The Chairman of the Plateau State Internal Revenue Service, Mr. Wayas Jim Pam, has stated that the state government has set a revenue target of N52 billion for the year 2025 and decried a situation whereby some wealthy individuals living and running businesses in Plateau State were paying their taxes elsewhere.
Addressing newsmen in Jos, Plateau State, on Friday, the chairman, who said the revenue base in the state has improved, stated that the state’s internally generated revenue (IGR) increased from ₦15.9 billion in 2022 to ₦31.14 billion by the end of 2023, surpassing ₦30 billion for the first time.
According to him, the State Revenue Services netted N3.3 billion in January this year alone as part of the efforts to meet the target set by the government, adding that the declining federal allocations due to debt servicing have forced the state to focus on IGR.
“When this administration started in 2023, I joined halfway through the year, and a lot has happened since then. In 2022, the total revenue generated was ₦15.9 billion. By the end of 2023, we were able to increase it to ₦25.8 billion. However, as of the close of business last year, we recorded ₦31.14 billion in revenue. This was the first time Plateau State exceeded the ₦30 billion benchmark in revenue generation.
“We need to start 2025 on a strong note, as the state government has set a total revenue target of ₦52 billion for the year. We began 2025 on solid footing. In January, we collected about ₦3.3 billion, one of the highest amounts ever collected in a single month. Compared to last year, when we generated about ₦1.6 billion in January, this represents a significant improvement in revenue generation,” he said.
The chairman mentioned that the federal allocations to the state have declined due to debts incurred in previous years, many of which were taken when the exchange rate was much lower, adding that most of the debts are foreign, and at the time they were taken, the exchange rate was around ₦440 to $1.
He further explained that the exchange rate has been fluctuating, sometimes reaching as high as ₦2,000 to $1 adding that this has severely affected the state’s subsidy allocation, which, for the past six months, has been in the negative.
“While federal figures may indicate that the state receives billions, by the time deductions are made, what actually reaches the state’s coffers is significantly lower. Therefore, the state must look inward for revenue, identifying new sources and plugging loopholes”.
The chairman also pointed out that the state has been losing substantial revenue, despite high levels of mineral extraction, adding that financial intelligence reports indicated that capital inflow into Plateau State from the mineral sector is estimated to be between $5 million and $15 million monthly.
Said he, Yet, none of this benefits the state, not even in terms of the 13% derivation on royalties. To the best of my knowledge, the only amount the state receives in royalties is around ₦300 million, despite billions flowing out of the state from mineral exports.”
He added that the recent suspension of mining activities was aimed at addressing both security concerns and revenue losses adding that this is further compounded by presence of undocumented foreign nationals operating in the mining sector.
“I wrote to the Nigerian Immigration Service requesting an expert quota assessment, and what we discovered was alarming. Many of these foreign nationals are not properly registered, and some have even opened multiple bank accounts under questionable circumstances. It appears to be a cartel, but we are determined to regulate the sector and ensure the state benefits.”
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