Ogun Internal Revenue Service (OGIRS) on Tuesday disclosed that it generated over N45.8 billion revenue to the coffers of the state government between January and October this year.
The Chairman of the agency, Mr. Adekunle Adeosun, disclosed this while defending the 2019 budget proposal of the agency before members of the state House Committee on Finance and Appropriation, at the assembly complex, Abeokuta.
He explained that the revenue was generated from personal, road, capital gain, withholding and investigation taxes, direct assessment, driver’s licence, stamp duty, and development levies, among others.
Adeosun said that the OGIRS had budgeted the sum of N5.5 billion as total expenditure for next year, with N5 billion going for recurrent expenditure and N500 million for capital expenditure, adding that in fiscal year the Service is targeting over N95 billion as revenue collections.
Expatiating further, the tax administrator explained that the agency proposed N247.4 million for the construction and provision of office buildings as part of its capital project for 2019.
According to him, in order to meet its revenue target next year, the agency will explore the tax potential of the informal sector and encourage voluntary tax compliance of taxpayers to support government’s drive for improved internally generated revenue (IGR) in the state.
In his reaction, the Chairman of the House Committee on Finance and Appropriation, Hon. Victor Fasanya, commended the agency on its revenue drive, urging the leadership to improve on the drive and ensure that revenue leakages are prevented.
The lawmaker advised the leadership of the OGIRS to improve on its relationship with the assembly for the general growth of the state.
