LAGOS, Nigeria (VOICE OF NAIJA) – The Katsina State government has reported collecting N4.08 billion in internally generated revenue (IGR) in the first quarter of 2024.
Governor Dikko Radda’s chief press secretary, Ibrahim Kaula, announced in a statement on Sunday in Katsina that the state’s revenue collection saw a 227 percent increase, rising to N4.08 billion in the first quarter of 2024 from N1.79 billion during the same period in 2023.
He attributed the achievement to the administration’s unwavering commitment to addressing financial leakages in the state’s system.
Mr. Kaula emphasized that Mr. Radda’s administration has strategically prepared the state to surpass its current capabilities and exceed revenue projections.
“Estimates indicate that the state is poised to surpass the N20 billion mark in internal revenue generation for 2024.
“A feat that seemed unimaginable in previous years when the range hovered between N10 billion and N14 billion,” he said.
Mr. Kaula highlighted that the core of this financial transformation is Mr. Radda’s ‘Building Your Future’ policy document, which has enabled several groundbreaking initiatives.
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He mentioned initiatives such as the State Treasury Single Account (TSA) and the newly implemented E-tax billing system.
“These reforms have not only streamlined tax and revenue collections, but have also fostered an inclusive environment, ensuring that no stone is left unturned in the quest for economic growth.
“One of the key catalysts for this extraordinary success has been the administration’s unwavering commitment to plugging leakages in the state’s financial system.
“By identifying and addressing these vulnerabilities, Gov. Radda’s team has effectively stemmed the tide of revenue loss, paving the way for an unprecedented influx of resources,” he said.
According to Mr. Kaula, Mr. Radda’s primary goal is to enable the state to achieve fiscal self-sufficiency.
By 2027, the state aims to cover its monthly and annual wage bills entirely through internally generated revenue.
Kaula expressed confidence that this ambitious goal might be reached even sooner, given the current rate of progress.
Mr. Kaula expressed confidence that this ambitious goal could be achieved even earlier than expected if the current rate of progress continues.