The World Bank has advised state governors to adopt a new technology that will boost their internally generated revenues to avoid over reliance on external borrowing.
The country representative of World Bank in Nigeria Mr. Rachid Benmassaud gave the advice at the fourth Nigeria Governors Forum, IGR peer learning event in Abuja.
The theme of the event is “Mobilizing Domestic Financing was organized by the secretariat of the Nigerian Governors forum to strengthen increase in IGR in the 36 states and rhe FCT.
The World Bank country Director, represented by Mr. Bayo Awoshemi attributed some of the problems in states to outdated tax collection methods which do not work.
Governor Godwin Obasaki of Edo state said public finance was key to any developmental project, saying his state had introduced a revenue identification number to increase revenue.
The Kaduna State Governor, Nasiru Elrufa’i explained that the state had deployed tax payer machines to the 23 local governments aimed at generating 5 billion naira monthly.
Governor Abdulfatah Ahmed of Kwara state described the event as timely as the nation prepare for a new National minimum wage and maintained that no state could progress without a robust tax system.
Chairman of Federal Inland Revenue Service, Mr. Babatunde Fowler, Represented by the Executive Secretary of Joint Tax Board, Mr. Oseni Elemah said the Board was making effort to ensure adequate data on revenue generation.
The Director General of the Nigerian Governors forum, Mr. Ashishana Okauru said the secretariat would continue to initiate programmes that would make state government officials accountable.
The event was attended by some governors and state commissioners for Finance.