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The Kano State Government has announced plans to generate more revenue by implementing a stronger tax reform policy, targeting at least N80 billion annually.
In the same vein, the administration of Abba Kabir Yusuf has prepared to prosecute tax defaulters in 2025 as part of comprehensive reforms in tax administration.
According to Sanusi Bature Dawakin Tofa, the Director General of Media and Publicity at Government House, Kano, the reform was disclosed during a presentation by Dr Zaid Abubakar, the Executive Chairman of the Kano State Internal Revenue Service, KIRS, at a high-level retreat for senior government officials on Saturday.
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Dr Abubakar emphasised that the reforms would not introduce new taxes but would focus on improving the existing system’s efficiency.
The state has projected to generate over N20 billion quarterly, amounting to more than N80 billion in 2025, by adopting innovative approaches to tax collection.
He added that Governor Yusuf’s earlier decision to restructure the revenue agency by appointing a new management team in 2024 has already led to improved performance in the latter half of the year.
Additionally, the administration plans to introduce a new tax collection model in 2025 to further enhance compliance and transparency.
This significant revenue boost will enable the government to implement critical developmental programmes across various sectors, fulfilling its campaign promises to the people of Kano State.
In other news, the naira depreciated against the dollar at both the official and parallel foreign exchange markets, ending the week on a negative note.
FMDQ data showed that the naira weakened slightly to N1,541.68 per dollar on Friday, down from N1,541.38 exchanged on Thursday, losing N0.3.
At the parallel market, the naira closed at N1,775 per dollar on Friday, up from N1,768 exchanged on Thursday.
The Eastern Updates reports that, during the week under review, the naira appreciated more than it depreciated.