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Seyi Makinde, the Governor of Oyo State, has disclosed that the State’s Internally Generated Revenue has risen to N15 billion since 2019, without raising taxes.
The Governor disclosed this on Sunday, in a statement issued by his Chief Press Secretary, Mr Taiwo Adisa, at the 41st Omo Aj’orosun Day Celebration, in Ibadan.
Makinde added that the importance of the Alternative Project Funding Approach (APFA) had enabled Oyo State to close its infrastructure deficit, “while also helping to expand the economy and increase the IGR.”
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He added that the State was able to raise its IGR to N15 billion in 2 years of his administration by bringing more residents into the State’s tax net.
What you should know
According to the National Bureau of Statistics (NBS), 36 states and the Federal Capital Territory generated a sum of N1.31 trillion as Internally generated revenue (IGR) in 2020, with Oyo State growing its IGR by 42.23%.
The headline should be ‘….IGR rose by 15 billion’ and not ‘….IGR rose to 15 billion’. Please check your facts right.
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