Oyo State Governor Seyi Makinde has disclosed that the state increased its internally generated revenue IGR, for this year by focusing on competitive advantage, while keeping the tax rate stable.
Disclosing this via his official Twitter handle, Makinde said the increase in IGR was also possible without increasing the tax burden on Oyo state residents.
He tweeted, “The Nigerian Bureau of Statistics, NBS, H1 2020 report shows that our IGR grew by 26.4 per cent amidst this pandemic. We did this without increasing the tax burden on our citizens. What we have done so far is to focus on our competitive advantage.”
Recall that it was reported last month that states in Nigeria, including the Federal Capital Territory, FCT, generated a sum of N612.87 billion as IGR between January and June 2020. This was disclosed in the states’ IGR report recently released by the NBS. Oyo State generated N17.77 billion in the same period.