Delta Targets N10b Monthly IGR With Capacity to Surpass Lagos N60b Revenue

Business National

The Delta State Board of Internal Revenue has mapped out plans to up internally generated revenue from 7 to N10billion monthly just as some stakeholders say the state has capacity to surpass Lagos state, during the 4th annual lecture series on “Fiscal Policy and Taxation: Balancing Revenue Generation and Economic Growth” organised by the Delta Online Publishers Forum(DOPF) in Asaba yesterday(22/11/2023)
Dr Frank Nwugo, Director of Operations, Delta State Board of Internal Revenue, a panelist revealed the various steps being taken by the board to increase internally generated revenue by leveraging on technology and expansion of the tax net
He said the state capital Asaba has now become the fasting growing city in Nigeria with the best hospitality industry, resulting to increasing internally generated revenue
Earlier the Guest Speaker and a renowned financial expert, Dr Doris Amaka Ochei had commended DOPF for the choice of the theme, which she noted was apt, as it was key to the functions of government.
Dr Ochei said no government could function effectively without Internally Generated Revenue (IGR) from taxes on the formal and informal sectors of the economy adding that Delta state has the capacity to equal Lagos state in tax collection with the right education and policies that will enhance revenue generation
The Guest Speaker however maintained that over-taxing businesses and individuals was detrimental to investment, and could reduce consumers’ purchasing power, positive global competitiveness, as well as discourage entrepreneurship and promote tax evasion.
Dr Ochei said to encourage tax compliance, government should simplify collection processes and streamline tax filing and payment procedures, utilize digital platforms and provide user-friendly interfaces, enhance tax-payer education, offer incentives such as tax deductions and credits, strengthen enforcement of tax compliance, ensure transparent communication and personalized assistance.
She called on government to diversify the economy and explore alternative sources of revenue, improve tax collection, encourage investment, enhance transparency and accountability, improve governance and service delivery.
The Guest Speaker stressed the need for government at all levels to strike a balance between taxation and economic growth to ensure a sustainable healthy economy.
Also speaking, Governor Sheriff Oborevwori said that the execution of the three flyover bridges in Effurun and Warri was an expression of his administration’s readiness to carry out massive development across the State and improve its economic base.
The governor who was represented by the Permanent Secretary, Ministry Information, Mr. Lucky Omokri, believed that as government carries out development programmes and projects across the state, Deltans will be encouraged to pay their taxes.
He said that in line with his MORE Agenda, he would be focusing more on tax from landed properties and other big economic ventures in the state just as the government would continue to ensure peace and security for all businesses and residents.
Secretary, Uvwie Traditional Council of Chiefs and Chairman of the event, Chief Dr. Samuel Eshenake, emphasized the need to balance fiscal policy and taxation as well as economic growth.
Chief Eshenake commended Delta Online Publishers Forum, DOPF for the programme, describing the focus of the 2023 lecture series as very timely.
In his welcome address, DOPF Chairman, Mr.  Emmanuel Enebeli, said this year’s lecture aligned with the Forum’s commitment to contributing to the shaping a fiscal landscape capable of propelling the nation towards the prosperity and general well-being of all.
Chairman of the Nigeria Union of Journalist, NUJ, Delta State Council, Comrade Churchill Oyowe in his goodwill message commended Delta Online Publishers, DOPF for organizing the convention and retreat for online publishers to further broaden their knowledge in the reportage of issues on Fiscal Policy And Taxation.

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