Business & Finance

Oyo govt targets N4bn IGR by 2020

The Oyo state government says its focus at attaining N4billion monthly internally-generated revenue by Decmber 2020 is on course.

This is accirding to a statement by the State Ministry of Information, Culture and Tourism, which quoted Mr John Adeleke, the Chairman, Oyo State Internal Revenue Service (OYSIRS), as saying that Oyo state has set its target of a minimum collection of N2 billion IGR monthly.

Adeleke explained that the state government was determined to sustain effort to improve its internally generated revenue from a revenue level averaging about ?1.7 billion per month at the time of inception of the new government.

The present administration in the short-term, has set its target at a minimum monthly collection of N2 billion irrespective of the vagaries and gyrations of the various sub-segments of the state revenue component.

We want to repeat that the N2 billion threshold which is the immediate minimum IGR which we hope for through the Oyo State Internal Revenue Service, will continue to be attainable, every month.

We will continue to work for increases beyond the threshold until the goal of doubling the IGR of the state to N4 billion is attained by December 2020.

At this point, the state will not indulge in any random celebration of any particular month’s IGR figure because our best is yet to come.

Even when we cross the N4 billion in the months to come, this will immediately become another benchmark for higher and stronger IGR performance.

We refute statements in the press putting our IGR at N2.7 billion for the month of October and the IGR inherited by this administration as N1.3 billion, he added.

Source: Voice of Nigeria