MICRO-CREDIT, TAX HOLIDAY: How 'Maigida' Ahmed is putting money in the pockets of Kwara people

Date: 2018-02-25

Governor Abdulfatah Ahmed of Kwara State, fondly called,"Maigida", rode on the crest of "Legacy Continues" to take over the reins of power from Dr Bukola Saraki in 2011. Governor Abdulfatah Ahmed of Kwara State At the initial stage, he struggled with the running of the affairs of the state as a result of poor allocations from the federation account. Today, he has not only surmounted the financial challenges faced by his administration, he has also finished all the projects he inherited from the last administration and embarked on new ones which are at various stages of completion. Ahmed, an expert in banking before he was appointed as Commissioner for Finance in 2003 in the administration of Saraki, took steps to boost the economy of Kwara, among his many bold decisions to deliver on his campaign promises. He reformed the tax system in Kwara such that today the returns have largely enabled the administration to fulfil many of its promises while many ground breaking projects were also executed from the resources. First, the governor explored the opportunities available in Small and Medium Enterprises (SMEs) which are the drivers of economic development. Micro-credit intervention In March, 2012, he launched the Kwara Micro-credit Intervention Scheme to assist small and medium scale enterprises in the state. N250 million was approved to kick-start the scheme under the supervision of the Bureau of Micro, Small and Medium Scale Enterprises. As of today, the state government has injected N1.28 billion into the scheme, leading to a turnover of N3b.

Under the scheme, a total of 1,848 cooperative societies have benefited with the programme helping members, spread across the state, to grow their businesses, thereby promoting even development in Kwara. Since the objective of the scheme is to provide financial support to small business owners, the entrepreneurs are better for it as the loans utilisation is monitored, leading to timely repayment which has stabilised their businesses.

Furthermore, about 53 associations, under the aegis of Artisan Congress of Kwara State, have benefited from the scheme while 150 taxis, 25 buses, 193 motorcycles and 25 mini buses were given to beneficiaries across the state. In a bid to transform Ilorin, stimulate commerce and attract investors, the Ahmed administration commissioned an ultra-modern shopping and office complex- The Hub. A similar project of 48 office spaces is being executed in Abuja.

Today, all the major streets in the state capital have street lights which make Ilorin a beauty to behold at night, while businesses are transacted far into the night. In the state government's commitment to expand employment opportunities and entrepreneurial development, a N500million computer village is under construction which will directly employ about 600 youths apart from the hundreds of indirect jobs to be created in the process of the construction.

Recently, the state government commissioned 10 buses, Maigida Soludero Mass Transit (MST), purchased for the National Union of Road Transport Workers (NURTW) through a credit facility under its micro credit scheme. Also, over 160 farmers' associations across Kwara benefitted from the micro-credit funding under the State's Off Taker Demand Driven Agriculture Scheme.

Overall, the state's MSME scheme has created economic opportunities and expanded the livelihoods of thousands of people with over 60, 000 people benefiting so far.

Also, in order to scale up his performance so as to further bring dividends of democracy to the doors of all and sundry, Ahmed established a revenue collection body, Kwara State Internal Revenue Service (KWIRS).

KWIRS, instituted over two years ago, replaced the state's Internal Revenue Board, with the mandate to boost the revenue collection capability of Kwara through a change in People, Process and Technology. Due to the effectiveness of KWIRS in opening up more collection points in the state with a stunning turnover of more than 300 per cent in its first year of existence, the chairmen of the 16 Local Government Areas (LGAs) of the state handed over to KWIRS the contract of collection of all legally designed areas of taxes points in their respective councils. The MoU with the councils has a sharing formula of 30 per cent (KWIRS) to 70 per cent (councils) under an arrangement named Joint Treasury Committee (JTC).

The result has been an incredible return of about N200 million in all the councils within months. For the year 2017, KWIRS has projected N664 million as Internally Generated Revenue (IGR) for the 16 LGAs.

The interesting aspect of it is that the revenue collection body did not introduce new taxes but simply blocked the loopholes and enforced the payment of all forms of taxes electronically.

The state government deliberately used the revenue strategy to rise from its current position to achieve the second highest IGR per capital in Nigeria by 2019 being convinced that the State has the population, commerce, resources and opportunities necessary for achieving a target of N60billion annually.

In furtherance of this, Ahmed also approved a 5-year tax holiday for new small businesses in the state. These interventions are designed to accelerate the informal sector by encouraging more entrepreneurs to start businesses without worrying about paying taxes until they are fully set up.

These decisions are in the firm belief of the governor that increase in revenues will not only enhance the lives of the people through better infrastructure but also see an increase in opportunities for collective prosperity.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Abdulmajeed Abdullahi     Okin Biscuits     Quareeb     Muhammed Akanbi     Umar Danladi Shero     All Confederation Of Principals Of Secondary Schools     Yusuf Lanre Badmas     Yahaya Muhammad     Ganiyu Abolarin     Sidikat Akaje     Lateef Ademola Olatunji     BECE     TIC     Olatunji Bamgbola     Durosinlohun Atiku     Muhammadu Gobir     AbdulHamid Adi     Samuel Adedoyin     Nnazua     ITEM 7     Simeon Ajibola     Summit University     AbdulRahman Saad     John Kehinde Salako     Kudirat Arinola Lawal     Kayode Oyin-Zubair     CACOVID Palliatives     Titus Suberu-Ajibola     Bolaji Aladie     Musa Ayinla Yeketi     Towoju     Okin Group     Olugbense     Lola Olabayo     Umar Bayo Abdulwahab     Suleiman Yahya Alapansapa     Yetunde Balogun     Sai Kayi     Kamoru Kadiri     Awoye     Fawenu     Akume     KWASIEC     Wasiu Odewale     Okin Biscuit     Oyin-Zubair     Ghali Muhammed     Maimunat Oloriegbe     Police Commissioner     Opaleke Bukola Iyabo     Fola Consultant     Ilorin Like-Minds     Taofik Abdulkareem Babaita     Simeon Sayomi     Shettima     Oluronke Adeyemi     Ohoro Of Shao     Kuliyan Geri     Owu Fall     Igbaja     Olaitan Adefila     Mubarak Oladosu     Ahmed Dankaya     Galland Marcias     General Tunde Idiagbon International Airport     Idofin     Kehinde Baale     Kanu Agabi     SGBN     Apaokagi     Solomon Edojah     Eleja     Shonga     Bayo Ojo     Ibrahim Oniye     Hijaab     Saudat Abdulbaqi    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Danhawa     Abdulfatai Ahmed     Muslimah Entrepreneurship Forum     Mohammed Ajia Ibrahim     Medinat Folorunsho Salman     Towoju     Transition Implementation Committee     Emir Of Shonga     Wakilin Mata Lafiagi     Wasiu Odewale     Oyeyemi Olasumbo Florence     Segun Adeniyi     Binta Abubakar-Mora     Raliat AbdulRazaq     Ibikunle Ogunleye     Adesoye College     Talaka Parapo     Aliyu Kora-Sabi     Aishatu Ahmed Gobir     Sunday Otokiti     Gani Saadu     Solomon Edojah     Ojo Fadumila     Jalala     Kunbi Titiloye     SSA Youth     Abdullahi Adisa Akodudu     Simeon Sule Ajibola     Tinubu     Ronke Adeyemi     Tunji Olawuyi     Ayekale     Ilorin Descendants Progressive Union     Yomi Adeboye     New Naira Notes     Bamikole Omishore     Alabi Lawal     Christopher Tunji Ayeni     National Association Of Nigerian Students     Salihu Alhaji Musa     Omar Gambari     Turaki     Sayomi     Alanamu     Ibrahim Sulu Gambari     Hamza Usman     Lanre Issa Onilu     Law School Scholarship     Leke Ogungbe     Wole Oke     Ayodele Shittu     JAAC     Elelu     Yinka Aluko     Tunde Saad     UNILORIN Alumni Association     Muslim Stakeholders Of Kwara State     Rapheal Ashaolu     Obuh     Salman Jawondo     Moro     Bola Olukoju     SUBEB     Ibrahim Abduquadri Abikan     Ibrahim Abdullahi     Kwara State Sports Commission     Hydro-electric Power Producing Areas Development Commission     Quareeb     Okedare     Kwara Restoration Project     Moji Makanjuola     Ejidongari     Toyosi Thomas     Abdulganiyu Salahudeen     Dauda Adeniran Adeshola     Obasanjo     Funmilayo Zubair