Shareholders of Fidelity Bank Plc are in for greater returns in 2019 financial year with the lender’s sustained investment in digital innovations that would engender enhanced customer service delivery and open fresh streams of revenue.
Indications to this effect were given in Lagos, Friday by the Fidelity Bank CEO, Mr. Nnamdi Okonkwo during the Bank’s 31th Annual General Meeting (AGM) where the audited financial report for the year ended December 31, 2018, was presented to shareholders.
According to Okonkwo, the bank will not relent on efforts to increase the adoption rates and migration of customers to its digital banking platform. “We are investing heavily in digital technologies to drive our retail strategy, reduce cost and consequently improve revenue and returns for our shareholders” he stated.
With 25 percent of the bank’s fee-based income coming from digital banking, the Fidelity boss disclosed that the lender is introducing a digital lending solution and AI-Chatbots to spur further growth in the industry verticals, where it currently operates.
On the overall outlook of the bank, Okonkwo said Fidelity Bank was on track towards breaking in to the league of Tier 1 bank by 2022. “The 2018 financial year marked the beginning of the second phase of the growth aspirations of your Bank and I am happy, we closed the year impressively”, he stated.
Gross earnings in FY2018 increased by 4.8 percent to close at N188.9 billion driven primarily by 22.7 percent growth in earning assets. Total deposit, increased by 26.3 percent to N979.4 billion from N775.3 billion, just as current and domiciliary accounts grew in double digit
In other indices Profit Before Tax soared by 30.6% to N25.1BN, when compared with the 19.2BN it recorded in 2017. Similarly Profit After Tax (PAT) increased by 29.0 percent to N22.9 billion from N17.8 billion in 2017.
Shareholders commended management and staff for growing the fortunes of the bank in the last financial year. They made a plea for better returns in 2019 and unanimously approved the proposed dividend of N3.19 billion, which translates to 11kobo per ordinary share of 50k held by investors at the close of business on April 12, 2019.
Chairman, Association for the Advancement of the Rights of Nigerian Shareholders, Dr. Farouk Umar who lauded the bank for its consistent dividend payout, charged Management to continue to record better financial performances.
Mr. Timothy Adesiyan, President, Nigeria Shareholders Solidarity Association (NSAN) extolled the bank for its impressive showing in digital banking. “Digital banking has shown us increased profitability and progress. Kudos to Fidelity Bank he said.
Whilst commending the management of Fidelity Bank for its participation in the Bank of Industry (BOI) Traders Moni Scheme, he said “we are quite appreciative that the cost of risk has reduced considerably in the bank from 1.5 percent in 2017 to 0.5 percent”.
Speaking during the meeting, Chairman, Board of Directors, Mr. Ernest Ebi assured shareholders that the Board will continue to provide the right leadership at Board level, with focus on governance, risk management and capital preservation. “Every action and everything we have done thus far have been around these areas. The fundamentals are very strong we intend to keep things that way” he said.

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Abdulaziz Yari, Zamfara State governor, who also doubles as the chairman of the Nigerian Governors’ Forum, has warned that Nigeria may head for another economic recession due to the decline in oil price.
Yari projected that the vital oil industry maybe hit by another weaker global prices, which has fallen from highs of about $112 a barrel in 2014 to below $75 at the moment.
Yari, while speaking at the opening ceremony of an induction programme for newly-elected and returning governors in Abuja, said “this scenario is a wake-up call for all of you to come amply prepared to face these kinds of challenges.”
“We are expecting the possibility of another cycle of recession by mid-2020 and which may last up to third quarter of 2021,” he added.
Similar thoughts was also shared by the monetary policy committee of the Central Bank of Nigeria in December 2018.
Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, said the economy had started showing signs of weakness.
According to Emefiele, the slowdown emanated from the oil sector, with strong linkages to employment and growth.
Yari, therefore, advised that governors to “look inward by boosting your revenue generation base” and also use the revenue judiciously.
The Zamfara State governor said the outgoing governors have agreed that borrowing is not a good means of solving economic problems.
He urged the incoming governors to multiply revenue generation base so as to “change the course of doing government business for the betterment of the people”.
Nigeria’s economy exited recession in 2017 after suffering contraction for five consecutive quarters.
Critics say government policies made a bad situation even worse. The decision to delay devaluing Nigeria’s currency meant many businesses struggled to get foreign currency to pay for imports, which had a worse effect on the entire economy.
The slump in global oil prices hit Nigeria hard with the government getting about 70% of its revenues from oil sales.

Adeladan Akinkunmi oluwaseun

Audu Ogbeh, Nigeria’s Minister of Agriculture has disclosed to the Senate committee on
Agriculture yesterday, March 27th that some Nigerians import everything including pizza
from London.
He made this known while making his presentation to the lawmakers, he said:
“Do you know, sir, that there are Nigerians who use their cellphones to import pizza from
London; they buy in London and bring it on British Airways in the morning to pick up at the
airport. It is a very annoying situation and we have to move a lot faster in cutting down
some of these things.” he told the lawmakers
Speaking further, the Minister said
”Nigeria is a nation of importers”, adding: “Toothpick every year costs us 18 million
dollars; tomato paste costs us 400 million dollars. Meanwhile, a basket of tomatoes is
less than N2,000. The farmers are losing money because the processors do not have
enough funds to set up factories. Two factories have started off. I am sure by the end of
next year we can comfortably tell the importers of tomato paste to stop

.{Abdurrasheed Gambo}

The Academic Staff Union of Universities (ASUU) on Tuesday slammed the Federal Government and Aisha Buhari, over the proposed plan to establish a private university to be named after President Muhammadu Buhari.ASUU who slammed Aisha Buhari, further described the proposed university by the wife of President Buhari as a disaster.
According to the union, the plan of the wife of the President to establish a new university confirmed why her Husband continued to reduce budgetary allocation to education since he assumed office in 2015.Chairman of the union, University of Ibadan chapter, Professor Deji Omole and a former National Treasurer of the Union, Professor Ademola Aremu who spoke in separate interviews with newsmen in Ibadan, all berated the First Lady over the proposed move.
Omole said: “When I heard about the proposed private university to be named after Mr President, I just looked at it as a joke taken too far. If we have a president in a country that has simply refused to fund public education and all we get from the first family is to establish a private university in collaboration with some foreigners, it is a disaster for this country and for a sitting president.“The implication is that Nigerians should know that this leadership does not believe in public funded education”.

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157 children from Nigeria, Burkina Faso, Benin, Togo are among the 220 human trafficking victims rescued in an operation coordinated by INTERPOL. Just after 157 children from Nigeria and other African countries were rescued by INTERPOL, it was gathered that a number of human trafficking victims were forced into prostitution. Ongoing investigation has led to the arrest of 47 people, as vehicles, cash, mobile phones and computers were also recovered.
The statement read in part;
Forced labour and exploitation:Evidence in the region shows that victims of trafficking are recruited and trafficked using deception and coercion, and held in bondage in various labour intensive activities.Many of the 157 rescued minors were moved around as ‘merchandise’ themselves across the border, and made to work in markets all day, peddling goods, fetching water, cooking, carrying heavy loads, or working as housemaids. Some were the victims of sexual exploitation.The children were aged between 11 and 16, with the youngest rescued at the land border between Benin and Nigeria. There, police found a boy who had been forced to carry clandestinely between the two countries heavy goods such as bags of rice weighing up to 40 kg.All the victims originated from Benin, Burkina Faso, Niger, Nigeria and Togo.
“Human trafficking is a transnational crime from which the vulnerable, especially children, simply cannot walk away.” said Jürgen Stock, INTERPOL Secretary General“This operation underlines the need for cross-border collaboration between law enforcement and all stakeholders to ensure that together we can enhance our prevention, protection and prosecution efforts,” added the INTERPOL Chief.

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Trump rejects UN arms trade treaty Obama signed

U.S. President, Donald Trump on Friday rejected a UN arms trade treaty approved by his predecessor Barack Obama and is currently waiting in the Senate for ratification.
The UN will soon receive a formal notice that America is rejecting this treaty,” Dpa quoted Trump as saying while addressing the National Rifle Association (NRA).

On stage in Indianapolis, Trump then signed a formal message to the Senate asking lawmakers to “discontinue the treaty ratification process.”And to return the now rejected treaty right back to me in the Oval Office, where I will dispose of it,” he said to applause.

Trump signed the letter and then threw the pen to the crowd, which was chanting “U-S-A.”

“We are reaffirming that American liberty is sacred and that American citizens live by American laws, not the laws of foreign countries,” said Trump.

Trump also used his speech to hail states that have allowed trained teachers to carry guns in the classroom “to protect themselves and their students who they love”. Ofunne glory owete

ALIKO DANGOTE HAS WITHDRAWN $10 MILLION Africa’s richest man, Aliko Dangote has revealed that he once withdrew $10 million just to
look at it and convince himself that he is rich.
He stated this while speaking at the Mo Ibrahim governance weekend ongoing in Abidjan,
saying that he knew he was rich on paper, but had to convince himself that he was indeed
rich.
So he drove to a bank, withdrew $10 million, took it home, put it on his bed, looked at it,
and returned it back to the bank the following day.
“The way it is that when you first start business, your target is to make your first million.
Fine, I did that,” Dangote told Mo Ibrahim.
“After a year or so, I realised that I had much more, and I said ok, fine, all these numbers
are just written numbers.
“One day I went to a bank, and at that time, there were no restrictions, and I wrote a
cheque and cashed $10m from the bank and put it in the boot of my vehicle, and I went
home and I opened it and I looked at $10m and I said ‘now I believe I have money.

/Abdurrasheed Gambo

The Federal Government of Nigeria, Nigerian National Petroleum Corporation (NNPC), and industry players in the Nigerian Gas sector has made a substantial commitment to increase the domestic gas supply across the country.
In a statement made known to Oil and Gas Republic at the Nigeria Gas Association Business Forum 2019 recently held in Lagos, NNPC alongside with the Ministry of Petroleum Resources has established some key initiatives to make gas production, distribution and utilization attainable in the country. Part of the initiatives include; the Seven Critical Gas Development Projects signed by NNPC in July 2018 with the aim of closing demand-supply gap in the domestic gas market.
Engr. Emeka Okwuosa, Group CEO, Oilserv Limited, commended the FG government and NNPC on the initiatives set aside to develop the Nigerian gas market, and explaining that the Seven Critical Gas Projects will also bring gas into the market for industries and power plants consumption.
According to him “If we integrate all these and able to provide the right infrastructure then we are getting gas to the market for domestic use. Gas gives us an opportunity to move from a single source of economy like crudeoil into other sectors. It also gives us an opportunity to develop industries across local environment. We have proven reserve of about 199 tcf. Nigeria isn’t just oil producing nation but actually gas more than oil”.
He further explained that with these initiatives, it would go beyond providing more than 2500 jobs during the process of construction and it is also a means of diversifying the nation’s economy.
He highlighted the economic impacts his company, Oilserv, has contributed in western Nigeria. Since 1995 Oilserv has been building oil and gas pipeline facilities. In year 2000, the company concentrated on gas development in Nigeria. Oilserv spearheaded the collaboration of NNPC and gaslinks ensuring gas distribution to places like Ilupeju from Amuwo Odofin network in Lagos state. Oilserv built from phase 1 to phase 4.
“As we speak, we have gas at Ilupeju and we also have gas all the way from Amuwo Odofin. Also, we have brought in gas into Marina and Victoria Island. It goes into making sure that gas is available for industries and power plants,” he added.

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Sir Temple Ogueri Onyeukwu is a chieftain of the All Progressives Congress (APC) and former House of Representatives candidate for the Mbaitoli/Ikeduru Federal Constituency in Imo State. Onyeukwu, the National Leader, Turning Point Youth Empowerment Initiative, spoke to EJIKEME OMENAZU on the possibility of Asiwaju Bola Tinubu contesting the 2013 Presidency, among other issues.
As an All Progressives Congress (APC) chieftain, what is your take on the on-going argument over a possible Asiwaju Bola Tinubu Presidency come 2023?
Sincerely speaking, that will be one the upsets of this political dispensation. If it real, it appears to me that Vice President Yemi Osinbajo may be asked to resign. In other words, Vice President Osibanjo may be sacrificed to pave way for the appointment of the Jagaban, Asiwaju Bola Ahmed Tinubu, as the Vice President after the inauguration on May 29, 2019. This may appear the best way to compensate Asiwaju Tinubu for his role in enthroning the APC Federal Government for two consecutive terms. This, I suspect, may be the only way to avoid the backlash of a Moslem/Moslem ticket that would have caused the APC the last presidential election. Osibanjo’s possible resignation is also to serve as on the job training for Asiwaju, preparing him for the 2023 presidential election which he intends to contest, God sparing our lives. Will Osinbajo be sacrificed to accommodate Tinubu’s ambition?
How feasible do you think is the Tinubu presidency?
In politics everything is possible. But, how possible this can be depends on President Muhammadu Buhari and Tinubu himself. Will North also accept a South West or Southern Presidency? But, I know that Osinbajo cannot be on Asiwaju’s way. If he is told to resign today to make way for Asiwaju, he has no option but to obey. But, only time will tell.
There is a controversy over the continued payment of fuel subsidy by the President Muhammadu Buhari administration. What is your take on this?
The business of government is good governance. Essentially, the security and welfare of the citizens is uppermost. The genesis of the fuel subsidy is the unjustifiable and inequitable economic decisions successive governments have continued to hinge on. Even most of the fuel imported into the country finds its way to neighouring countries, where they are sold at real market prizes. Nigeria is a capitalist society and for the government to free resources to meet urgent national needs, the concept of subsidy must be reviewed. Recently, the Nigerian labour movement demanded and got the national minimum wage reviewed upwards.
One lasting legacy this administration will bequeath to this nation is to abolish fuel subsidy and allow market forces to prevail in economic decisions. The issue of fuel subsidy is bedeviled with quantum corruption. If you want to fight corruption and reduce it to the barest minimum, then remove fuel subsidy. There is no reason why fuel should cost the same in Lagos, Owerri and Maiduguri. I also align myself with those that argue that the cost of governance must be reduced. This will attract genuine patriots into politics with the sole purpose of coming to serve and not to loot.
There are over 12 former state governors now in the Senate. Would you say that this development is healthy for Nigeria’s political development?
Currently, Abia State has two former governors and one former deputy governor as senators. When one finishes his tenure as an elected state governor, it appears to me the best place for him is the State House of Assembly as an automatic member for life. He will be a non-voting member, but will bring his experience to bear in initiating and passing such bills that will facilitate the development of the state. Also, an elected President who has finished his tenure should have an automatic seat in the Senate to guide in initiating and passing such laws that will help in the development of the country. Again members of the National or State Assembly should not spend more than two tenures of six years each. This revolution will tend to attract fresh brains and fresh ideas to the legislature. Our major problem is copying the law in other climes hook line and sinker without considering our peculiar environmental dictates, culture, tradition and inclinations. Some will argue that we should let these evolve but the process must be tailored to our desires and deserved destination. To allow the process without guide is to invite anarchy, chaos, and confusion which seem to be the order of the day.
With the recent killing of citizens by gun totting policemen, what is your take on law enforcement in Nigeria?
Nigerians have the habit of flagrantly violating the laws of the land, rules and regulations that govern the decent and smooth running of the society. We have become addicted to this habit because of the lacuna in the enforcement of the laws by the law enforcement agents, especially the police. The police needs to have a complete attitudinal reorientation, training and retraining in law enforcement and adequately remunerated and motivated. The culture of ‘settlement’ of law enforcement officers for infractions committed by any citizen must stop.
The difference between UK, USA and Nigeria is the level of compliance with law enforcement. Whereas in UK and USA the laws are enforced to the letter with every infraction attracting the appropriate sanction, in Nigeria, the laws are enforced only in the breach. The incompetence, inefficiency, willingness to compromise altitude of the law enforcement agents robs off on the judiciary because most cases are poorly investigated or evidence extracted forcefully from perceived offenders, thereby making it very difficult for judges to reach rational judicial decisions in most cases. Where every breach or infraction of the law attracts the appropriate sanction and/or punishment, the orientation of the society will definitely change overtime. Law enforcement is key to every sane society.
What is your view on the present state of Local Governments in the country and the demand for autonomy for them?
Again, the Ninth Senate and House of Representatives must, as a matter of urgency, amend the constitution to guarantee all local government areas autonomy or scrap them. It does not make any sense that people have local governments, which are supposed to be closest to the people. But, when allocations come for them, one governor stays in his office, spends the entire money for the local government. It is so bad that the governors do not even pay the local government workers their salaries. It will also be appropriate for the law to empower the Independent National Electoral Commission (INEC) to conduct elections into local government areas perhaps on zonal basis.
Chief Emeka Ihedioha, former Deputy Speaker of the House of Representatives, emerged your state’s governor-elect. If you were Ihedioha, where would you want to concentrate?
I do not need to remind you that outside, Whetheral, Douglas, Orlu, Bank and Okigwe roads, most other roads are virtually impassable and unmotorable. There are communities less than five kilometers off Owerri, with no motorable roads. Take Mbieri for example, it is less than five minutes drive from Owerri, but virtually all the roads are not motorable. Economic development is stagnated. Unemployment is highest in the community. It is simple logic that when there is rural transformation, there will be boom in economic activities, unemployment will reduce, crime rate will reduce and quality of life will be better.
I urge the incoming government to concentrate on rural transformation. All Imolites condemned the ‘China’ roads. I hope the incoming administration will use established road construction companies in the execution of its rural roads projects. Come to think about it, there is no local government in the state that cannot construct five kilometers of road every quarter from their allocations given the cost of construction of one kilometer of road even by the established road construction companies. They can achieve this, have enough money for salaries and other overheads. This is public knowledge. Rural transformation is the key.
Still on Imo State, the state’s Internal Generated Revenue (IGR) is still low. Why do you think it is so?
The administration of taxes in Imo State has been a family affair for sometime now. Consequently, nobody knows how much tax is collectable and collected. However, people can be persuaded to comply. The state must review the multitude of taxes it collects, streamline them, bring in those that have not been captured, avoid double taxation and, above all, become accountable and transparent in dealing with the people. Secondly, the tax net must be widened to bring in those who are not into the tax net. No matter how low the taxes may be at the initial time, the target is to bring in more people in the tax net and encourage compliance. Subsequently, regular reviews will ensure Imo State become less dependent on federal allocations like Lagos State is presently.Sir Temple Ogueri Onyeukwu is a chieftain of the All Progressives Congress (APC) and former House of Representatives candidate for the Mbaitoli/Ikeduru Federal Constituency in Imo State. Onyeukwu, the National Leader, Turning Point Youth Empowerment Initiative, spoke to EJIKEME OMENAZU on the possibility of Asiwaju Bola Tinubu contesting the 2013 Presidency, among other issues.
As an All Progressives Congress (APC) chieftain, what is your take on the on-going argument over a possible Asiwaju Bola Tinubu Presidency come 2023?
Sincerely speaking, that will be one the upsets of this political dispensation. If it real, it appears to me that Vice President Yemi Osinbajo may be asked to resign. In other words, Vice President Osibanjo may be sacrificed to pave way for the appointment of the Jagaban, Asiwaju Bola Ahmed Tinubu, as the Vice President after the inauguration on May 29, 2019. This may appear the best way to compensate Asiwaju Tinubu for his role in enthroning the APC Federal Government for two consecutive terms. This, I suspect, may be the only way to avoid the backlash of a Moslem/Moslem ticket that would have caused the APC the last presidential election. Osibanjo’s possible resignation is also to serve as on the job training for Asiwaju, preparing him for the 2023 presidential election which he intends to contest, God sparing our lives. Will Osinbajo be sacrificed to accommodate Tinubu’s ambition?
How feasible do you think is the Tinubu presidency?
In politics everything is possible. But, how possible this can be depends on President Muhammadu Buhari and Tinubu himself. Will North also accept a South West or Southern Presidency? But, I know that Osinbajo cannot be on Asiwaju’s way. If he is told to resign today to make way for Asiwaju, he has no option but to obey. But, only time will tell.
There is a controversy over the continued payment of fuel subsidy by the President Muhammadu Buhari administration. What is your take on this?
The business of government is good governance. Essentially, the security and welfare of the citizens is uppermost. The genesis of the fuel subsidy is the unjustifiable and inequitable economic decisions successive governments have continued to hinge on. Even most of the fuel imported into the country finds its way to neighouring countries, where they are sold at real market prizes. Nigeria is a capitalist society and for the government to free resources to meet urgent national needs, the concept of subsidy must be reviewed. Recently, the Nigerian labour movement demanded and got the national minimum wage reviewed upwards.
One lasting legacy this administration will bequeath to this nation is to abolish fuel subsidy and allow market forces to prevail in economic decisions. The issue of fuel subsidy is bedeviled with quantum corruption. If you want to fight corruption and reduce it to the barest minimum, then remove fuel subsidy. There is no reason why fuel should cost the same in Lagos, Owerri and Maiduguri. I also align myself with those that argue that the cost of governance must be reduced. This will attract genuine patriots into politics with the sole purpose of coming to serve and not to loot.
There are over 12 former state governors now in the Senate. Would you say that this development is healthy for Nigeria’s political development?
Currently, Abia State has two former governors and one former deputy governor as senators. When one finishes his tenure as an elected state governor, it appears to me the best place for him is the State House of Assembly as an automatic member for life. He will be a non-voting member, but will bring his experience to bear in initiating and passing such bills that will facilitate the development of the state. Also, an elected President who has finished his tenure should have an automatic seat in the Senate to guide in initiating and passing such laws that will help in the development of the country. Again members of the National or State Assembly should not spend more than two tenures of six years each. This revolution will tend to attract fresh brains and fresh ideas to the legislature. Our major problem is copying the law in other climes hook line and sinker without considering our peculiar environmental dictates, culture, tradition and inclinations. Some will argue that we should let these evolve but the process must be tailored to our desires and deserved destination. To allow the process without guide is to invite anarchy, chaos, and confusion which seem to be the order of the day.
With the recent killing of citizens by gun totting policemen, what is your take on law enforcement in Nigeria?
Nigerians have the habit of flagrantly violating the laws of the land, rules and regulations that govern the decent and smooth running of the society. We have become addicted to this habit because of the lacuna in the enforcement of the laws by the law enforcement agents, especially the police. The police needs to have a complete attitudinal reorientation, training and retraining in law enforcement and adequately remunerated and motivated. The culture of ‘settlement’ of law enforcement officers for infractions committed by any citizen must stop.
The difference between UK, USA and Nigeria is the level of compliance with law enforcement. Whereas in UK and USA the laws are enforced to the letter with every infraction attracting the appropriate sanction, in Nigeria, the laws are enforced only in the breach. The incompetence, inefficiency, willingness to compromise altitude of the law enforcement agents robs off on the judiciary because most cases are poorly investigated or evidence extracted forcefully from perceived offenders, thereby making it very difficult for judges to reach rational judicial decisions in most cases. Where every breach or infraction of the law attracts the appropriate sanction and/or punishment, the orientation of the society will definitely change overtime. Law enforcement is key to every sane society.
What is your view on the present state of Local Governments in the country and the demand for autonomy for them?
Again, the Ninth Senate and House of Representatives must, as a matter of urgency, amend the constitution to guarantee all local government areas autonomy or scrap them. It does not make any sense that people have local governments, which are supposed to be closest to the people. But, when allocations come for them, one governor stays in his office, spends the entire money for the local government. It is so bad that the governors do not even pay the local government workers their salaries. It will also be appropriate for the law to empower the Independent National Electoral Commission (INEC) to conduct elections into local government areas perhaps on zonal basis.
Chief Emeka Ihedioha, former Deputy Speaker of the House of Representatives, emerged your state’s governor-elect. If you were Ihedioha, where would you want to concentrate?
I do not need to remind you that outside, Whetheral, Douglas, Orlu, Bank and Okigwe roads, most other roads are virtually impassable and unmotorable. There are communities less than five kilometers off Owerri, with no motorable roads. Take Mbieri for example, it is less than five minutes drive from Owerri, but virtually all the roads are not motorable. Economic development is stagnated. Unemployment is highest in the community. It is simple logic that when there is rural transformation, there will be boom in economic activities, unemployment will reduce, crime rate will reduce and quality of life will be better.
I urge the incoming government to concentrate on rural transformation. All Imolites condemned the ‘China’ roads. I hope the incoming administration will use established road construction companies in the execution of its rural roads projects. Come to think about it, there is no local government in the state that cannot construct five kilometers of road every quarter from their allocations given the cost of construction of one kilometer of road even by the established road construction companies. They can achieve this, have enough money for salaries and other overheads. This is public knowledge. Rural transformation is the key.
Still on Imo State, the state’s Internal Generated Revenue (IGR) is still low. Why do you think it is so?
The administration of taxes in Imo State has been a family affair for sometime now. Consequently, nobody knows how much tax is collectable and collected. However, people can be persuaded to comply. The state must review the multitude of taxes it collects, streamline them, bring in those that have not been captured, avoid double taxation and, above all, become accountable and transparent in dealing with the people. Secondly, the tax net must be widened to bring in those who are not into the tax net. No matter how low the taxes may be at the initial time, the target is to bring in more people in the tax net and encourage compliance. Subsequently, regular reviews will ensure Imo State become less dependent on federal allocations like Lagos State is presently.

Adeladan Akinkunmi oluwaseun