Edo State don record a massive 370 per cent growth in Internally Generated Revenue (IGR) for the past eight years, according to the state government. The Chairman of the Edo State Taskforce on IGR, John Inegbedion, reveal dis information during the Q3 2024 EIRS Quarterly Performance Review meeting held at the Sunny Okundia Training School in Benin City.
Inegbedion explain say the revenue growth be driven by the strategic reforms in revenue administration wey Governor Godwin Obaseki’s administration introduce. Since Obaseki take office in 2016, the state’s revenue collection process don transform significantly.
In 2016, when Obaseki first take office, IGR collection stand at N23.64 billion. But with the government’s reforms, the state continue to witness consistent growth in its revenue. For the third quarter of 2024, the state hit N67.29 billion, surpassing the year-to-date budgeted IGR of N55.64 billion.
Inegbedion add say with a monthly average of N7 billion, the state is projected to close the 2024 IGR collection year with N85 billion and is expected to hit N120 billion in 2025. He also mention that the economic policies and investment drive of Governor Obaseki have significantly impacted the economic growth and prosperity of Edo State.
The deployment of technology in EIRS has also improved the revenue collections, assessment, transparency, and accountability of the Service. As of 2023, Edo State rank as the 5th state in the country in terms of IGR performance, just below Lagos, Rivers, Ogun, and Delta States.
