Ogun: Revenue Service proposes N75bn revenue for the year 2021

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The Ogun Internal Revenue Service (OGIRS) has said it proposes to generate N75 billion revenue for the state government.

The OGIRS Chairman, Mr. Olugbenga Olaleye, stated this while defending the agency’s 2021 budget proposal before the House of Assembly Committee on Finance and Appropriation, in Abeokuta on Tuesday.

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Olaleye explained that the revenue would be generated through personal tax, road tax, capital gains tax, withholding tax, tax investigation, direct assessment, pool betting, and casino licenses.

He stated that the revenue target for 2021 was achievable with the proposed automation system, as against the hitherto manual process of revenue collection.

The OGIRS chairman added that electronic data management of files in the agency would block the leakages in the collection of taxes and bring more residents into the agency’s tax net.

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He stated further that the agency was able to generate the sum of N25.5 billion as revenue between January and October out of the projected N58.6 billion for the same period.

According to him, the agency will improve its tax revenue by 144.40 percent in 2021.

Olaleye added that OGIRS had proposed to increase its tax stations from 34 to 37 in the New Year, in addition to the six zonal offices, saying that this would boost its revenue generation efforts.

He said that the agency had proposed N2.031billion as its recurrent expenditure, with N600 million as capital expenditure.

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