DANIEL DAUDA, Jos
The Plateau State Board of Internal Revenue Service (PSIRS), has confirmed they were able to gain a whooping sum of N31.14 billion internal generated revenue (IGR) as of the close of business last year 2024.
Chairman of the service, Jim Pam Wayas acknowledged that the state recorded significant growth in revenue, surpassing N30 billion for the first time in its history.
Wayas, while speaking to newsmen in Jos on Friday at the PSIRS conference hall, said their tax system need to be overhauled to enable the government to put necessary infrastructure for the betterment of citizens.
“When this administration started in 2023, I joined halfway through the year, and a lot has happened since then. In 2022, the total revenue generated was ₦15.9 billion. By the end of 2023, we were able to increase it to ₦25.8 billion. However, as of the close of business last year, we recorded ₦31.14 billion in revenue. This was the first time Plateau State exceeded the ₦30 billion benchmark in revenue generation.”
Looking ahead, the said state government has set a total revenue target of ₦52 billion for 2025.
“We need to start 2025 on a strong note, as the state government has set a total revenue target of ₦52 billion for the year. We began 2025 on solid footing. In January, we collected about ₦3.3 billion, one of the highest amounts ever collected in a single month. Compared to last year, when we generated about ₦1.6 billion in January, this represents a significant improvement in revenue generation.”
He further noted that federal allocations to the state have declined due to debts incurred in previous years, many of which were taken when the exchange rate was much lower.
“Many people are asking about the revenue being generated internally and questioning what is coming from the federal allocation. The truth is that federal allocation to the state has been declining, mainly due to debts incurred in previous years.
“Most of these debts are foreign, and at the time they were taken, the exchange rate was around ₦440 to $1.Today, the exchange rate has fluctuated, sometimes reaching as high as ₦2,000 to $1. Even as of yesterday (Thursday), it was about ₦1,500. This has severely affected the state’s subsidy allocation, which, for the past six months, has been in the negative. While federal figures may indicate that the state receives billions, by the time deductions are made, what actually reaches the state’s coffers is significantly lower.”
Wayas stressed that the state must look inward for revenue, identifying new sources and plugging loopholes.
“We are now exploring our Internally Generated Revenue (IGR) potential, and I must commend Governor Caleb Mutfwang for taking bold steps to do things differently. The entire revenue system is undergoing transformation, and we are identifying untapped revenue sources.
“We are intensifying collaboration with Joint Tax Board, Tax Appeal Tribunal, Federal Inland Revenue Service and other stakeholders in the revenue sector to ensure revenue collection becomes seamless”, he mentioned.
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