The Ogun State Government has said it generated N40bn Internally Generated Revenue in the first quarter of 2021.
The government also said it planned increase the yearly Gross Domestic Product rate from the current single digit to 25 per cent.
The Commissioner for Finance, Dapo Okubadejo, disclosed this in Abeokuta during the ‘Pre-investment Summit Roadshow,’ organised ahead of the state’s investment summit.
The summit titled, ‘OgunIseya21: Becoming Africa’s Model Industrial and Logistics Hub,’ is billed to hold between July 13 and 14.
Okubadejo said the state’s IGR had recorded a turnaround after last year’s shortfall, which he blamed on the COVID-19.
Speaking on the GDP growth, Okubadejo said the state had put in place policies and reforms to achieve the 25 per cent growth target, using “real sector growth, job creation, food security, poverty eradication and increased investments.”
He said, “We have a significant turnaround in the first quarter of this year. In fact, as of April, we have made almost N40bn for Internally Generated Revenue. Our target this year is to exceed all the previous records.
“This administration is focused on creating an enabling environment for investment to thrive and create good governance and individual prosperity.”
