BudgIT Rates Rivers High On IGR

A good governance, transparency and anti-corruption civic organization that applies technology to intersect citizens’ engagement with public sector institutions and organisations to facilitate societal change, BudgIT, has reported that of the four oil-producing states in the Niger Delta, Rivers State had the lowest dependency ratio on the Federation Accounts Allocation Commission (FAAC) allocation in the prosecution of its policies and programmes.
The report made public, last Friday, from the verified Twitter handle of BudgIT, revealed that, “In 2019 alone, Rivers State’s Internally Generated Revenue (IGR) covered 46 per cent of its total revenue, while its average dependency ratio on FAAC and 13 per cent derivation between 2015 and 2019, stood at 55 per cent.
“Rivers State’s revenue in 2019 was N140.39billion, with Pay As You Earn (PAYE) constituting 72 per cent mainly from the state’s civil service; four per cent from the Ministries, Departments and Agencies (MDAs), five per cent from direct assessment, and three per cent road tax payments.
“Between 2015 and 2019, Rivers State received N402.24billion and N637.75billion as 13 per cent derivation and total net FAAC allocation, respectively.
“With an average dependency ratio of 55 per cent in five years, Rivers State is doing considerably well with its IGR, compared to other states.
“Notwithstanding, the state can still do better by tapping into various resources within the state that can generate income.
“Rivers State’s domestic and external debt of Rivers State has been increasing steadily over the past years. Total debt rose from N211.51billion in 2017 to N290.93billion in 2019″, BudgIT added in the report.
A recent report by ‘Sahara Reporters’ indicate that but for the criminal activities of some unscrupulous and fraudulent revenue officers, the Rivers State Government would have been making far more than what it presently gets from IGR.
The report had revealed that just two tax officers at Rivers State Board of Internal Revenue offices at the State Secretariat and Rumuogba, had defrauded an undercover reporter, who posed as ‘student’ seeking Tax Clearance Certificate (TCC) to the tune of N195,000, being money meant for the state government.
In the transactions executed between September and November, 2020, one Diri Ibieri Tonye and Legbosi Ikpabie, had been fingered as two of the many corrupt tax officers, who divert billions of scarce funds required by the government to address the huge development challenges facing the state at this time.