By Paul Nwosu
It is crystal clear to all that we are living in an era where the value of the scarce financial resources available to governments around the country has drastically dropped, comparative to what it used to be.
This has compelled states, including our own dear Anambra, to become more resourceful by looking inward. And the only way to go is of course Internally Generated Revenue (IGR), but that is for only those who have the fat cows to produce the milk.
Anambra State happens to belong to this very privileged club, after Lagos and the three major oil-producing States. With an estimated N20-trillion size economy in terms of GDP, it is expected that Anambra State Government revenue from taxes alone should go a long way to significantly buoy up the state’s treasury. When the now devalued receivables from the Federal Account Allocation Committee (FAAC), Abuja, are added, the government ought to be able to dispense with major capital and recurrent expenditures with greater ease and can afford to sleep well.
Unfortunately, this is not the reality on the ground, and many have continued to ask the question: Why is it not? Because just one (1) percent of that amount will jangle the alert of the government’s account for good.
The harsh reality is better illustrated by the inflow to the government’s coffers last year, 2023. The total FAAC that came to the Anambra State Government was N133 billion. The IGR realized in the same year was N28.3 billion, amounting to a total inflow of N161.3 billion. Impressive as this might appear, this is just about 0.805 percent of the total size of the economy which is estimated at 20 trillion Naira.
What this reveals is that well over 99 percent of the funds in the Anambra State economy is circulating in the private sector while less than one (1) percent is with the government.
In light of this huge obvious fiscal potential, Anambra State could easily rank second after Lagos in terms of IGR. This is unfortunately not so as the economy comprises mainly of the informal sector where the small-scale businesses hold sway. Unlike the formal sector where many decades of strong legal framework have ensured a seamless taxation process, taxing the informal sector is fraught with all manner of problems, including political blackmail. Most democratically elected governments have learnt to tread carefully to avoid the landmines.
How then does a government that is eager to improve the quality of lives of its people proceed with the lofty agenda it has up its sleeves?
Governor Charles Chukwuma Soludo, CFR, has a well-thought-through pragmatic agenda to transform Anambra State into a liveable and prosperous homeland that every Anambra person will be proud of.
His sterling performance in just two years in office without borrowing a Kobo is a testament that whatever he has promised Ndi-Anambra is realizable. If he can achieve so much within a short space of time and with so little, it then goes to foretell what he can do in the life span of his administration and with the support of his people.
The illustrious sons and daughters of Anambra State, home and abroad, have a sacred duty to partner with Governor Soludo at this critical time to transform our dear state into a viable and enviable prosperous corridor in this country. Anambra has the right kind of people that can make this happen. Leo-Stan Ekeh, the CEO of Zinox Computers, who is not from Anambra State, once said: “The wealth, energy and knowledge per square metre in Anambra does not exist in any other part of Africa.”
Governor Soludo has continuously vowed that he will publicly account for every Kobo put in his hands to work for Ndi-Anambra. He has recently been proven right by a dispassionate independent report of BudgIT which ranked Anambra State as the first among the States Fiscal Transparency League (SFTL). That is Professor Soludo’s handiwork.
Mr. Governor is therefore inviting wealthy Ndi-Anambra in the country and the Diaspora to take advantage of the Public Community Private Partnership (PCPP) by collaborating with the State Government to engage in developing specific projects in their respective communities and local governments. They can get involved by adopting schools, health facilities, roads, water projects, etc. in their communities. They can construct new ones; renovate and rehabilitate existing ones; provide the needed equipment to make the facilities function optimally, and so on.
Some prominent Ndi Anambra have already started this partnership as exemplified in the string of projects commissioned by Governor Soludo at the end of year.
Given the obvious paucity of funds, the government cannot possibly provide all the 179 communities in Anambra State with all their infrastructural needs at the same time.
It is noteworthy that without the money of the American Jews in the Diaspora, the emergence of the State of Israel would not have been possible. This development model should be embraced by Anambra’s illustrious sons and daughters.
Let’s be our brothers and sisters’ keepers. “Onye aghana nwanne ya.”
*Paul Nwosu*
Commissioner for Information
Anambra State
