Home BUSINESS BANKING & FINANCE Abuja Administration Pledges To Make N150 Billion From Taxes This Year

Abuja Administration Pledges To Make N150 Billion From Taxes This Year

FCTA John Chukwu
The Federal Capital Territory Revenue Board has pledged to rake in N150 Billion per annum as internally generated revenue.
The Board, under the Permanent Secretary, Engineer John Chukwu and a former Director in the FCT Administration, Mohammed Ari, has as its mandate, the generation of N150 billion annual internal revenue, which it promised to fulfill.
The board is also expected to harmonize its activities with the Federal Inland Revenue Board and the Six Area Councils of the capital city, for effective revenue synergy.
Last Wednesdays visit to the President Muhammadu Buhari by the FCTA management has clearly brought out the need for the intensification of local revenue generation as hammered by the federal government during the visit.
The Vice President, Professor Yemi Osinbajo had given the FCT delegation a marching order recently to intensify efforts in internal revenue generation.
The Revenue board has former FCT-PRS Director as its Chairman with Mohammed Bomai, Director of Treasury, as deputy Chairman.
The board, according to sources, is hoping to effectively implement property Tax and entertainment as well as other numerous taxes to be able to meet up the target.
Other sources being targeted for the generation of such revenue, according to information, are market fees, rents from lock-up stalls, tenement rates, utility bills, levies and surcharges on local roads, parks, halls, rent on the big offices and houses, etc.  [myad]

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