Akwa Ibom State government is set to double its Internally Generated Revenue (IGR) of N50 billion yearly to N100 billion in 2020 as it seeks to rake in more funds for its massive infrastructure upgrade and industrialisation scheme.
Apart from the construction of a 21-storey office complex to draw International Oil Companies (IOCs) to the state, it is embarking on the construction of a number of road projects including a dual carriage way from Uyo, the state capital, to Eket, in the Southern senatorial district, covering a distance of more than 20 kilometres.
Linus Nkan, commissioner for finance, who made this known in Uyo, the Akwa Ibom State capital, expressed the determination of the state government to double its IGR from what it used to collect in the previous years.
“Our efforts to boost the economy have increased our IGR. That of 2019 was almost doubled what we got in 2018. We should not do anything less than N100 billion in 2020. We are doing all these industries, they will now pay taxes and those employed are also paying taxes to government,” he said.
Describing IGR as a function of economic activity, he said the state government has witnessed an increase in its IGR which, according to him, is needed for its “transformational programmes” aimed at achieving sustainable economic development.
Nkan, who confirmed that the state government had received refunds from the Federal Government for the funds spent on the construction of federal roads in the state, explained that the amount refunded was far less than what is reported.
He did not disclose the amount received.
Ita Enang, senior special assistant to President Muhammadu Buhari on Niger Delta had claimed that the Federal Government refunded N78 billion to the Akwa Ibom State Government.
Nkan said: “Akwa Ibom State government got some refunds on Federal roads, what we got was far less what was reported,” adding that it was not the responsibility of the Federal Government to instruct the state government on how the refunds should be spent as it was suggested in some quarters.
The finance commissioner also disclosed that the state government has secured funding from the World Bank for the construction of the Ibrahim Babangida way, a major road in Uyo, which had been damaged by flooding over the years.
Nkan, who described the industrialisation programme of the state government as a huge success, added that a solid foundation has been laid for the economy of the state.
He explained that rice production has doubled in the state unlike what it used to be in 2015, a development he attributed to the commitment of the state government towards ensuring food sufficiency.
ANIEFIOK UDONQUAK, Uyo
