Niger rakes in N3.5bn revenue in May

Gov. Mohammed Bago of Niger says the state recorded N3.5 billion Internally Generated Revenue (IGR) in May.Bago stated this on Wednesday in Suleja, Niger, at the 155th meeting of Joint Task Board (JTB), with the theme: 'Post Reform: Repositioning Revenue Authorities for Effective and Efficient Tax Administration.'He said that his administration remained committed to fostering collaboration with JTB on exchange of ideas and competences.According to him, through strategic reforms and innovative approaches, the state has witnessed a steady growth in its revenue.'Between January and May this year, we collected an average of N2.621 billion monthly, as against an average of N1.806 billion monthly the previous year.'In the month of May alone, we generated N3.508 billion, representing an increase of 45 per cent.'This growth has not only enabled us to expand infrastructure projects but also, to enhance social service delivery across various sectors, thereby improving the quality of life for our citizens,'' he said.The governor said that the administration had prioritised transparency, efficiency and taxpayer education in the state.He said the state had also made it easier by simplifying processes and leveraging technology for taxpayers to comply, while reducing opportunities for evasion.'This has resulted in improved compliance rates and enhanced revenue collection.'We understand the importance of synergy in achieving our collective goals of improved tax administration and revenue optimisation.'Together, we can explore innovative strategies, share best practices and address challenges that hinder our progress,'' he said.with optimism, determination and confidence to reposition the revenue authorities for future of prosperity and progress.Chairman of JTB, Dr Zacch Adedeji, commended the governor for ensuring that the state IRS was professionalised while, at the same time, safeguarding its autonomy.'Coming off the last seven months of 2023, a rejuvenated approach to revenue generation saw the stat e ending the year on a solid note with total annual IGR performance crossing the N20 billion mark for the first time in its history.'At N21.67 billion, collections achieved over 28 per cent growth over the total annual collection of N16.93 billion posted in 2022.'Notably, the percentage growth rate was significantly higher than the cumulative sub-national growth rate of 23.17 per cent.'The momentum was unrelenting, going into the new year with the N7.03 billion collected in the first quarter of 2024, as against the N6.18 billion in first quarter of 2023.'We are proud of what the state is achieving under your watch, and we are confident that with diligent implementation of the innovation and relentless drive, a monthly IGR of N5 billion is realisable.'We are committed to this at the JTB, and our presence here today is an ample testimony of our support,'' he said.Adedeji said that JTB was charged with the mandate of promoting and ensuring uniformity, harmony and efficiency in personal income tax adm inistration, while providing advice on general tax matters to all tiers of government.According to him, the stakeholders` meeting provides an avenue to engage and brainstorm on contemporary and emerging issues in taxation at the domestic, regional and global levels.'It is necessary to strengthen the fabric of our IGR capacity to ensure that the revenue administration processes, especially at the sub-national level, become as efficient as possible.'This is to optimise the collection of IGR for socio-economic and human development,'' he said.He thanked the stakeholders for making tax issues a matter of priority and for putting tax revenue into excellent use.Source: News Agency of Nigeria