- Akwa Ibom state's internally generated revenue has improved astronomically
- The state has moved from 16th to 6th in the ratings released by federal authorities
- Already, the Akwa Ibom government is projecting N52.556 billion IGR in 2020
The latest rating released by the Joint Tax Board (JTB) reveals that Akwa Ibom state has moved from 16th position on the Internally Generated Revenue (IGR) rating table in 2015 to number six (6) on the table in 2019.
Checks revealed that with the latest rating, the state's IGR reached an all-time high of N24.8billion within eight months, January to August 2019.
This amount represents 57.05 percent of the projected IGR (N43.6billion) for the 2019 business year.
The governor, Mr. Udom Emmanuel gave the figure in the performance review of the 2019 budget while presenting highlights of the 2020 budget to the Akwa Ibom state house of assembly.
“As at August 2019, the actual recurrent revenue collected was N190.66 billion... a breakdown of this shows that Internally Generated Revenue (IGR) was N24.875 billion,” Governor Udom Emmanuel revealed at the 2020 budget presentation to the Akwa Ibom state House of Assembly recently.
The IGR for 2019 is more than the sum of the state's IGR realised in 2016 and 2017 and N5.7 billion higher than the N19.04 billion generated between January and September 2018.
The state generated N11.3billion between January and September 2016 and N10.4billion within the same period in 2017.
There has been major reforms in tax administration in the state since the Emmanuel administration came on board in 2015.
Akwa Ibom state is currently ranked the sixth on the IGR performance rating in 2019 according to data obtained from the JTB and National Bureau of Statistics.
Lagos, Rivers, Ogun, Delta and Kaduna are the first top-five stats on the table.
Already, the Akwa Ibom government is projecting N52.556 billion IGR in 2020. This is about N556 million higher than the projected statutory allocation for the year 2020.
Meanwhile, Governor Emmanuel recently declared that Akwa Ibom is one of the safest states in Nigeria.
The governor stated this on Tuesday, October 15 when he played host to foreign defense attachés serving in Nigeria.