Abia State Records Impressive N15.5 Billion IGR in Six Months: Here’s Why

Abia State has recorded a remarkable N15.5 billion in internally generated revenue (IGR) between January and June 2024. This significant increase highlights the state’s robust economic strategies under Governor Alex Otti’s administration.

The Abia State government has reported an impressive N15.5 billion in internally generated revenue (IGR) between January and June 2024. This remarkable achievement was disclosed by the Commissioner for Finance, Mike Akpara, during a news briefing on the outcome of the State Executive Council meeting at the Government House in Umuahia.

Mr. Akpara highlighted that Abia State has seen a consistent increase in its IGR, expressing satisfaction with the improving figures each month. “Before now, we were running at a year-to-date around 59% or 58%, but as of today, we are doing 62%, which is quite different from what we used to get,” he stated.

According to the commissioner, the IGR collected from January to June amounted to N15,499,482,456.70, with an additional N17,010,976,942.34 collected from July 1 to July 6. This reflects an average monthly revenue generation of approximately N17 billion, a significant improvement from previous years. In 2022, the state’s IGR was N16 billion, and in 2023, there was a slight increase with the current administration’s efforts.

Mr. Akpara emphasized that understanding the monthly average revenue is crucial for grasping income patterns, noting that revenue generation can fluctuate. “The way revenue comes in, you cannot say your IGR will be N3 billion every month. If you look at the monthly average revenue in June 23 to June 29, it was N2.5 billion. This provides a clearer picture of the consistent income flow during that period,” he explained.

The finance commissioner also stated that under Governor Alex Otti’s administration, there is an ambitious target to boost the state’s IGR. The administration aims to generate an average of N4.3 billion monthly, with a target of N52.4 billion by the end of the year. “We have set a target that is far beyond what is in the budget to motivate us to meet and exceed our goals,” Mr. Akpara added.

Ferdinand Ekeoma, the governor’s media aide, mentioned that a multipurpose task force has been established to ensure effective tax collection, contributing to the increase in revenue generation. “With these measures in place, we expect to see a consistent rise in our revenue generation. We are aiming to do far better than we are currently doing,” Mr. Ekeoma said.

This significant increase in Abia State’s IGR demonstrates the effective economic strategies and governance under Governor Alex Otti, setting a positive precedent for continued growth and development.