By Our correspondent
A recent survey has revealed a significant financial achievement by the Anambra State Government.
The analysis shows that the state’s Internally Generated Revenue (IGR) is sufficient to cover its personnel cost, a feat that underscores the state’s fiscal resilience.
According to the survey, Anambra State generated an impressive N8.2 billion in IGR, surpassing its wage bill of N6.4 billion.
Historically, Anambra State has a track record of self-sufficiency. In the era of Governor Jim Nwobodo, workers’ salaries were said to be exclusively funded by revenue from the bustling Onitsha Main Market.
The current administration, led by Professor Chukwuma Soludo, has continued this legacy, implementing policies to boost IGR and reduce dependence on federal allocations.
However, some residents, particularly transport workers, have expressed concerns about heavy taxation by the Soludo-led government.
In response, the government had waived taxes for certain categories of people, such as wheelbarrow pushers and vulcanizers, to alleviate their burden.
Experts have cautioned that over-reliance on federal government revenue sharing can be detrimental to states’ development, as it creates a culture of dependence and undermines fiscal responsibility.
Anambra State has numerous viable markets that if IGR is properly harnessed in such sectors would boost the state’s revenue.
Some of the major ones are :
1.Onitsha Main Market: reputed as the largest markets in West Africa, with over 12,000 shops and stalls.
2.Nnewi Market: Known for its automotive spare parts and electronics.
- Eke Awka Market: A central market in the state capital, offering a variety of goods.
- Ogidi Market: Known for its building materials and hardware stores.
- Oye Olisa Market : A vibrant market offering food, clothing, and more.
- Relief Market (Onitsha): A popular market for electronics, home appliances, and more.
7 Bridge Head Market (Onitsha): A strategic market located near the Niger Bridge.
These markets generate a wide range of revenue to the state government.
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