Business

Seyi Makinde says Oyo State recorded 26% increased IGR without raising taxes

Published

3 years ago

2020/11/17

NewsWireNGR

Oyo state Governor, Seyi Makinde has announced a 26.4 percent increase in its internally generated revenue for 2020.

The state said it achieved this without imposing new taxes.

Seyi Makinde announced through his official twitter handle on Monday,

“The Nigerian Bureau of Statistics (NBS) H1 2020 report shows that our IGR grew by 26.4% even amidst this pandemic. We did this without increasing the tax burden on our citizens. What we have done so far is to focus on our competitive advantage.” – Gov. Seyi Makinde tweeted

"The Nigerian Bureau of Statistics (NBS) H1 2020 report shows that our IGR grew by 26.4% even amidst this pandemic. We did this without increasing the tax burden on our citizens. What we have done so far is to focus on our competitive advantage." – Gov. Seyi Makinde pic.twitter.com/QQgUZ4E7p5
— G.S.M Media (@MakindeMedia) November 16, 2020

The state in 2019 recorded an IGR of ?14.06 billion and in 2020, it recorded ?17.77 billion [+26.4%].

HALF-YEAR IGR – Oyo State Edition

2016: ?7.83 billion

2017: ?10.82 billion [+38.2%]

2018: ?12.38 billion [+18.6%]

2019: ?14.06 billion [+14.6%]

2020: ?17.77 billion [+26.4%]#StatiSense
(NBS)
— StatiSense (@StatiSense) November 16, 2020

Meanwhile, states in Nigeria including the Federal Capital Territory (FCT) generated a sum of N612.87 billion as Internally Generated Revenue (IGR) between January and June 2020. This was disclosed in the States IGR report recently released by the National Bureau of Statistics (NBS). Oyo State generated N17.77 billion in the same period.