Plateau State, located in north-central Nigeria, has reached a historic internally generated revenue (IGR) of ₦31.14 billion for 2024, surpassing the ₦30 billion mark for the first time in its history. This achievement was announced by Mr. Jim Wayas, the Executive Chairman of the Plateau Internal Revenue Service (PIRS), during a press briefing in Jos, the state capital.
Wayas highlighted that the state’s revenue has shown consistent growth over recent years, driven by improvements in tax administration and economic activities. The state generated ₦15.9 billion in 2022, which grew to ₦25.8 billion by the end of 2023. For 2024, the state’s revenue exceeded ₦31 billion, a remarkable milestone.
However, Wayas pointed out that despite this growth, federal allocations to Plateau have been on the decline due to outstanding debts from previous years, many of which were foreign-currency denominated. The adverse impact of the current exchange rate, which at times is as high as ₦2,000 to $1, has negatively affected the state’s subsidy allocation, with the past six months reflecting negative figures.
In response, the state government is focusing on exploring new sources of internal revenue. Wayas commended Governor Caleb Mutfwang for supporting reforms aimed at transforming the state’s revenue system, including a push to tap into the mining sector. Despite significant mineral extraction, Plateau has been losing out on substantial revenue, with financial reports indicating that the state misses between $5 million and $15 million in monthly capital inflow. The state only receives about ₦300 million in royalties, though mining activities are currently suspended due to security concerns and revenue leakage.
Additionally, tax evasion remains a concern, especially among high-net-worth individuals who pay taxes in other states, such as Oyo, despite living and operating in Plateau. Wayas emphasized the need for stricter enforcement of property tax collection and land use charges, noting that the state is working with agencies like the Federal Inland Revenue Service (FIRS) and the Nigerian Financial Intelligence Unit to improve tax compliance through data-driven assessments.
Looking ahead, the Plateau State Government aims to generate ₦52 billion in revenue for 2025. In January 2025 alone, the state achieved ₦3.3 billion in revenue, marking one of the highest monthly collections recorded, compared to ₦1.6 billion in January 2024. Wayas assured stakeholders that the government remains committed to creating a business-friendly environment and will continue to work closely with residents to ensure tax compliance.
