Funding FCT budget with 100℅ IGR possible – Official
The Federal Capital Territory Internal Revenue Service (FCT-IRS) says funding FCT budget with 100 per cent Internally Generated Revenue (IGR) source is possible with collaboration and synergy with other revenue generating agencies in the territory.
The Acting Executive Chairman of the service, Mr Haruna Abdullahi, said this in a statement by the Head, Corporate Communications, FCT-IR, Malam Mustapha Sumaila, on Sunday in Abuja.
Abdullahi stated this when he received a delegation from the Directorate of Road Traffic Services (DRTS) led by its Director, Alhaji Wadata Bodinga, at the services headquarters in Abuja.
He explained that the service has been championing the course of harmonising revenue from all revenue generating agencies in the FCT with a view to block leakages, address multiple taxation and grow the revenue base in the FCT.
According to him, the effort will make the Federal Capital Territory to have capacity to fund its budget solely through the IGR.
“We hope to see that FCTA will fund its budget 100 per cent from the IGR, so that whatever comes from the Federal Government as allocation, will be a surplus for them.
“From the management to the board and all other stakeholders, this is what we want and will be excited about this development, talking and finding solutions.
“We are passionate about harmonisation, I mean to harmonise the whole collection processes,” he explained.
The acting executive chairman reassured the team of the service’s continued support, stating that FCT-IRS has been working tirelessly to raise and enhance the revenue base in the FCT.
He said in view of this, he would continue to extend hand of friendship across all revenue generating agencies in the territory.
Abdullahi also said that the service would review the priorities of DRTS in order to identify more areas for sustainable collaboration in order to enhance revenue generation.
Earlier, the DRTS Director said the visit was targeted at three major areas of collaboration, support and training.
Bodinga stated that DRTS under his leadership was committed to ensuring safety and orderliness in the FCT as well as to strengthen the existing collaboration between DRTS and FCT-IRS to boost revenue generation.
On the benefits of the collaboration between DRTS and the Service, the FCT-IRS Director in charge of ICT, Oduba Oduba, explained that it would help in facilitating the exchange of data between revenue generating agencies.
Oduba also said that the collaboration would improve road infrastructure through the revenue generated.
Also, the Head of Planning, Research and Statistics, DRTS, Mr Wale Durojaye, expressed the readiness of DRTS to provide data, reports and projections needed to facilitate FCT-IRS collection.
Meanwhile, a committee had been constituted to articulate and harmonise areas of possible collaboration between the two organisations with a view to boost revenue collection.
The members are Mr Malik Tukur, FCT-IRS Director, Taxes; Oduba Oduba, Director in charge of ICT, FCT-IRS, while Head of Planning, Research and Statistics, DRTS, Mr Wale Durojaye, and the DRTS Head of ICT, Mr Auwal Mohammed, are also part of the committee.