Oyo govt. makes U-turn, disclaims N2.7billion October IGR figure

Oyo State government has made a U-turn on  the recent report in the media about an improvement of the IGR from N1.3billion to N2.7billion in October . The government also said this was contrary to its  stance.

 

It further reinstated its focus at attaining N4billion monthly internally-generated revenue by the year 2020.

 

The Chairman, Oyo State Internal Revenue Service (OYSIRS), Aremo John Adeleke said this  on Wednesday when newsmen visited his office in Ibadan on updates about the issue.

 

He said the State has set its target a minimum monthly collection of N2billion irrespective of situations that might affect the monthly income despite that it inherited a record of N1.7billion monthly income from its predecessor.

 

“Oyo State Government is determined to engage in a sustained effort to improve its internally generated revenue from a revenue level averaging about N1.7 billion per month at the time of inception of this new government, the present administration in the short-term, has set its target at a minimum monthly collection of ₦2 billion irrespective of the vagaries and gyrations of the various sub-segments of the state revenue component.

 

 

“We want to repeat that the N2billion threshold which is the immediate minimum IGR which we hope for through the Oyo State Internal Revenue Service, continued 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 achieve a band of ₦4 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 ₦4 billion mark in the months to come, this will immediately become another benchmark for higher and stronger IGR performance. We continue to draw appropriate lessons and inferences when our IGR is on the right trajectory in any month. On the other hand we put in measures and constantly revise our strategies in months when we expect to do better.

 

“We refuse statements in the press putting our IGR as #2.7 billion for the month of October and the IGR inherited by this administration as #1.3 billion. Nevertheless, we are not out to celebrate any specific figure of IGR attached to any month until we have achieved progressive and consistently satisfactory revenue over a sustained period.

 

“Running along with our strategies of more effective and leak-proof collection, a well enhanced manpower equipped with the right skills, determination to exploit the richness of our informal sector, embrace of the right IT Solution for improvement of specific areas of collection, conscientious and result-driven leadership in the Board and the Ministry of Finance, the good governance and visionary leadership of our leader, Governor Seyi Makinde, Oyo State is poised to positively increase its IGR collection within the shortest possible time under this government. This is what we are working for. This is what we will achieve.”

 

The State Commissioner for Information, Dr. Wasiu Olatunbosun had earlier hinted that the State was working towards achieving the N4billion monthly IGR benchmark while the State had put in place what it called a strategic revamp of the revenue generation machine to achieve the feat.

 

But, the state government in a statement signed by the same Commissioner for Information, Culture and Tourism, Dr Olatunbosun on Friday (18th  October , 2019 at exactly 10:54 AM said it has set a target of hitting 20 billion naira monthly internally-generated revenue (IGR) before the end of the governor Seyi Makinde’s first term in office.

 

The State’s IGR, as contained in the statement was reported to be between N2billion and N2.5billion during the tenure of the former governor, Abiola Ajimobi.

 

The Commissioner stated this  at a One Day Workshop for the State media officers which held at the Film Theater of the Ministry on Wednesday.