Ebere Uzoukwa, Ph.D
Abia State’s Internally Generated Revenue (IGR) is vital for economic stability, particularly with dwindling oil prices affecting federal allocations. The Nigerian economy’s heavy reliance on oil exports makes it vulnerable to fluctuations in global oil prices, impacting government revenue and economic growth.
The decline in government revenue due to fluctuations in global oil prices has affected economic growth and development in Nigeria. Diversifying the economy through investments in agriculture, manufacturing, and services is essential for long-term economic stability.
Under Governor Alex Chioma Otti’s administration, Abia State has seen significant development, with initiatives to improve infrastructure, healthcare, and education. To sustain growth, citizenry obligations like tax payments and statutory payments are crucial in reducing dependence on federal allocations.
Strengthening tax identification number policies and linking them to taxpayers’ bank accounts can improve revenue collection, reducing tax evasion and ensuring all eligible citizens contribute to the state’s revenue. The introduction of Abia State Social Identity Number (ABSSIN), a unique identifier assigned to residents of Abia State, is aimed at enhancing revenue generation, accountability, and public service delivery.
The ABSSIN and online tax adoption have shown a positive and significant relationship with IGR in Abia State, enhancing revenue generation and accountability. Citizenry compliance with tax payments promotes social responsibility, encouraging citizens to invest in the state’s development and hold the government accountable.
Governor Otti’s administration has demonstrated transparency and accountability in handling public funds, evident in completed and ongoing projects across the 17 Local Government Areas. This transparency has restored trust with citizens, promoting economic growth and development.
By diversifying the economy, promoting citizenry compliance with tax payments, and ensuring transparency and accountability in public fund management, Abia State can reduce its reliance on federal allocations and achieve sustainable growth. The state’s economy will become more resilient to fluctuations in global oil prices, and citizens will continually enjoy dividends of democracy under the present administration.
With the right policies and strategies in place, Abia State can achieve sustainable economic stability and improve the living standards of the people.
As Abia State continues to chart a new course towards sustainable economic stability, it’s essential for Abians, business owners, and entrepreneurs to demonstrate their support for Governor Alex Otti’s administration by fulfilling their statutory obligations of payment of taxes and other forms of revenues willingly. This gesture is a practical way of showing appreciation for the government’s commitment to transforming the state’s hitherto ruined infrastructure and socio-economic landscape. By regularly paying taxes and other revenues, citizens can contribute to the state’s growth and development, enabling the government to deliver more dividends of democracy to the people.
Dr. Ebere Uzoukwa is the SSA to the Governor of Abia State on Public Affairs.
