Wednesday, February 15, 2017 2:25 pm
Enugu State’s 2017 budget will provide the template for the realisation of N2 billion monthly Internally Generated Revenue (IGR), the state Commissioner for Finance, Mrs Eucharia Offor, has said.
Giving the budget breakdown on Wednesday in Enugu, Offor said that provision had been made in the budget for the upgrade of the Information and Communication Technology (ICT), to harmonise the revenue base of the state.
“The budget will expand the revenue base of the state through the upgrade of ICT infrastructure, to streamline all revenue generating departments and agencies.
“We also intend to review and update relevant laws that will support a robust and transparent revenue administration to realize our target of N2 billion monthly.”
Offor said that the budget would ensure adequate resource allocations for the completion of ongoing projects initiated in the 2016 budget and other projects initiated in the 2017 fiscal year.
The commissioner said that N570 million was allocated to the Board of Internal Revenue to enable it to achieve its mandate.
She said that the 2016 budget was judiciously implemented and had laid a template for the successful implementation of the current.
She said that one of the major achievements of the 2016 budget was affording the the state government the opportunity to fully implement the Treasury Single Account (TSA) and the adoption of the International Public Sector Accounting Standard in the state.
The News Agency of Nigeria (NAN) reports that the state government budgeted N105.92 billion in 2017 as against N85.18 billion the previous year.
Offor said that the increase was necessitated by an expected revenue inflow from the refund of over-deduction of external loans by the Paris and London Clubs.