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We Won’t Over-Burden Our People With Taxes — Fubara Assures at JTB Meeting

Rivers State Governor, Sir Siminalayi Fubara, has reaffirmed his administration’s commitment to maintaining a fair and sustainable tax regime that does not overburden residents and businesses in the State.

Governor Fubara made this declaration while opening the 156th Joint Tax Board (JTB) meeting held in Port Harcourt, with the theme: “Opportunities and Strategies for Improved Taxation of High Net-Worth Individuals in Nigeria.”

Speaking at the event, Governor Fubara emphasized the need for efficient tax revenue collection to strengthen the capacity of state governments to deliver public services and drive development.

He noted that amid Nigeria’s struggling economy, high inflation, and limited federal allocations, maximizing tax revenue across sectors and levels remains a viable solution to address funding gaps.

“Tax is a tool for the government to deploy to advance several positive objectives,” Governor Fubara stated.

“First, it enables the government to collect public revenue to provide essential services. Second, it promotes equity by redistributing resources to benefit the most vulnerable. Without adequate revenues, it becomes difficult for the government to meet its obligations to its citizens.”

The governor highlighted Rivers State’s approach to tax collection, which prioritizes broadening the tax base rather than increasing tax rates.

This strategy, he said, has led to significant growth in internally generated revenue while ensuring that the financial burden on citizens remains manageable.

“Instead of imposing more taxes, we have broadened our tax base without increasing rates, generating higher revenues month after month,” he said.

“These funds are responsibly utilized to fund critical infrastructure like roads, schools, security, and healthcare.”

Governor Fubara cited several projects funded through tax revenue, including the Trans-Kalabari Road, Elele-Egbeda-Omoku dual carriageway, and zonal hospitals in Degema, Bori, Ahoada, and Omoku.

He also mentioned the newly completed Rumuigbo General Hospital and Psychiatric Hospital as evidence of the administration’s commitment to impactful investments.

Acknowledging the role of the JTB, Governor Fubara praised the Board’s efforts in promoting effective tax administration and harmonization across Nigeria.

He urged participants to focus on strategies to enhance the taxation of high net-worth individuals while ensuring the system remains fair and encourages voluntary compliance.

“The purpose of a tax system is not to stifle society but to foster development and prosperity,” Governor Fubara noted.

“It must impose no more than a fair amount, serving the public interest while remaining attractive to businesses and investors.”

Dr. Chibeoso Aholu, Executive Chairman of the Rivers State Internal Revenue Service, expressed gratitude to the Governor for hosting the JTB meeting.

He noted that the gathering presented an opportunity to streamline policies that will strengthen revenue generation across all levels of government.

Governor Fubara concluded by urging the JTB to explore strategies that would inspire high net-worth individuals to pay fair taxes and reinvest their resources into productive ventures that drive economic growth.

The meeting, attended by tax administrators from across the country, underscored Rivers State’s pivotal role in promoting innovative tax policies to ensure sustainable development and prosperity for all.