Prof. Chukwuma Charles Soludo CFR, Governor of Anambra State has officially inaugurated members of the Anambra State Board of Internal Revenue, which is tasked with increasing the state’s internal generated revenue.
The Governor performed the function at Government Lodge, Amawbia.
Mr Richard Nworah Madiebo is the Chairman of the board while the Executive Directors are; Dr. Greg Ugochukwu Ezeilo (Anambra South), Dr. Christian Madubuko (Anambra North), Mr. Benjamin Anierobi Okafor (Anambra Central).
Other members include the Commissioner for Budget and Economic Planning, Mrs Chiamaka Nnake, Commissioner for Finance, Mr. Ifeatu Onejeme, Commissioner for Lands, Prof. Ofornze Amucheazi, Commissioner for Transport, Mrs. Pat Igwebuike.
Others are Mr. Don Adizuo, Secretary/Head of Legal Dept., Mr. Chika Oformma, Head of Assessment and Mrs. Juliet Nwakpudolu, Head of High Net Individual Assessment Dept.
Governor Soludo stated that the inauguration is based on the fact that the Internal Revenue Service is the lifeblood of all Government operations, and that if it doesn’t work, nothing works.
The Governor also revealed that the Government has been experimenting with a variety of things over the last year.
Soludo admitted that results of IGR are not even close to 50% of what he expected it to achieve. His expectation was that within the first four months of his administration, they should have more than doubled their initial revenue, which did not occur.
He maintained that the Government should be making more than 3 billion naira per month, which has yet to happen, and that the 2023 budget is expected to generate 4 billion naira per month. He also stated that the Anambra state Government is running a deficit on IGR, which is one of the key projections.
“FAAC allocations are unpredictable, but we have an economy with an estimated value of up to 5 trillion naira, but it can’t be in market prices based on surveys done over the years, which are absolutely done, compounded with inflation rate.”
“It is critical to highlight the enormous potentials that exist, as well as the appropriate benchmarks and targets.” If we have a 5 trillion naira estimate and collect 1%, that is 60 billion naira per year. If we collect 2%, that’s 120 billion naira per year, or a minimum of ten billion naira per month on average. If we receive 5% of income, we will have 300 billion naira per year.
“As of Monday, we were dangling around 1 billion naira per month, which is extremely low.”
“You can see how far we are doing in relation to the potentials that exist,” Soludo said.
“The internal revenue service requires a 180 percent turnaround. The current path we are taking will not get us very far because we have been trying it for a year.
“Members of this board must get to work right away because there is a lot of work ahead of them.
“We will interface and evaluate performance every three months.” It will have a high mortality rate and a three-month life span. If this board fails, we will disband it and create a new one.
“Of course, the law requires a five-month contract, but we will work on a three-month contract.” The state can no longer wait! Something that works is required. I’d like to hear from you about what we can do to help you succeed. Our IGR should be sufficient to cover debt service, overhead, and other recurring expenses. If it can’t, it’s a joke!” Soludo submitted.
“Your work begins right now! You have three days to repcharge your arsenals and begin your duties before we begin evaluation on April 1st.
“It is obvious that the Ocha Brigade is not intended for revenue enforcement; that is not their primary mission. It cannot be used for that purpose unless it undergoes extensive reengineering.
“You can’t do the same thing over and over and expect a different result! Take charge and lets get it done,” Soludo concluded.
Terms of Reference of Anambra State Board of Internal Revenue
- Providing general policy guidelines regarding the functions of the State Internal Revenue Service and supervising implementation of such policies.
- Ensuring the effective and optimum collection of all revenue,
including levies and penalties due to the State Government under
the relevant Federal and State Laws.
- Doing all such things that may be deemed necessary and
expedient for the assessment and collection of all revenue.
- Accounting for all amount so collected in a manner to be
prescribed by the Governor.
- Making recommendations were appropriate to the Joint Tax Board on tax policy, tax reform, tax registration, tax treaties and exemption as may be required from time to time.
- Appointing, Promoting, Transferring and imposing discipline on
employees of the State Internal Revenue Service.
- Making Recommendations to the Governor regarding the terms and conditions of employment and remuneration of staff of the Internal Revenue Service.
- Controlling the management of the State Internal Revenue Service
on matters of policy, subject to the provisions of any regulations
setting up the State Internal Revenue Service.
- Doing such other things as are in the opinion of the Board
necessary to ensure the efficient performance of the functions of
the State Revenue Service under the Law.
The Secretary to the State Government, Prof. Solo Chukwulobelu, Chief of Staff, Mr. Ernest Ezeajughi, Commissioner for Industry, Mr. Obinna Ngonadi, MD Ocha Brigade, Mr. Celestine Anaere amongst others attended the event.