The Sokoto State Governor Alhaji Ahmad Aliyu has explained that the removal of sharp practises has seen the state raise its Internally Generated Revenue (IGR) to N3.4bn quarterly.
He said this on Tuesday in Abuja at the opening of the 26th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria (CITN), with the theme: ‘Sustainable Tax Culture and Economic Roadmap for Nation Building’.
He said that Nigeria has for the past few years been battling with many challenges, making it difficult for governments at all levels to fully implement people-oriented projects
Also, a former governor of Ogun State, Senator Ibikunle Amosun, urged state government to shift from funding annual budgets from borrowings to growing their IGRs.
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He said the developing of a strong revenue base at the state levels is more so pertinent at this time of economic challenge when Nigeria and its constituent states and local governments are going through very difficult times and finding it hard to provide for its teeming populace.
Earlier, the President and Chairman of Council, CITN, Mr Samuel Agbeluyi, said taxation is not merely about revenue collection but more of building a sustainable future for the country.
“Our current economic realities as a country are multifaceted, in spite of efforts to improve the narrative by the current government. The need for sustainable solutions has never been more pressing than now. And at the heart of these solutions lies an effective tax system.
“The 2024 budget of “Renewed Hope” as we know relies significantly on non-oil revenue, and this trend is expected to continue in the future. Therefore, building a sustainable tax culture capable of significantly improving our tax revenue performance for effective economic and capital formation becomes a top priority.
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