{"id":33795,"date":"2022-07-08T16:15:54","date_gmt":"2022-07-08T16:15:54","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=33795"},"modified":"2022-07-08T16:15:54","modified_gmt":"2022-07-08T16:15:54","slug":"anambra-can-only-survive-economic-hardship-through-igr-commissioner","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/07\/08\/anambra-can-only-survive-economic-hardship-through-igr-commissioner\/","title":{"rendered":"Anambra can only survive economic hardship through IGR \u2013 Commissioner"},"content":{"rendered":"
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Anambra State Commissioner for Finance, Ifeatu Onejeme, says that the state can only survive the current economic hardship experienced in the country through internally generated revenues (IGR).<\/p>\n

Onejeme made the assertion during the ongoing 2022 Revised Budget defense before the state House of Assembly Committee on Finance and Appropriation, on Friday, in Awka.<\/p>\n

He said that every successful country in the world succeeded from taxation and not from sale of commodities such as Nigeria exporting crude oil.<\/a><\/p>\n

According to him, the monthly allocation of about N4 billion to N4.2 billion from the Federal Government is not enough to cater for the needs of the state.<\/p>\n

\u201cBy the time you take out salaries, overheads, and subventions to institutions from the federal allocation, what is left is very minimal and so, Anambra<\/a> can only survive through IGR.<\/p>\n

\u201cThis is why the initiatives to drive the revised budget have been captured under the state\u2019s Internal Revenue Service because we have adopted a strategy to consolidate revenue collection.<\/p>\n

\u201cThe era of revenue windows in ministries, departments, and agencies has come to an end. There are digital platforms that are being introduced such as registration for transport operators.<\/p>\n

\u201cThis is all to make sure that revenues are now centrally and digitally collected to reduce leakages,\u201d he said.<\/p>\n

Onejeme said that Anambra had IGR potential that should be explored to develop the state.<\/p>\n

\u201cThe Electronic Money Transfer levy captured in transactions in banks and financial institutions, you will find out that Anambra is number four in Nigeria, in terms of generation, after Lagos, Abuja, and Rivers.<\/p>\n

\u201cIf you also go to the telecommunications, and check the average revenue per user for their phone lines, you will find out that Anambra is second or third, after Lagos.<\/p>\n

\u201cSo, it tells us that in Anambra State, there is massive IGR potential but the problem has been leakages\u00a0and IGR warlords, \u201d he said.<\/p>\n

On the current economic situation, the commissioner said that the country can not sustain itself at the current debt levels and the issue with the Nigerian National Petroleum Corporation (NNPC)<\/a>.<\/p>\n

He said that reports from the Federation Accounts Allocation Committee showed that NNPC had not remitted any funds to the federation account this year.<\/p>\n

According to him, it means that Nigeria is surviving without any receipts of proceeds from the sale of crude oil and this has significant implications.<\/p>\n

\u201cNot only has NNPC not brought money, it has as well been utilising the funds that they should have remitted for taxes and royalties to the federation account to subsidise petrol importation.<\/p>\n

\u201cSo, there is something really going on that should alarm and keep all Nigerians awake. We have all been boxed into a corner in this country economically.<\/p>\n

\u201cAny state that is proactive must start digging in now to be able to survive the negative impacts of what is going on in the country.<\/p>\n

\u201cAs a state under the federation, we have to plan on how to survive and that has been driving the revised budget estimate to achieve the manifestoes of Gov. Charles Soludo as well as the Vision 2070 for the state, \u201d he said.<\/p>\n

The commissioner said that the state government would start to front-load infrastructure investment for economic expansion as well as credit rating to raise money either in the international or local market for the state<\/p>\n

Reacting, Obinna Emeneka, lawmaker representing Anambra East Constituency and Chairman, House Committee on Finance and Appropriation, commended the ministries for the initiative to block revenue leakages in the state.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Anambra State Commissioner for Finance, Ifeatu Onejeme, says that the state can only survive the current economic hardship experienced in the country through internally generated revenues (IGR). Onejeme made the assertion during the ongoing 2022 Revised Budget defense before the state House of Assembly Committee on Finance and Appropriation, on Friday, in Awka. He said […]<\/p>\n","protected":false},"author":32,"featured_media":20773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[20],"tags":[45,6456,6455],"class_list":["post-33795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-anambra-state","tag-ifeatu-onejeme","tag-internally-generated-revenues-igr"],"yoast_head":"\nAnambra can only survive economic hardship through IGR \u2013 Commissioner » BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/07\/08\/anambra-can-only-survive-economic-hardship-through-igr-commissioner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anambra can only survive economic hardship through IGR \u2013 Commissioner\" \/>\n<meta property=\"og:description\" content=\"Anambra State Commissioner for Finance, Ifeatu Onejeme, says that the state can only survive the current economic hardship experienced in the country through internally generated revenues (IGR). Onejeme made the assertion during the ongoing 2022 Revised Budget defense before the state House of Assembly Committee on Finance and Appropriation, on Friday, in Awka. 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