KEY POINTS

• Speaking on the development, – Anambra’s monthly IGR increased from N2.2m to N5.2bn in 2024.
• Market driven reforms would plug the leakages and increase revenue.
• The diversion of over 50% of revenue from markets to private pockets has been the case.

Oyeka, Senior Special Assistant (SSA) to Governor Chukwuma Soludo on IGR, said Anambra State’s Internally Generated Revenue (IGR) rose from N2.2 million in 2023 to N5.2 billion in 2024.

It is only one the many gains in the war to curb revenue leakages and improve tax compliance.

The revelation came in front of presentation and validation of research activities in 21 key markets in the state. The Tax for Service (T4S) Project, conducted by the Tax Justice and Governance Platform in collaboration with the Civil Society Legislative Advocacy Centre (CISLAC) and Oxfam Nigeria, carried out the research.

But Oyeka pointed out that the state’s improved revenue came despite resistance from wealthy people unwilling to pay taxes. Revenue collectors, he said, have been syphoning funds and ‘others have now become richer than the government.’

However, he said stakeholders and citizens need to jointly come up with processes for plugging loopholes in the revenue collection process.

He added, “This is a work in progress, and we shall get there.” Oyeka said we should understand that as citizens, the higher your revenue, the greater your power to demand public goods.

Market driven revenue reform is being pushed by stakeholders

Anambra stakeholders present at the event highlighted the importance of markets in pushing up the state’s revenue. Dr. According to Greg Ezeilo, Chairman of the Anambra State Board of Internal Revenue Service, the financial potential of the markets in the state has been underutilized.

Speaking through Director of Taxes, Herbert Ofomata, Ezeilo appealed that the state focuses on the market sector which he said has much capacity to generate public revenue.

We’re strong in the market.” Very soon, it is Onitsha, that market will stretch to Awka on either side. Our oil well in the state is markets. He said we need to pay attention to markets to fund public services.

Ugochi Ehiahuruike, Executive Director, Social and Integral Development Centre (SIDEC), said the T4S Project intends to bridge the taxpayers and the service providers.

With that, the idea is to foster transparency, accountability, and confidence in government systems, and also to guarantee better tax payment.

Also, the Vice President of the Anambra State Association of Town Unions (ASATU) in his words, Ikechukwu Offorkansi pledged to support the government’s revenue drive. But he warned against the type of multiple taxation the system had previously endured.

Results of the research conducted by Dr. David Agu show that more than 50% of money generated from markets ends in private pockets, accounting for the state’s poor performance in IGR in the past. The fight is on to close those loopholes and shoring up maximum revenue for public service delivery.