Enugu State Governor, Dr. Peter Mbah, has announced a remarkable increase in the state’s Internally Generated Revenue (IGR), which has grown from N30 billion annually to N500 billion—an unprecedented 1,000% surge.
He attributed this success to strategic economic policies and financial inclusion initiatives.
Speaking at the Presidential Villa, Abuja, on Monday during the inauguration of the Presidential Committee on Economic and Financial Inclusion by Vice President Kashim Shettima, Mbah emphasized the importance of targeted programs that uplift vulnerable citizens.
He maintained that economic growth should not come at the cost of social welfare.
“Economic and financial inclusion are crucial to growth and shared prosperity. A nation is only as strong as its most vulnerable citizens. We cannot pursue economic development while neglecting the disadvantaged.
“Our policies must ensure that the weakest members of society are not left behind,” Mbah stated.
He urged financial industry leaders to create innovative products that extend banking and financial services to underserved communities.
According to him, bridging the digital divide is essential for fostering a more inclusive economy.
Mbah highlighted that Enugu State’s revenue transformation was not a result of increased taxation but rather financial inclusion strategies.
“As a governor, I am often asked how we achieved a 1,000 per cent revenue increase, from N30bn to over N500bn. The answer is simple: we prioritised financial inclusion. Our administration did not raise tax rates. Instead, we expanded the tax net by ensuring that more people participated in the financial system,” he explained.
He further underscored that sustainable economic growth requires meticulous planning and well-structured policies rather than mere optimism.
“The growth we seek will not come from wishful thinking. It will be the result of carefully designed policies and programmes,” Mbah said.
Expressing appreciation for his inclusion in the Presidential Committee, he described it as a call to national service and pledged his commitment to its objectives.
“I consider this an opportunity to contribute meaningfully to our country’s economic future. I pledge my utmost dedication to this noble initiative,” he concluded.
The Presidential Committee on Economic and Financial Inclusion was established to develop policies that enhance financial access, especially for underserved communities.
