Osun State Government says it realised over N13 billion as consolidated Internally Generated Revenue (IGR) and other revenue receipts in 2017.
Mr Yemi Ijidele, the state’s Project Coordinator and State and Local Governance Reform (SLOGOR), disclosed this to newsmen at a three-day SLOGOR Retreat in Enugu on Friday.
Ijidele said that the state had increased the number of its tax payers from below 200,000 to 470,801 tax payers at present.
The coordinator noted that more people in the informal sectors had been captured in the tax drag-net of the state.
He said that the feat was achieved by several financial and management streamlining interventions driven by the state government and SLOGOR programme.
He noted that the present administration in Osun had domesticated and internalised the Ease of Doing Business (EODB) initiative of the Federal Government in the state.
He added that this had created more enabling environment for businesses, especially cottage businesses, to strive in the state.
“We have continued to have increase in consolidated revenue for the state each passing year and in 2017 the state made over N13 billion in its internal consolidated revenue receipts.
“This increase in consolidated revenue receipts was due to the state government hard work in creating enabling and striving business environment through internalising the Federal Government’s EODB principles in the state.
“With more businesses springing up in Osun, we now have more people in the tax drag-net of the state from the informal sector.
“The number of people in the drag-net had increased tremendously from below 200,000 tax-payers to now 470,801 tax-payers.
“And we operate a pay direct system, which allows little or no human interference in the collection of government revenues.
“Our governor, the personnel in the IGR board and the state’s ministry of finance are not resting in their oars to ensure that the state revenue increases and more people pay taxes in the state,’’ he said.
According to him, Osun people are happy to see how judicious the state government spends the consolidated revenue receipts for their benefit.
On the lessons learnt on the SLOGOR retreat, Ijidele said:
“The retreat had made me realise that issues bothering on adherence to best practices on financial management must be taken very seriously in order to build a transparent and result-oriented financial system.
“The state at all times must subscribe to modern financial laws and regulations that promotes transparency and good governance for the benefit of all in the state.
The SLOGOR project is funded by the European Union and managed by the World Bank.
The project, which commenced in 2014, is expected to wind up on Sept. 30, 2019.
The six participating states in SLOGOR project are: Anambra, Cross River, Jigawa, Kano, Osun and Yobe.
The retreat was organised by the Ministry of Budget and National Planning in collaboration with the World Bank and European Union.
The theme of the retreat is: “Assessing the Implementation of the PFM Reforms at the Sub-National Levels of Government’’.
The three-day retreat ended on May 4.
