The Edo State Governor, Mr. Godwin Obaseki, has proposed a N6 billion monthly internally generated revenue beginning January next year (2023) for the State, to shore up revenue for the execution of projects across the State and meet other financial obligations as the nation’s economy grapples with liquidity crunch.
Chairman, Taskforce on Edo State Internal Revenue Service (EIRS), John Inegbedion, said this on Wednesday after the weekly State Executive Council (EXCO) meeting in Government House, Benin City, the State capital.
EXCO also ratified the payment of N25,000 (twenty five thousand naira) for land search at the Edo Geographic Information Service (EdoGIS) before people can embark on property development in the State, urging residents to ascertain the status of their lands before building.
Inegbedion said: “At the weekly EXCO meeting part of the review was the performance of the State Internally Generated Revenue for the first nine months. We are pushing the numbers and as of today, we are at N26 billion.
“However, for the last quarter we are expected to do additional N12 billion to close with N38 billion. But as the Governor sees things now, the country is in dire need and the State needs to meet its obligation, we clearly would need six billion monthly IGR to keep the State afloat. Most of the new revenues are going to come from land-related transactions as we have observed that land is our crude oil in Edo and we will be putting in place all necessary frameworks, laws to ensure that we maximize all available taxes collectible in our land administration.”
Commenting on the several land management initiatives, Commissioner for Physical Planning, Housing, Urban and Regional Development, Isoken Omo, said: “Our land in Edo is our crude oil. So, there are initiatives we are going to come out with before the year runs out and which will also help us drive our revenues next year, and from these initiatives, we are going to look at a unified zoning system for land across the State.
“It will be location-based and this information will be shared and that will help us to monitor our land. Other things that will be coming out are the fact that we need to ensure that all land transactions are duly registered with the relevant agencies. We would not, going forward, allow land transactions to go on outside the knowledge of the government. The lands have to be warehoused and transacted within systems where we can monitor what is going on.
“Secondly, you will also not be able to develop without approval because that also ensures that the master plans that we are producing at the moment, that what you are developing matches it.
“In the last two weeks, we have taken over a portion of our new town development. Because of the pressure on infrastructure in Benin City as it is, and the issue of irregular and indiscriminate development that is causing slums, erosion, we are now developing a new town which is a planned town to take away the pressure from the city centre.
“And we have taken possession of part A of this town, B, C and D are within this new town development. So, we would enjoin everybody in those portions to please refrain from developing because we do not want you to be caught in a corridor where infrastructure is coming up and you might be on the right of way. So, we enjoin you to please stop development, clear with the Ministry before you continue, so we would guide you, so you do not lose money.
“It is also safer this moment, to say to you that N25,000 search at EdoGIS will save you a lot from investing in a land that is encumbered. So N25,000 for rest of mind is better than you wasting your money on land that is owned by the Government, or on a moat or right of way where you would not be allowed to develop.
“We thank you so much for your support so far and we continue to ask you to continue to support the Government so that we can provide the necessary infrastructure and services that are required from us.
