BusinessTop News

AKS MDAs to take 2.5% out of Revenues Generated

... As AKIRS Board Chairman opens up on 2019 State IGR

By Ekemini Simon

The Commissioner for Finance, Akwa Ibom State, Mr Linus Nkan has revealed that the Akwa Ibom State Governor, Mr Udom Emmanuel has approved Ministries, Department, Agencies and parastatals of government to take for themselves 2.5 per cent out of revenues they generate.

The Commissioner made this known to newsmen on Monday in a joint media chat with the Chairman, Akwa Ibom State Internal Revenue Service, Mr Okon Okon after meeting with revenue generating MDAs of State Government as organized by Board of Internal Revenue Service.

The Finance Commissioner noted that in the meeting, he had announced to the MDAs the State Governor’s motivation package of 2.5 percent for revenue generated.

Nkan who said the motivational package is tagged Cost of Revenue generation is to enable the MDAs acquire facilities for improved revenue generation.

The Commissioner said the meeting is imperative especially now that revenue from Federation Account Allocation Committee (FAAC) is unstable.

He said ” In our State, we have experienced persistent decline in the money we get from FAAC. For over a year it has been on a decline. What they give you from Abuja, that is what you get home. Even when you ask questions, no one gives you credible response.

“So we realise that the one we can control is internally generated revenue. So this meeting was to boost the morale of MDAs whose operations involve collecting levies. We talked to them for them to see the need to become partakers and stakeholders and to make them see the need to put more effort in revenue generation and revenue accounting and reporting.”

The Finance boss expressed optimism that at the end of the day, Akwa Ibom State will boast of improved revenue generation as that will help the Governor to complete the projects and programmes he has embarked upon.

Also speaking, the Chairman, Akwa Ibom State Internal Revenue Service, Mr Okon Okon noted that the initiative of government to motivate the MDAs is a welcome development especially as incentive is good for enhanced productivity.

Okon said in the meeting, he noticed renewed commitment towards revenue generation among MDAs stressing that the commitment signals positivity for the future.

The AKIRS helmsman said in order to carry out a robust revenue generation, AKIRS will embark on tax education initiative for the public.

He explained the initiative will include the consequences of not paying taxes among the benefits with insight into what the government is using the tax for.

Okon pointed out that since AKIRS have increased the tempo of tax enforcement with new strategies, the Board so far recorded steady growth year on year with a record of N16billion in 2017, N24.2billion in 2018 and now N20.4billion in half part of 2019.

He encouraged the public not to relent in paying their taxes for the State to enjoy rapid development.

Related Articles

Back to top button