The Minister of Finance, Mrs. Kemi Adeosun has said that the federal government has recognized that infrastructure is the key to job creation, growth and wealth, emphasizing that “payment of taxes is a fundamental requirement for our growth story.”
The finance minister spoke today, Thursday at the launch of the Voluntary Assets and Income Declaration Scheme (VAIDS) in Enugu, which offer taxpayers an opportunity, within a limited time, to regularize their tax status relating to previous tax periods.
She said: “We have already released N1.2 trillion in capital so far for the 2017 budget, which commenced in June and most of this was applied to roads, bridges, rails, power, our airports and other key infrastructural projects.”
Adeosun stressed the need for the development of taxes that will assist states and the country achieve their potentials and vision for the people, stressing that “with regular taxes, we will avoid the pain that the recent collapse in oil prices and the consequent recession inflicted on Nigerians”.
She also commended Governor Ifeanyi Ugwuanyi for the massive road projects in the state, especially his administration’s intervention on federal roads such as the 9th Mile-Ngwo- Miliken Hill-New Market road, adding that “Enugu State is one of the states where a lot is going on.”
Adeosun, who described Ugwuanyi as a “brave” leader, noted that the governor has done very well in growing the state’s Internally Generated Revenue (IGR) “transparently” and has also ensured that the revenues collected are utilized for the development of the state.