Emmanuel Nnamani, Chairman, Enugu State Internal Revenue Service, says the state is generating revenue from optimization of assets.
Nnamani said this in an interview with ARISE NEWS on Monday.
He said, “the state has actually recorded a revenue of N406.77B in the year 2025. This revenue, like I said, is made up of 87% contribution from non-tax revenue, while we have approximately 30% contribution from tax revenue. Most of where the state is making their money is in the optimization of their assets.-”
He further highlighted assets where the state is making its revenue from:
“Some assets we inherited are being optimized for value for the state. And again, the investments we’re attracting from within and outside the country; some of these investments have given us massive revenue in billions of naira. Government has also lifted its efforts in terms of building some reliable and sustainable assets. And these assets are also being optimized in terms of lease, and there’s a lot of money we’re getting from there.”
He added: “The International Conference Center is also another source of revenue. The iconic Presidential Hotel that was rebranded, refurbished, is also giving us a source of revenue. The International Conference Hotel is also where we’re making a whole lot of money. Then the Niger Gas that has been put to use under management scheme. These are where the state is making a whole lot of money. The Sunrise Flour Mill, the revamping of that asset, the Lion Business Park asset, these are where we are making money from, it’s not just tax.
“Also, we are optimizing our tax revenue by growing it up to 72% in 2025. Also, bringing every of the revenue agency in the state into one box. Technology has also helped us. Again, having a common revenue market in the state is giving us a lot of revenue.”
Speaking further on how the Enugu state government optimizes its assets to pull in revenue, Nnamani said:
“In the non-tax revenue, the contributors are assets optimization. We also optimized some of our land assets in the state, the ones that belong to government.
“Government has done a lot of land banking, where communities donate lands to the government, and the government will invest a lot of billions of naira to make this land ready for immediate utilization. On some, we build houses, some, we put massive infrastructure, road networks, electricity, water, and when it’s ready, we optimize the value coming from there.
“In Enugu, all our properties and assets are being optimized at market value. We have to get market value for our assets so that we will use it to build more infrastructure, where the citizens will also benefit,” he explained.
Nnamani also said that the government of Enugu state is putting in a lot of strategy and effort to ensure proper optimization of assets in the state, using New Enugu City plan as an example.
“A lot of strategy is being put in place. The New Enugu City is ranking first in our 2026 plans, where we want to make sure that New Enugu as a city is optimized, planned, made to contribute heavily. What this means is that when this land is being allocated, people are supposed to pay their property taxes in this area, and we’re expanding a lot of revenue through that”, he said.
Citing further ways through which Enugu State Government plans on raking in more revenue from the New Enugu City Plan, Nnamani said:
“We also have industrial people coming into these areas and we will also ensure we have employments for our people. And when these employments come, government get their payee from those areas. We are just trying to make Enugu a new haven for anybody to come and live in.”
Addressing concerns on when these assets become unavailable, Nnamani said that Enugu state intends to build an economy where more tax revenue is raised and sustained.
“The non-tax revenue is heavy now because we have these assets available. But in the near future, these assets will begin to dwindle. What do we do? By then, we must have built an economy where we’re going to raise more tax revenue. We were able to grow the tax revenue last year by 72%, and we’re also hoping to double that figure this year, 2026. So, as we build more assets, the more we collect our tax revenue. This is what we are doing in Enugu”, he said.
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