Ondo Council Boss Sets Up Taskforce to Improve IGR

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The Caretaker Chairman, Okitipupa Local Government Area of Ondo State, Omo’ba Abayomi Adesanya, has inaugurated taskforce to improve on its Internally Generated Revenue (IGR).
Adesanya while inaugurating the Taskforce, charged members to do their best to ensure that the council received more funds for its developmental projects.
He added that the council would not only depend on the state or federal government allocations for its survival, but intensify efforts to ensure that more funds are generated from the public.
“The development of Okitipupa council area and delivering dividends of democracy to my people is my priority as their servant here.
“The council cannot depend on Federal or state government alone for survival, but should also look out on new ways of generating more funds for its developmental initiatives.
“I am inaugurating the taskforce on IGR to achieve all these and the taskforce must do its best for the council to enable it to reclaim its lost glory,’’ Abayomi said.
The taskforce is made up of nine members; three(3) Supervisors and six(6) local government staff.

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The fiscal composition and status of sub-national governments

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Every fiscal year comes with both new challenges and backlog from the previous fiscal year. Often, it is the ability to meet fiscal responsibilities in the capital and recurrent terms as well as coordinating a proper debt management scheme that moderates debt obligations on the future generation. That is, high debt today implies higher taxes tomorrow. This year, it is the legislation on the minimum wage and an over-hang in sub-national and national debts.

The minimum wage is a law which sets the smallest wage an employee can pay the last worker. The minimum wage is subject to periodic reviews so as to reflect the current realities in an economy. While meant to close the gap in income inequality, it is a major call for concern along a 3-dimensional issues space – government, policy and the people – for states in Nigeria. A policy on minimum wage increases the fiscal burden on government and firms, while it expands the income to the household – with the possibility of labour cuts and wage-induced inflation, however.

A number of states have revealed theirincapacity to meet the full obligations that follow the legislation on the new minimum wage of N30,000.They cite growing debt profile and non-increasing revenues as the major reasons. In 2018, the average state debt which stood at NGN138.25 billion and the average debt per capita of NGN24, 100 provide some insight on the fiscal stance across the 36 states of the federation.Ogun, Kano and Bauchi are the average states in terms of debt, while Plateau, Abia, Adamawa, Ebonyi and Ogun are the average in term of debt incidence (per capita).

Further into specific states, 9 states have debt per capita above the new minimum wage of NGN30,000 – with Lagos as the highest with NGN … Read More...