Ogun targets N7bn IGR monthly
The Ogun State Government said on Wednesday that it’s targeting N7 billion monthly Internally Generated Revenue (IGR) from the present N4billion.
Stating this was the state Commissioner for Finance, Mrs Kemi Adeosun, at the end of the 2014 ministerial press briefing held at the Governor’s Office, Oke-Mosan, Abeokuta, that the target would be realisable because of increased in number of individual tax payers.
She also identified increased in compliance with the residency rule between the state and Lagos State as one of the factors that would geared up the IGR.
Adeosun flanked by her counterpart in the Budget and Planning, Mrs Oluwande Muoyo, at the joint press conference, also said that the state bank debts had risen marginally to N37.9 billion.
The finance commissioner lamented the dwindling in the monthly Federal Allocation which had strained the finances of the state.
“As part of our economic strategy to grow the economy of Ogun State, we have continued to witness the benefits of our investments in infrastructure, security, education, among others with an increased level of business activity and employment.
“The expected increase in the size of Ogun State’s economy and improved willingness to pay tax has resulted in a continued increase in our IGR. From a monthly average of N2.7billion in 2013, we have an average of N4.0billion in January to March 2014, an increase of over 40 per cent.
“Indeed, in the month of March 2014, a milestone was crossed when our Internally Generated Revenue of N4.6 billion exceeded our federal allocation of N4.11 billion,”Adeosun added.
Commenting on the performance of the 2014 budget, Muoyo, said this was evident in the various road projects, free education, new schools, renovated schools, health facilities, mass transit buses and taxis, markets and low interest loans to farmers.
Muoyo added that the government had continued to execute projects aimed at facilitating the Millennium Development Goals by the country.
“In this connection, the local government scale-up projects for construction/renovation of primary health centres, supply of drugs, installation of solar power boreholes and hand pumps, construction/renovation of some classrooms and provision of furniture for schools have been completed in Yewa North, Ikenne and Odeda local government areas,” she said.
Source: Nigerian Tribune
