Oyo State Closes in on 5 billion Naira IGR without Increase in Tax

A multinational consortium (AFRICORP) has agreed on a multi million dollar deal with Oyo State Government to set up an agro-allied company in Ibadan

The multinational company reached the decision having been satisfied with the progressive developmental policy of the Seyi Makinde Administration

In a press release issued by the Commissioner for Information, Prince Dotun Oyelade, the establishment of the factory will further boost the infrastructure driven economic development of Oyo State

The Commissioner added that government policy has ensured the fulfillment of the promise of Governor Seyi Makinde to provide food relief packages for over 200,000 of the poorest households while the provision of 50% reduction in transport fares is still ongoing.

The Commissioner also referred to the provision of free health insurance coverage for identified 40,000 pensioners in the state while the health scheme has equally absorbed 150,000 students so far in state owned tertiary institutions and 84,000 vulnerable persons into the Oyo State Health Insurance Agency, (OYSHIA) scheme.

To further drive its welfare scheme, portals have been opened for the recruitment of 7000 teachers, 332 prefessional health workers and care givers. This marks the highest number of recruitment ever undertaken by any administration in Oyo State

“On Agriculture, Over 10 billion Naira has been cumulatively invested in the Fasola Agricultural hub and this is expected to grow to 20 billion Naira worth of investment next year” he added

Oyelade said that the State government has been able to do all these and more as a result of effective management of resources and the increase in the internally generated revenue of the State.

The Commissioner said, “The present Administration met about 1.3 billion Naira IGR in 2019 but has now increased it to 4.95 billion Naira for the first quarter of 2024 without imposing tax increases on the populace”

E-Signed:

Prince Dotun Oyelade,
Hon. Commissioner for Information,
Oyo State.
28th June, 2024.