra South), Dr. Christian Madubuko (Anambra North), Mr. Benjamin Anierobi Okafor (Anambra Central).
Other members include the Commissioner for Budget and Economic Planning, Mrs Chiamaka Nnake, Commissioner for Finance, Mr. Ifeatu Onejeme, Commissioner for Lands, Prof. Ofornze Amucheazi, Commissioner for Transport, Mrs. Pat Igwebuike.
Others are Mr. Don Adizuo, Secretary/Head of Legal Department, Mr. Chika Oformma, Head of Assessment and Mrs. Juliet Nwakpudolu, Head of High Net Individual Assessment Dept.
Governor Soludo pointed out that the Internal Revenue Service is the life-blood of all government operations, emphasizing that if it doesn’t work, nothing works.
The Governor noted that results of IGR are not even close to 50% of what he anticipated to achieve.
He stressed that he expected to have the revenue body double its initial revenue within its first four months, which did not happen.
He maintained that the state government should be making more than 3 billion naira per month, which has yet to happen, and that the 2023 budget is expected to generate 4 billion naira per month, stressing that the Anambra state government is running a deficit on IGR, which is one of the key projections.
“FAAC allocations are unpredictable, but we have an economy with an estimated value of up to 5 trillion naira.
“It is critical to highlight the enormous potentials that exist, as well as the appropriate benchmarks and targets.”
“If we have a 5 trillion naira estimate and collect 1%, that is 60 billion naira per year. If we collect 2%, that’s 120 billion naira per year, or a minimum of ten billion naira per month on average. If we receive 5% of income, we will have 300 billion naira per year.
“As of Monday, we were dangling around 1 billion naira per month, which is extremely low.”
“You can see how far we are doing in relation to the potentials that exist,” Soludo said.
“The internal revenue service requires a 180 percent turnaround. The current path we are taking will not get us very far because we have been trying it for a year.
“Members of this board must get to work right away because there is a lot of work ahead of them.
“We will interface and evaluate performance every three months. It will have a high mortality rate and a three-month life span. If this board fails, we will disband it and create a new one.”
The Chairman of the board thanked the Governor for the confidence he holds in them and promised that the board will live up to expectations.
The Governor performed the function at Government Lodge, Amawbia,Awka, the state capital.
Secretary to the State Government, Professor Solo Chukwulobelu, Chief of Staff, Mr. Ernest Ezeajughi, Commissioner for Industry, Mr. Obinna Ngonadi, MD Ocha Brigade, Mr. Celestine Anaere among others, attended the event.
