Osun raises internal revenue to N600m monthly

OSUN State government has said that its aggressive fiscal policy has yielded positive fruit with the increase in the Internally Generated Revenue {IGR} from N300m to N600m monthly.The state commissioner for Finance, Economic Planning and Budget Dr. Wale Bolorunduro, said increased revenue generation was as a result of efficient fund management and plugging of loopholes inherent in the system.He said on assumption of office, the current administration in the state hired the services of a tax consultant, Messrs Infiti Segments Enterprises, that was able to rake in more revenue without raising the level of tax payable by citizens and corporate bodies.Bolorunduro,who gave the scorecard of the ministry for the outgoing year, said the administration of Governor Rauf Aregbesola observed mass poverty in the state and had resolved to look inwards for alternative sources of generating income instead of imposing further burden on the citizens in form of tax.He said: 'Since the coming on board of this new tax concultants, I feel delighted to inform you that the internally Generated Revenue of the state, which was oscillating between N300 million and N350 million has improved tremendously toN600 million monthly'.According to him, with the fiscal drive, the government would hit revenue target of N1 billion monthly in the first quarter of 2012.'By government's dogged commitment to the implementation of the five year fiscal strategy, the internally Generated Revenue of government is expectedto hit a sum of N2 billion monthly by 2013', he said.He said the government would soon approach the capital market to raise N85 bilion to execute capital projects, including the construction of 1wo-Osogbo, Gbongan-Akoda and Gbongan-Odeyinka-Orile-Owu roads.
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