Abia projects N36 billion as annual Internally Generated Revenue

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Abia projects N36 billion as annual Internally Generated Revenue

Chairman of Abia State Board of Internal Revenue ( BIR ) Mr Chijioke Okoronka disclosed how the Board successfully projected a N36 billion annual Internally Generated Revenue ( IGR ).

He said that the Board introduced what he called injection of private sector-driven approach involving application of technology in revenue collection in addition to the contributions of the Workers whom he described as “technical people that not only know what to do but disposed to doing so”.

The Chairman who spoke to Nigeria Reports .net said “there were innovations and changes in modern system of doing things including the application of technology and use of Mobile Application Pay System and Creation of a Data Base that captures records of Plate Numbers of Commercial Tricycles and Vehicles.

“We have thus moved from Manual-ticketing to E-ticketing, which Abia was the first state in the country to implement and because it was so good, it was expanded from Keke (tricycle) to the entire Transport Sector and the state Markets”

According to Okoronka, the new revenue innovation has reduced Faking of Revenue Receipts and the various challenges encountered in Paper- Ticketing stressing that E-ticketing cannot be duplicated because of the Security Features applied.

He disclosed that his Board had in 2021 generated N19.20 billion, N19.80 billion in 2022 and N6 billion so far in the first quarter of 2023, he projected N24 billion for 2023, N30 billion for 2024 and N40 billion for 2025 which on average, stands at N30 billion per year and N2.5 billon per month.

He stated that in contrast, the state revenue record in 2018 was N15.83 billion, N15.49 billion in 2019 while in 2020 it was N15. 92 billion, and expressed optimism that with this use of technology in boosting IGR collection in the state, it is possible to generate N3 billion average monthly which it has targeted.

While he stressed the dire need for other Ministries, Departments and Agencies (MDAs ) to queue into the Data Base of the state revenue collection, the state BIR Chairman added “there is presently a high level of compliance in revenue collection compared to what it was in the past due to the clamp down of illegal revenue collection he said has been reduced to about eighty percent ( 80%) through the use of technology”.

According to him, the state Law prohibits people to pay cash to anyone, hence a technical system that was put in place, makes it easy for Tax Payers to be promptly alerted as they pay adding that his board has also introduced gradual or installmental payment of taxes he tagged ” Pay Small Small ” .

” We are moving gradually to make payments seemless for tax payers, technology has really helped us even as the mode of tax collection in the state is by POS, AfriPay which brings payment of tax closer to tax payers”.