Ogun State generates N40bn IGR in Q1; targets 25% GDP growth
The Ogun state government has generated N40 billion Internally Generated Revenue (IGR) in the first quarter of 2021.
The government also plans to increase the yearly Gross Domestic Product (GDP) from the current single-digit to 25 per cent.
The Chief Economic Adviser and Commissioner for Finance, Dapo Okubadejo, disclosed this in Abeokuta during the pre-investment summit roadshow organised ahead of the state’s investment summit.
The summit tagged ‘OgunIseya21: Becoming Africa’s Model Industrial and Logistics Hub’, is billed to hold July 13 and 14.
Okubadejo, who was flanked by the Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, told newsmen that the state’s IGR recorded a turnaround after last year’s shortfall, which he blamed on the COVID-19.
He said, “We had a significant turnaround in the first quarter of this year. In fact, as of April, we have done almost N40bn in internally generated revenue. Our target this year is to exceed all the previous records we have set in IGR.
Okubadejo said the state had put in place policies and reforms to achieve the 25 percent growth target for the GDP, using five “key goals.”
