Emmanuel Nnamani: Enugu State Increases Revenue Through Asset Optimization Beyond Taxation

Emmanuel Nnamani, who heads the Enugu State Internal Revenue Service, has revealed that the state has begun to see substantial income from the optimization of its assets.

Nnamani made these remarks during an interview with ARISE NEWS on Monday.

He stated, "In 2025, the state recorded a revenue of N406.77 billion, of which 87% comes from non-tax revenue, while tax revenue accounts for about 30%. The majority of our earnings stem from the optimization of our state assets."

He elaborated on the various assets contributing to the state's revenue:

"Some inherited assets are now being optimized to provide value. Additionally, investments both domestically and internationally are significantly boosting our revenue figures, amounting to billions of naira. The government has also focused on developing sustainable and reliable assets that generate revenue through leasing, which has brought in considerable income."

He highlighted specific revenue-generating sources, such as:

"The International Conference Center, the recently renovated Presidential Hotel, and the International Conference Hotel are all substantial revenue sources. The management of Niger Gas has also begun yielding profits, alongside the revitalization of the Sunrise Flour Mill and the Lion Business Park. These areas are essential in generating income, extending beyond just traditional taxation."

"We aim to increase our tax revenue, which grew by 72% in 2025, by consolidating all revenue agencies in the state and leveraging technology. Moreover, a unified revenue market is providing a considerable financial boost," he added.

When discussing how the Enugu state government enhances its asset optimization for revenue generation, Nnamani remarked:

"Non-tax revenues chiefly come from optimized assets. We have also improved some government-owned land assets. The government engages in land banking, where communities donate land to support government projects. We invest significantly to prepare these lands, whether for housing developments or infrastructure like road networks, electricity, and water supply, making them ready for value optimization."

"In Enugu, we ensure that all government properties and assets are valued accurately. This market value is crucial as it enables us to invest in further infrastructure that benefits our citizens," he explained.

Nnamani noted that there are strategic efforts in place to optimize assets within the New Enugu City initiative, which is central to the state’s revenue plans.

"Strategic planning is underway to ensure that the New Enugu City contributes significantly to our revenue. When land allocations occur, property taxes are expected, thus increasing our revenue flow," he indicated.

Further outlining how the government intends to enhance revenue through the New Enugu City project, Nnamani stated:

"We anticipate having more industries setting up in these regions, leading to job creation. With these job opportunities, the government will collect PAYE taxes, as we aim to transform Enugu into a prime destination for new residents."

Regarding concerns about future asset availability, Nnamani emphasized the need for establishing a sustainable economy reliant on increased tax revenue.

"While our current non-tax revenue is robust due to these assets, they may diminish in the future. Therefore, we are working to develop an economy that will generate more substantial tax revenues. Last year's tax revenue grew by 72%, and we hope to double that this year in 2026. Our strategy is to continue building assets, which in turn will allow us to bolster our tax revenue, and that’s our approach in Enugu," he concluded.