Economy

FCT minister moves to improve Abuja revenue profile

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FCT minister moves to improve Abuja revenue profile

By Salisu Sani-Idris

CTF Minister Malam Muhammad Bello tasked Internally Generated Income (IGR) stakeholders to work on improving revenue generation in the territory.

CTF Permanent Secretary Olusade Adesola, in a statement Tuesday in Abuja, said Bello made the appeal during a stakeholder retreat on “Towards a Harmonized Revenue Management Framework in the CTF », Organized in Lagos.

The Minister stressed the need for FCT stakeholders to work diligently to improve the income profile and overtake Lagos State in the subsequent IGR.

Bello, in his opening remarks at the retirement, emphasized the need for FCT to increase its income generation.

“In a nutshell, the CTF is not doing badly, but it’s not yet uhuru because we are performing well below our expectations in terms of revenue generation.

“I am convinced that this retreat will allow us to consolidate and reposition ourselves on the right pedestal to even take back Lagos in the field of IGR.

“Our IGR in terms of per capita in 2020 actually placed us next to Lagos State, ahead of Rivers State with N 24,600 per person, judging by the census FCT population estimates. of 2006, including the five percent growth rate between 2016 and 2020.

Rivers State ranks third with a per capita IGR of N15,280. However, in terms of total IGR amount for 2020, FCT generated just over 102 billion naira and was ranked third behind Rivers State, which achieved 117.19 billion naira.

The Minister of the FCT was represented at retirement by the Permanent Secretary of the FCTA, Mr. Olusade Adesola.

He stressed that with its enormous potential and unique status as the seat of the federal government, the CTF should naturally do better.

“With the enormous resources we have in the CTF, if properly harnessed and managed efficiently, no one will see us back in generating income.

“And we won’t have to ask the federal government for an allowance when we can actually raise that money and see the federal allowance as additional income.”

“Our IGR alone should be more than sufficient to ensure self-sufficiency in the provision of efficient services and infrastructure, up to global standards, for all residents, all Nigerians and visitors.”

Source: NAN

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