Government is to map out new strategies to increase revenue

Akwa Ibom State government is to map out new strategies to increase and expand its revenue base.
The Commissioner for Finance , Mr. Akan Okon who made this known in Uyo while addressing Stakeholders in the revenue subsector across the State said that in view of the imbalance in the overhead cost over the actual revenue receipts occasioned by the drop in oil price, it was expedient to innovate new strategies to improve the IGR. Mr. Okon who hinted that the vision of the present  administration is to diversify the State’s economy such that the oil price fluctuation will not destabilize the State’s affairs, charged  the revenue stakeholders to be proactive by fashioning out ways to harness untapped revenue streams in the State,as well as develop a critical framework to support revenue collection.

The Commissioner also asserted that concrete efforts would be made to tighten loopholes in revenue collection to ensure that funds are available for infrastructural development, payment of workers’ wages and entitlements, as well as running other governmental affairs.
Speaking on funds that accrues from different Ministries, Departments and Agencies of government, the Finance Boss harped on accountability ,warning that stringent  measures would be adopted to checkmate diversion of  funds, and re- emphasized that all revenues be paid into a single revenue account.
To this end, a Ten-man Revenue Review Committee headed by the Permanent Secretary Budget who also doubles as the Acting Chairman, Internal Revenue Service, Pastor  Nicholas Ekarika was constituted with the Permanent Secretary  in the Ministry of Finance, Mrs Eme-ete  Imuk as Secretary.
They  were mandated to seek other revenue generating sources to government and to also work out modalities to review existing tariffs in the MDAs.
The Permanent Secretary Budget, Pastor Ekarika who responded on behalf of other stakeholders ,lauded the initiative of the Finance Commissioner for convening an enlarged meeting to chart a new course for revenue generation  in the State ,and pledged to work assiduously to upgrade the IGR in the State.