As the country’s economy struggles with a lack of liquidity, Edo State Governor Mr. Godwin Obaseki has proposed an N6 billion monthly internally (IGR) generated revenue for the State to start in January 2023. This would help the State meet other financial obligations and provide funds for the implementation of projects throughout the State.
John Inegbedion, the chairman of the Taskforce on Edo State Internal Revenue Service (EIRS), made this statement on Wednesday following the weekly State Executive Council (EXCO) meeting held in the state capital of Benin City at Government House.
In addition, EXCO approved the payment of N25,000 (twenty-five thousand naira) for land search services at the Edo Geographic Information Service (EdoGIS), advising citizens to check the status of their properties before beginning construction.
According to Inegbedion, the performance of the State’s internally generated revenue for the first nine months was reviewed during the weekly EXCO meeting. Right now, we are at N26 billion as we continue to push the numbers.
“But in order to close with N38 billion, we need to generate an extra N12 billion in the final quarter. However, given the current state of affairs and the need for the State to fulfill its obligations, the Governor believes that the State will obviously require six billion IGR per month in order to survive. Land-related transactions will account for the majority of the new revenue because, as we have seen, land is Edo’s crude oil. To ensure that we maximize the amount of taxes that can be collected through land administration, we will be putting in place all the necessary frameworks and laws.”
Isoken Omo, Commissioner for Physical Planning, Housing, Urban and Regional Development, commented on the various land management initiatives, saying: “Our land in Edo is our crude oil. As a result, we have some initiatives that we plan to launch before the year ends that will also help us increase our revenue the following year. One of these initiatives is the creation of a statewide uniform zoning” system for land.
“Our ability to monitor our land will be aided by the location-based system and sharing of this data. The requirement that all land transactions be properly registered with the appropriate authorities is another item that will be revealed. From now on, we would not permit land transactions to occur without the government’s knowledge. It is necessary to store and handle the lands in systems that allow us to keep an eye on everything.
“Secondly, you will not be permitted to proceed without authorization, as this guarantees that the master plans we are currently creating align with what you are developing.
“Two weeks have passed since we took control of some of our new town development. Due to the current strain on Benin City’s infrastructure as well as the problem of haphazard and indiscriminate development leading to slums and erosion, we are currently creating a planned town to relieve some of the pressure on the city center.
“And we have taken over section A of this town; sections B, C, and D are part of the newly developed town. We therefore ask everyone in those areas to please hold off on developing, as we do not want you to find yourself stuck in a corridor where infrastructure is being built and you may have the right of way. In order for us to help you and prevent financial loss, we kindly ask that you halt development and consult the Ministry before moving forward.
“It is also safer to tell you right now that doing a N25,000 search on EdoGIS will save you a ton of money compared to buying encumbered land. Therefore, paying N25,000 for peace of mind is preferable to squandering your money on government-owned land or on a right-of-way or moat where development is prohibited.
“We sincerely appreciate your support thus far, and we kindly request that you keep supporting the Government in order for us to be able to deliver the services and infrastructure that our constituents demand.”
