Bothered by the dire consequences of the global economic crisis on the finances of all tier of governments in the country, the Nigeria Governors Forum NGF is holding the First National Round Table on Internally Generated Revenue, IGR to fashion out ways of boosting revenue generation in the country.
The gathering which would critically address the paucity of revenue occasioned by the global crisis would attract political stakeholders and financial experts who would brainstorm on ways to boost the revenue base of the states and local government councils in the country.
The Director General of the Nigeria Governors Forum NGF, Ashishana Okauru who disclosed this while fielding questions from newsmen stressed that the forum was determined help the states and their local government councils improve their internally generated revenue to augment the shortfall from the Federation Account.
He said that the NGF as a group that services the 36 state governors resolved to work with her consultants to assist the states and the local 774 local councils of the Federation take advantage of internal revenue sources, which they had hitherto not exploited.
Okauru stated that the round table billed to hold between November 16 and 18, would at the end of the day create a leeway for the local government councils and states of the federation to exit the ravaging effects of the global economic down turn that had crippled economic activities in the country.
According to him, â€œThis first National Round Table on Internally Generated Revenue has as its theme, â€˜Surviving the downturn; refocusing on internally generated revenueâ€™. For us, we want to build a stronger economic foundation for our states and councils, which cannot be easily weakened by upheavals in the international financial arena or the fluctuations of the revenue accruing from the Federation Account to the two tiers of governmentâ€, he said.
He stressed that the gathering would provide a platform for Governors in the country to share information on their internal revenue generation mechanisms and to a large extent proffer practical approaches to deciphering the cash crunch the states and councils are confronted with as a result of the global crisis.
Okauru said that while two governors, Babatunde Fashola of Lagos State and Adams Oshiomhole of Edo State would present position papers on revenue generation, fourteen other governors would form the bulk of discussants, while some relevant ministers are also billed to participate in the forum.
Also speaking on the proposed summit, the Tax and Advisory consultant to the NGF, Ilyasu Gashinbaki, who highlighted the benefit of the summit to the improvement of the revenue profile of states and local government councils in the country stated that the round table was designed to take states and local councils to a new level in internal revenue generation.
While expressing confidence that the ideas generated during the round table would help in resuscitated the nationâ€™s battered economy stressed, â€œWe expect a harvest of credible and practical solutions to the problems associated with Internally Generated Revenue IGR, in the nationâ€.