Gov. Otti Tasks Ministerial, Agency Heads On Strategies To Shore Up Internal Revenues

Dr Alex Otti, Governor of Abia State, has directed the heads of government ministries, departments, and agencies (MDA) to develop workable and long-term strategies to boost the state’s Internally Generated Revenue (IGR).

According to Kazie Uko, the Governor’s Chief Press Secretary, Otti delivered the charge on Saturday at Government House in Umuahia, during a follow-up retreat where MDA heads led their teams to present strategies to strengthen their revenue profiles and make the state fiscally viable.

He predicted that the state’s IGR would increase to the point where it would no longer require borrowing to fund its 2024 budget.

According to the Governor, “If we do what we should and do it right, there is no reason why the over N400 billion that is supposed to be raised as loans (to finance the 2024 budget) should not be reduced to the bare minimum.” As a result, we anticipate that Internally Generated Revenue will grow and take over our loan provisions. So, in layman’s terms, we expect to have borrowed less money by the end of the year than we had planned.

The Governor previously stated that governments generate income to spend it, calling the situation in which states seek allocation from the federal government a misnomer. He expressed hope that if the necessary steps are taken, the State will not have borrowed as much as it had budgeted for by the end of the year.

Governor Otti also took the opportunity to clarify the repeal of the pension law for ex-governors and their Deputies in the State, describing the action as part of the government’s effort to reduce the cost of governance rather than a political witch-hunt against any individual.

“So, when you saw that we put through our resolve to cut the cost of governance by stopping frivolous payments to people who have left government (former Governors and their Deputies), it is because we just believe that the right thing should be done. We will soon be former Governors, so the policy is not directed at anyone in particular; rather, it is intended to promote good governance and reduce governance costs. And, frankly, we believe it is the right thing to do.

“We do not think that politics is a business.” We believe that people should have tasks to complete before coming to serve and that if you have offered to serve, you should be willing to make the necessary sacrifices.

“If you find yourself in this situation, consider yourself fortunate that others believe in you and support you with their votes. It is a privilege, and all that is required of you is to make sacrifices for the sake of the state. So the days of money-sharing and blood-tonic politics are over. “Now is the time to make sacrifices for the sake of the state,” the Governor stated.

In his speech, Commissioner for Finance Mr Mike Akpara stated that there was a need to change the narrative and that the government needed to do things differently by generating massive IGR.

While explaining that the government would not overtax people, he stated that all taxes would be based on what the government promised the people, and he urged everyone to contribute to the state’s revenues.

“If we want to reduce our debt load, we must do something different. We are not going to repeat our previous actions and expect a different result. What are we going to do? We will generate a significant amount of Internally Generated Revenue, making our job easier and allowing us to deliver on the democratic dividends that we promised the people,” Akpara said.