October 18, 2021

TrustTV

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Ogun rakes in N40bn IGR in January-March 2021

The Ogun State Government has said it got N40 billion Internally Generated Revenue (IGR) in the first quarter of 2021.

The government also disclosed its plan to increase the yearly Gross Domestic Product (GDP) rate 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 between the 13th and 14th of July.

Okubadejo, who was flanked by the Commissioner for Industry, Trade and Investment, Mrs Kikelomo Longe, told newsmen that the state’s IGR had 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.

“Our target this year is to exceed all the previous records we have set in IGR.

“That’s why we have put in place, all these transformation initiatives, friendly policies and also facilitate this investment summit to further showcase Ogun State as the preferred industrial destination.”

Speaking on the GDP growth, Okubadejo said the state had put in place policies and reforms to achieve the 25 per cent growth target, using five key goals.

According to him, the five key areas are; real sector growth, job creation, food security, poverty eradication and increased investments.

He added that one of the aims of the summit was to attract investors in agriculture, industry, independent power and transportation.