Benin City — Governor Godwin Obaseki of Edo State has said that only 160,000 persons and organisations out of about four million people that reside in the state pay tax to the state coffers every month.
He, however, said that all the revenues collected from tax would be used for the execution of capital projects across the state.
Obaseki stated this yesterday when he hosted the President and Chairman of Council, Chartered Institute of Taxation of Nigeria (CITN), Chief Cyril Ikemefuna Ede, who paid him a courtesy visit at the Government House in Benin City.
He said: "As at the last count, only about 160,000 Edo citizens and corporate bodies pay approximately N2 billion monthly in the state out of a population of almost four million.
"Without fear of contradiction, not a kobo of tax money collected in Edo State is used for recurrent expenditure. All tax revenues are used for the execution of capital projects."
Besides, the governor said his administration would sign a multilateral Memorandum of Understanding (MoU) with the Nigerian Institute for Oil Palm Research (NIFOR) and private investors to add oil palm in the basket of export earning products.
He expressed hope that it is still possible for the country to bounce back to its place of pride in the production and exportation of oil palm.
Ede, who spoke earlier, commended the governor for the developmental strides recorded within his short period in office.