Governor of Edo State, Mr Godwin Obaseki, has said that Internally Generated Revenue (IGR) reforms being implemented by his administration have yielded positive result, as annual collection in local council areas has climbed from N30 million in November 2016 to 150 million in November this year.
The governor said this when he inaugurated the Edo State Council of Traditional Rulers and Chiefs, at the Government House, in Benin City.
Obaseki said that the appreciable rise in revenue collection was as a result of various institutional reforms being implemented in the state, noting that the use of automated systems, such as Point of Sale (POS) machines, tax vouchers, among others, have revolutionised revenue collection in the local councils.
He added that the increased revenue profile has made local councils buoyant and now able not only to meet their statutory obligations, but also contribute to development.
The governor said that the state took a methodological approach in attaining the feat with IGR, as it conducted pilot study in 9 locations in Oredo local council, to operationalise the concept, adding, “When we conducted the study, Oredo LGA used to remit N42,000 a day, but after we introduced electronic devices, that sum climbed to N500,000.”
Assuring that even more revenue is expected in the coming months, he said, “We are opening up Edo State for business and companies are heading down here. It is expected that with increased business activity to be occasioned by our investment drive in the state, more companies will spring up and the revenue profile we see today, will rise even further.”
Obaseki said that the state is now a Mecca for investors, which is why heavyweights in agriculture, Fast Moving Consumer Goods (FMCG) companies, and manufacturers are siting their businesses in the state.
He added, “The State Government is open for business because of our peculiar location as a nexus to different parts of Nigeria. This is why the companies are coming here. The influx of businesses will provide avenues for increased activity, create more jobs and will drive development.”
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