Ogun State’s Internally Generated Revenue (IGR) has increased from N78.17billion in 2021 to N119.83billion in 2022, a report has shown.
A 2023 report by the BudgIT on the state by state IGR growth showed that Ogun’s revenue grew by 53.29 percent between 2021 and 2022.
According to the report, Ogun beats other states to emerge as Nigeria’s most improved state on Index A1 with an index point of 0.53, closely followed by Kaduna (0.47), Bauchi (0.41) and Rivers (0.36) in the latest ranking.
Reacting to the development, the state government indicated that reducing its dependency on federal allocations has been a major goal of Governor Dapo Abiodun since taking over the mantle of leadership in the state on May 29, 2019.
The Commissioner for Finance, Dapo Okubadejo, said the Abiodun government has made conscious effort to increase the state’s revenue profile in the last three years by wooing local and foreign investors, enhancing the ease of doing business and facilitating the rapid industrialization of the state to boost job creation and widen the tax net, among other strategies.
In February this year, Okubadejo said that the state had resolved to adopt a more seamless approach to revenue generation, adding that the Ministry of Finance and the state Internal Revenue Service (OGIRS) would further synergise as well as engage stakeholders in achieving better service delivery.
The move, he had said, became necessary in view of the immense developmental projects being implemented across the state, adding that it was essential to continually work to expand the state’s revenue base to pave the way for more people-oriented projects.
Okubadejo said that the state government was committed to providing incentives, empowering its workforce, and creating an enabling working environment for workers, advising them not to rest on their oars.