Jos, Nigeria – The Plateau State Government has recorded a groundbreaking achievement in its revenue generation drive, with the Plateau State Board of Internal Revenue Service (PSIRS) announcing an unprecedented ₦31.14 billion in Internally Generated Revenue (IGR) for 2024. This remarkable feat underscores the government’s commitment to financial sustainability and economic growth.
The Chairman of PSIRS, Jim Pam Wayas, made this announcement during a press briefing in Jos, commending the state’s leadership for its strategic policies that have significantly boosted revenue collection. He highlighted that for the first time in Plateau’s history, revenue generation has surpassed the ₦30 billion threshold, marking a substantial increase from previous years.
Steady Revenue Growth Under the Present Administration
Wayas credited this success to the visionary leadership of Governor Caleb Mutfwang and the administration’s transformative approach to revenue collection. He noted that since the administration assumed office in 2023, the state’s IGR has experienced consistent growth.
“When this administration took office in 2023, I joined halfway through the year, and since then, a lot has changed. In 2022, Plateau State generated ₦15.9 billion in revenue. By the end of 2023, we had grown that figure to ₦25.8 billion. Now, as of the close of 2024, we have reached a record ₦31.14 billion,” Wayas stated.
To build on this momentum, the Plateau State Government has set an ambitious revenue target of ₦52 billion for 2025, demonstrating its unwavering commitment to economic advancement.
Impressive Revenue Collection at the Start of 2025
The revenue growth trend has continued into 2025, with January alone witnessing a collection of ₦3.3 billion—one of the highest amounts ever recorded in a single month. This represents a significant improvement compared to January 2024, when the state generated ₦1.6 billion.
“We need to start 2025 on a strong note, and we are on the right path. The figures we recorded in January show that we are making significant progress, and we remain determined to surpass expectations,” Wayas affirmed.
Overcoming Fiscal Challenges Through Innovation
While acknowledging the impact of declining federal allocations, Wayas assured that the government is implementing proactive measures to cushion the effect of financial constraints. He explained that federal deductions due to past debts have reduced the state’s allocation, particularly as fluctuating exchange rates have significantly increased repayment costs.
“Many have asked about the balance between our internally generated revenue and federal allocations. The reality is that federal allocations have declined due to inherited debts, some of which were taken when the exchange rate was around ₦440 to $1. With rates now fluctuating, at times reaching ₦2,000 to $1, the financial implications are immense,” he explained.
Despite these challenges, the state government has remained resolute in ensuring financial stability, prioritizing revenue diversification, and enhancing fiscal policies to drive economic growth.
Expanding Revenue Sources for Sustainable Development
To further strengthen revenue generation, the government is intensifying efforts to explore untapped revenue sources and improve tax collection efficiency. Wayas commended Governor Mutfwang for introducing bold reforms that are reshaping the state’s financial landscape.
“We are undergoing a transformation in our revenue system, identifying new income streams, and closing loopholes. I must commend Governor Mutfwang for his leadership in this regard. His administration is committed to doing things differently to maximize our revenue potential,” he said.
He added that the PSIRS is fostering stronger collaborations with key institutions, including the Joint Tax Board, Tax Appeal Tribunal, and the Federal Inland Revenue Service (FIRS), to ensure seamless revenue collection.
With the ₦52 billion target in sight, the Plateau State Government remains steadfast in its efforts to drive economic growth, enhance infrastructure, and improve the lives of its citizens. This historic revenue milestone is a testament to the administration’s dedication to fiscal responsibility and sustainable development.