Ogun Increases IGR, Reduces Dependence on Monthly Federal Allocation

In Ogun State, government is set to increase its annual Internally Generated Revenue (IGR) by at least 30 percent; a development it hopes would help reduce dependence on Federal Allocation by at least 5 percent in the next fiscal year.

 

Commissioner for Budget and Planning Mrs. Yewande Muoyo who made this disclosure while defending her Ministry’s 2014 budget estimates before the State House of Assembly reiterated government’s commitment to the payment of counterpart funding for projects jointly financed with donor agencies for the sustainability of such projects which had impacted positively on the lives of the people.

 

Muoyo said to achieve all these and other projections, the Ministry was proposing to spend the sum of N1.741b, saying that out of this amount, capital expenditure would gulp N1.265 b representing 72.63 percent and the balance of N476m or 27.37 percent would be expended on recurrent matters, while N2.750b was total receipt expected for the period.

 

Mrs. Muoyo said to ensure efficiency; training and retraining of the Ministry’s workforce would be vigorously pursued, while maintenance of existing office items such as motor vehicles, equipment and furniture would be adequately taken care of to enhance service delivery.

 

Still on budget defence, the Ogun State Internal Revenue Service (IRS) has pledged to increase the Internally Generated Revenue of the State in the next fiscal year, promote transparency and accountability in the income and expenditure of government for effective and efficient financial system.

 

The Chairman of IRS, Mr. Babajide Odubanjo made disclosure while defending the next year’s budget of his agency said that the agency planned to generate N28b into government coffers in the next fiscal year.

 

Mr. Odubanjo added that the Board planned to spend a total sum of N1.763b as total budget for the year,out of which N1.263b would be expended on recurrent matters, while the balance of N500m had been earmarked for capital projects.

 

Out of the capital, the Chairman explained that N232 million had been budgeted for the purchase of motor vehicles by the IRS to enhance its operations Statewide, while N55.9 million would be spent on office furniture.