Govs Urged To Embrace Innovative Revenue Strategies For Devt

Managing director/CEO of Premium Trust Bank, Emmanuel Emefienim, the has joined forces with Dr. Ngozi Okonjo Iweala, the Director General of the World Trade Organisation, in a call to governors to increase the internally generated revenue (IGR) in their respective states.

Speaking at the sidelines of the Nigeria Governors Forum (NGF) induction ceremony, on Monday at the Presidential Villa, Abuja, Emefienim emphasised the need for state executives to reduce their reliance on the central government and instead explore innovative ways of raising IGR to drive development within their states.

By diversifying revenue streams, governors can enhance their capacity to deliver infrastructure development and provide greater benefits to the people.

Emefienim highlighted that the approach to generating IGR would vary depending on the state.

“For instance, an oil-producing state may focus on different revenue drivers compared to states like Anambra or Abia, which have a strong presence of retail businesses.

“It is crucial for governors to assess their unique circumstances and exploit the available opportunities in their respective environments,” he said .

As one of the sponsors of the event, Emefienim from Premium Trust Bank expressed appreciation for the induction programme, stating that it would equip governors with the necessary leadership skills to govern their states effectively.

He stressed that good governance, accountability, and development should not be solely the responsibility of the government.

The private sector, including financial institutions like his own, has an important role to play in supporting these endeavours.

Emefienim urged everyone to rally behind such initiatives and contribute to the progress and betterment of society.