Ogun generates N15bn as IGR within six months

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Femi Adeleke

Abeokuta

 

 

The Ogun State Internal Revenue Service (IRS) on Wednesday disclosed that, it generated the sum of N15.112 billion, representing 11.16 percent out of the projected figure of N135.4 billion as Internally Generated Revenue (IGR) between January and June, 2020.

 

 

 

The Agency Head, Mr. Adekunle Adeosun disclosed this while appearing before members of the State House of Assembly Committee on Finance and Appropriation.

 

 

 

The Committee, led by Hon. Olakunle Sobunkanla was assessing the level of implementation of the year 2020 budget.

 

 

 

The State IRS boss attributed the shortfall in the revenue drive to the adverse effect of the COVID-19 lockdown on the economy which caused a drastic reduction in tax payments by business owners and investors.

 

 

 

Adeosun noted that the N15.112billion generated was at a negative variance to the tune of N1.7billion when juxtaposed with the over N16.8billion generated in the corresponding period in 2019.

 

 

 

He listed revenue sources of the agency within the period under review to include N14.585bn from taxes and N526.776m from licences.

 

 

 

Adeosun added that the agency had deployed more technological innovation to improve tax compliance such as e-filing, e-assessment and payment through USSD platform, having opened additional road taxes desks in strategic locations in the border areas.

 

 

 

 

He explained that the basis for the approval of tax reliefs and palliatives were to cushion the effect of the pandemic on tax payers, while encouraging voluntary compliance, he said outstanding tax audit jobs had been allocated to tax audit monitoring agents.

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