Okon Bassey
1 March 2008
Uyo — In order to avoid future financial crisis occasion by shortfall in the federal account, Akwa Ibom State Government plans to completely review upward the state Internally Generated Revenue framework.
The state Commissioner for Finance, Mr. Bassey A. Akpan who disclosed this at a meeting with Permanent Secretaries in the State Civil Service said, already, a technical committee has been constituted to process all inputs toward the review, and recommend policy changes, rate increases and enforcement machinery to the state Executive Council for approval.
To keep the development activities in the state uninterrupted, he said the state government must review all rates and levies as well as explore revenue potentials in all organs of government to strengthen the resource profile of the state.
The Commissioner said the exercise was to avoid over dependent on the federal account as the state Governor, Chief Godswill Akpabio was not prepared to use the incidents of shortfall in federal allocations as an excuse to fail to deliver on his campaigns promises, policies, projects and programes as and when due.
The Commissioner said the state Governor was concern in a situation where a state tight source of its revenue on the federal account saying the Akwa Ibom State Government has determined not to depend entirely on the Federation Account distributable revenue for its survival.
Akpan, accordingly challenged the Permanent Secretaries to prepare to play key role in the up coming internally generated revenue machinery of the state, urging them to articulate all revenue potentials, highlight un-enforced existing sources and report back within three days.
He frowned at the budgeting trend in the Civil Service in which Ministries and Departments concerned themselves with only the expenditure side o f the budget and gave very little and negligible attention to the revenue side that would back up the expenditure.
Speaking on behalf of his colleagues, the Permanent Secretary, Political and Legislative Affairs Bureau, Elder Nnamnso Umoren lauded the vision of the state government to change the financial fortune of the state and pledged their commitment to the process.
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