Rivers
How To Boost Rivers Internal Revenue -Expert
An economist and senior lecturer in the Department of Banking and Finance, Rivers State University, Prof. Ayodele Momodu has called for more efforts to boost the state’s Internally Generated Revenue (IGR).
Commending the state Governor, Chief Nyesom Wike, during an exclusive chat with The Tide over rising revenue profile despite the harsh economic climate, Momodu said there was need to plug all leakages in the tax regime.
He stressed the need for government to reform its tax system such that people will be paying willingly without being forced to do so.
Momodu said there was need for more re-orientation of the citizenry on why they should pay tax considering the efforts and projects done so far by the Wike-led administration.
”We must not depend on forceful spending by the government becuase people don’t want to pay taxes,so we need a complete reform,” he submitted.
The Professor of Econometrics at the state university observed that most of the tax leakages stem from poor coverage.
“Everywhere I go, I see wastages,” Momodu stated, adding “everywhere has been turned to car parks and a lot of businesses sprouting along every inch of the road becuase the roads are now smooth and new.”
He argued that it is the responsibility of every citizen to pay taxes.
“It’s only civil servants and few companies that pay tax here and that makes it difficult for government to go into other areas of development because they have to use the allocation to build roads and other infrastructure.”
The university don maintained that every citizen must be dragged into the tax net as far as he or she is of age and working, adding “ any business you do is taxable according to the value it produces”.
Commenting on the state’s Golden Jubilee Anniversary, Momodu was of the view that the state has come of age economically and socially.
”One thing that we have achieved over the years is physical development. Today, there are new roads outside Ikwerre and Aba roads. A lot of businesses have moved into the state, and we have seen our revenue base expand as well.I think we have come a long way as a state”, he remarked.
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