Akwa Ibom State Internal Revenue Services said it recorded an increase of over N34.8bn in its revenue generation for the 2022 fiscal year.
Our correspondent reports the amount represents a shortfall of about N9bn of its targeted N43.8bn revenue for the year.
The chairman of AKIRS, Mr Okon Okon, attributed the increase to peace, prudent fiscal management and the introduction of technology in the operations of the service in the state.
Okon disclosed this while addressing newsmen at the 2nd inter-ministerial briefing organised by the Ministry of Information in Uyo on Friday.
He revealed that the state’s IGR has steadily increased from N15.7 billion to N34.8 billion within eight years.
He gave the breakdown of the IGR in eight years as N16 billion IGR in 2017, N24.2 billion in 2018, N30.6 billion in 2020, N31.4 billion in 2021 and N34.8 billion in 2022.
He added that the COVID-19 period afected the IGR in 2019.
He said, “In 2019, during the COVID-19 period, Governor Udom Emmanuel out of his magnanimity granted tax exemptions and waivers in sectors of the economy, to alleviate the pain and difficulties people experienced at that time. That is taxation with human flesh.
“He created an enabling environment. Without peace, there is no development; without peace, you cannot grow the economy; without peace, you cannot collect taxes. So the peace that Governor Udom Emmanuel brought about in Akwa Ibom state was one of the drivers of the IGR.
“Akwa Ibom stands tall as one of the states in Nigeria, if not the very first that has created an environment for people to live, eat and relax and for the ease of doing business.
“The next was to exercise prudent fiscal management, managing the funds in a manner that is transparent. This has attracted voluntary compliance from taxpayers.”