Home / News / Borno Generates N2.87billion Between January To February 2024, Says Professor Ibrahim

Borno Generates N2.87billion Between January To February 2024, Says Professor Ibrahim

By Inusa Ndahi, Maiduguri

THE Borno State Internal Revenue Service (BOSIRS), has said that N2.87 billion Internally Generated Revenues (IGR) have been collected in January to February 15, 2024.

 

According to the State government, the six-week IGR, was the first ever in the history of internal revenue service.

Unveiling the various tax reforms, over the weekend (Friday), in Maiduguri, BOSIRS’s Executive Chairman, Prof. Bello Alhaji Ibrahim, disclosed: “Since I assumed office in July, 2023, we introduced various reforms; which have been yielding results with increased taxes collected,

While reviewing last year’s IGR, he said: “Our revenue officers and other staff in the fields realised increases in the collected taxes and levies in July,” noting that there was, however, a slight decline in August and September.

He noted that there was an increase in revenues in October, November and December 2023.

Speaking on the sharp rise in generated revenues, he said: “In January, 2024 we collected N1.17 billion; but within 15 days of February, 2024 we generated N1.14 billion,” assuring that the revenue target of 27.4 billion IGR is promising in serving the people.

He noted that the revenue target of N27.4 billion could be realised with the introduction of tax payments automation and reforms.

“Borno is the first state ever to introduce automation in its revenue collection after the Federal Inland Revenue Service (FIRS).

He added that the tax reforms have blocked several leakages in the State’s tax administration and collection from the public.

In sustaining increased collection of taxes, Ibrahim said: “We’ve also introduced four alternative means of payments, including commercial banks, Point of Service (POS), Android phones and tax payments agents at no costs.”

He noted that tax payers, henceforth; have the opportunity of paying their annual taxes and levies in three instalments.

The tax boos, therefore, commended Governor Babagana Zulum for approving funds for the procurement of vehicles, computers and other equipment that eased the administration and collection taxes and levies from various business outlets and corporate organisations.

“We could not meet the targeted IGR of N9 billion in 2024; due to non-remittance of revenue from the office of Accountant General,” assuring that the N27.4 billion IGR in by end of this year is realistic.

Ibrahim continued; “The revenue board’s revenue target for 2024, is based on the projections from the generated revenues of N1.71 billion in January 2024.

In boosting the local economy of the state, the Governor disbursed N10 billion to small-scale business outlets and traders affected in the February 26, 2023 Monday market inferno.

He added that under the State’s Micro Finance Bank; over N4 billion was also disbursed for other small-scale businesses and traders in each of the 27 local councils.

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