Ogun Generates N40bn Revenue in Q1 2021

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The Ogun State government has generated N40 billion Internally Generated Revenue (IGR) in the first quarter of 2021.

The Chief Economic Adviser and Commissioner for Finance to the state government, Dapo Okubadejo, made this kwown at a pre-investment summit roadshow organised ahead of the state’s investment summit in Abeokuta.

According to him, there are plans by the state government to increase the annual Gross Domestic Product (GDP) from the current single-digit to 25 per cent.

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.”

He disclosed that the investment summit tagged ‘OgunIseya21: Becoming Africa’s Model Industrial and Logistics Hub’, is billed to hold July 13 and 14.

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Okubadejo explained that the state’s IGR had recorded a turnaround after last year’s shortfall caused by the COVID-19 pandemic.

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.”

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