Governor Rotimi Akeredolu of Ondo State has said there was need for Nigeria to develop strategies that would enhance the country’s internally generated revenue because of the declining revenues from the oil sector.
The governor, who spoke on Wednesday in his keynote address at the ninth Chartered Institute of Taxation of Nigeria Zonal Conference, held in Akure, the state capital, said the way out of the current economic challenges was to look inward and generate revenue aside from the one coming from the oil sector.
Akeredolu, who was represented by his deputy, Mr Lucky Aiyedatiwa, said: “Every attempt for sources of revenue by the country is a step in the right direction.
“This will break the syndrome of over-dependence on petro-naira that has subjected our fortune as a country to the vagaries of oil prices in the oil markets.
“We must therefore find ways to reduce our over-dependence on revenue from the oil sector. It is a well-known fact that Nigeria is favoured and bountifully blessed with good people who are willing to perform their obligation if necessary machinery is put in place.”
He further noted that his administration had done a lot to reposition and strengthen the relevant agencies of government responsible for IGR, especially the state internal revenue service for better performance.
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