We’ve blocked all revenue leakages, says Akeredolu
THe Ondo State Governor, Mr Rotimi Akeredolu, on Wednesday said his government was targeting N30bn as revenue to be generated internally this year.
The governor also explained that he had put in place measures to increase its revenue in 2020.
He promised to block all the leakages through which the money meant for government was being stolen.
The governor spoke through the state Commissioner for Budget and economic Planning, Mr emmanuel Igbasan, during the presentation of the details of the state’s 2020 budget in Akure, the state capital.
According to him, N187.859bn was budgeted for the new fiscal year.
The fiscal document, which was christened ‘Budget of Growth’, was passed into law last week.
It has a total of N80.470bn earmarked for capital projects while N82.7bn goes for recurrent expenditure.
The governor said, “The 2020 budget has been designed to leapfrog the economy in all sectors and improve on the successes and achievements of this administration, notwithstanding the fluctuating fortunes of the economy in the last three years.
“The budget is designed to focus on the growth drivers of the economy in order to accelerate the pace of economic recovery and development.
“The projection of N30bn in 2020 as independent revenue represents an average of N2.5bn per month.
“The fluctuation of revenue from the Federation Account has been a problem since the global economic downturn of 2016.”
He said government planned to shore up its IGR by sustaining the revenue drive in the state by yearly increase of at least 20 per cent.
Other means listed included, “Innovative and integrated approach to drive government revenue through the ICT, determining the new revenue areas to expand the revenue base of the state and blocking of all the revenue leakages.