Obaseki-The State’s Internally Generated Revenue, IGR, will exceed N70 billion by 2024

Godwin Obaseki, the Governor of Edo State, has announced that the state’s internally generated revenue (IGR, will exceed N70 billion by 2024.

The governor, who revealed this in an interview with journalists over the weekend, said the state’s IGR collection per month had steadily risen since 2016 due to the deliberate investments made by his administration in enhancing the local economy.

He said the IGR’s growth would result from exploiting its comparative advantage and seizing opportunities in technology, culture, manufacturing, and agriculture, among other sectors of the state’s economy.

The governor said, “We have concentrated on the economy for the past seven years, creating the conditions for an economic transformation in Edo State.

”Our aim was to bring private investors to Edo to focus on areas where we have an edge and an advantage. We said the government will act as a facilitator to spark and fuel business opportunities in Edo State.

“Since 2016, our IGR collection per month has steadily risen due to the deliberate investments made in enhancing our local economy. Our collaborations and popular MoUs have put Edo on the road to financial stability.

“The government is now operating more effectively, and we are witnessing the outcomes of the hard work in terms of revenue increases. Between 2016 and 2023, we have accomplished a lot in terms of IGR for the state, and next year, we expect that we will get IGR above N70 billion.

“Projects like the Gelegele Seaport and Enterprise Park, among others, will further influence the internally generated revenue of the state in the coming years.

“We have achieved a lot with cassava and ethanol as well as oil palm in the agricultural sector. We have worked diligently with partners to expand the retail space in Edo State, and hopefully, before the end of the year, we will be launching about 60 shops in the Benin Mall with different facilities.

“The future we envision is a state with organised infrastructure to support private sector production. We have done a lot with the Benin Enterprise Park, as we are working on the one in Benin and have acquired land to build those in Edo Central and Edo North.

”We are hoping that the future is one where the government will work very closely with the private sector to drive the growth of Edo State’s economy.