The Oyo State Government is targeting an internally-generated revenue of ?100 billion by the end of 2025 financial year,making it sit comfortably as a leading financial hub in the country.
The present administration has increased IGR to ?65 billion in 2024, and as at July this year, it rises to ?58 billion just ?7 billion short of the 2024 total revenue gathered.
Dotun Oyelade, Commissioner for Information, who said the past administration struggled to reach the ?15 billion mark annually, stated that the ‘implication of the leap in the IGRs is that Oyo State will beat its own record by the end of this year with a target close to ?100 billion.
While confirming the report that since last year, Oyo State has been the best place to live in Nigeria based on quality of life, functional infrastructure, service delivery and security, reacted to a report by the State Performance Index (SPI), handled by a consultancy firm.
He said, ‘Obviously, the State’s Internally Generated Revenue (IGR), which has improved dramatically in the past few years, is being put to good and productive use for the benefit of the citizenry.
The Commissioner said that ‘unlike most sub-nationals and past administrations in Oyo State, IGR collection has been seamless and has not increased the burden on investors.
‘Rather, it has opened up the economy through agribusiness, infrastructure and tourism. This expansion of the economy, coupled with the ripple effect of consistent payment of ?14 5billion to over 130,000 workers monthly, has had a salutary effect on the increasing IGR of the state.
The Commissioner however revealed that the month of September ?15.4 billion was paid as salaries instead of the usual ?14.5 billion.
Another area of concentration of the Governor Seyi Makinde-led administration is healthcare, saying 264 primary healthcare centres have been upgraded and over 3,900 professionals recruited, which has significantly restored the healthcare system.
Oyelade recalled that during a courtesy call at the Governor’s Office two weeks ago,Celine Lafocriere, the UNICEF Country Representative said that UNICEF has had more engagements with Oyo State than any other state in Nigeria in the past two years.