Gov Fubara Opens Joint Tax Board Meeting In Port Harcourt & Calls For Responsible Taxation

Port Harcourt played host to the 156th Joint Tax Board (JTB) meeting on Wednesday, December 11, 2024, as Governor Siminalayi Fubara declared the event open with a call for fair and efficient tax administration across Nigeria.

Welcoming participants, Governor Fubara emphasized the importance of the JTB in driving socio-economic development through effective tax policies. “You are a very important institution, and the issues you tackle are critical to the development of our country,” he stated.

Acknowledging the financial challenges faced by state governments amid high inflation, Fubara highlighted the need for increased tax revenues without overburdening citizens. “In Rivers State, our strategy is not to impose more taxes but to broaden the tax base. This approach has significantly boosted our monthly internal revenue collections,” he noted.

The governor pointed out how the state’s improved tax revenue has been responsibly channeled into critical infrastructure projects, including roads, hospitals, and schools. Projects like the Trans-Kalabari Road, the Elele-Egbeda-Omoku dual carriageway, and the new Rumuigbo Psychiatric Hospital are all fully funded by internally generated revenue.

Fubara urged the JTB to consider policies that would encourage high-net-worth individuals to pay fair taxes voluntarily while investing their excess wealth in productive ventures. “A responsible tax system must be fair, serve public interests, and attract businesses and investors,” he said.

The meeting, focusing on strategies for taxing the super-rich, aims to develop recommendations to strengthen Nigeria’s tax system and support economic growth.

Governor Fubara closed his remarks by wishing the JTB fruitful deliberations and reaffirming his administration’s commitment to transparent and efficient tax practices.

With Rivers State setting an example of responsible taxation and strategic investment, the JTB’s discussions are expected to provide fresh insights for sustainable revenue generation nationwide.