James Sowole in Abeokuta
The Ogun State Government said yesterday that its goal of 100 billion naira in internally generated income (IGR) by 2021 was achievable because it had broadened its revenue base through innovation, the provision of ‘infrastructure and digital transformation initiatives.
State Finance Commissioner and Chief Economic Advisor to Governor Dapo Abiodun, the Hon. Dapo Okubadejo said this during an interview with reporters in Abeokuta.
Okubadejo said the government is optimistic about meeting and even exceeding the revenue target for 2022, given the many innovative ideas already in place.
He said: “We have embarked on many reforms of fiscal, economic and financial management in the areas of fiscal responsibility, debt management, purchasing, cash management, promotion of investments and ease of doing business, among others.
“In addition, several economic transformation initiatives have been implemented to deepen and broaden the state’s revenue base while stopping leakage and improving the efficiency of processes and service delivery through digitization. “
Okubadejo said the state has seen tremendous progress thanks to rapid socio-economic and infrastructural developments in the three senatorial districts, especially the creation of new Economic Development Clusters (EDCs), with shared infrastructure such as the electricity, broadband and other facilities, which no doubt further improves the competitiveness of the state.
He said that the achievements recorded by the administration of Abiodun over the past 31 months were due to the judicious and prudent management of the resources at its disposal.
The commissioner said that Abiodun had shown a high level of competence, commitment and also had original thinking to transform the state, since taking office.
He explained that the administration had embarked on the construction and reconstruction of many roads, some of which were completed. This, he listed to include the Epe-Ijebu-Ode highway, the Abeokuta-Siun-Sagamu highway and many other township roads in 18 local government areas of the state.
According to him, several other large economic infrastructure projects such as Atan-Agbara-Lusada road, Agro-cargo international airport were in different stages of completion and would be put into operation this year.
Okubadejo said that the completion of most of the projects, whether newly launched or inherited from the previous administration, would not have been possible without improving the IGR and long-term financing of the infrastructure. the Central Bank of Nigeria (CBN), at a single-digit interest rate. and a two-year moratorium.
He said: “Governance is about serving the people. The governor is not sectional in his approach to ensuring significant developments that have had a positive impact on the lives of citizens. He is a detribalized man who sees the entire state as an indivisible unit.
“The 14-kilometer road projects that link Ijebu-Ode and Epe have been completed. Another ongoing project is the Atan / Agbara / Lusada road which is at the center of the Agbara industrial zone.
“Due to the severe deterioration of this road, many companies were already shutting down their operations and in some cases selling them or relocating out of Nigeria, due to the deplorable condition of the road.
“Let’s also look at the construction and beautification of the city gate of the Sagamu-Abeokuta interchange gate, the construction of 1,000 affordable housing units across the state, among other noble projects.”
According to him, “the infrastructure budget that is currently being executed in Ogun State is intended to lay a solid foundation for the economic transformation and sustainability of the state government.
“Since the state already has a fiscal responsibility law, each funding follows due process, not only through executive committee resolutions, but also through resolutions and approval by the Assembly of state in addition to very strict regulatory approval processes by the federal government, through the Debt Management Office (DMO), the Federal Ministry of Finance and the Central Bank of Nigeria (CBN).
“When such funds are used to finance large infrastructure projects, such as the Epe / Ijebu-Ode road which will open up the whole area to massive economic development which serves as an escape route for the free trade area of Lekki, that would also remove the traffic. traffic jam along the always busy Lagos-Ibadan and Lagos / Ore / Benin roads respectively, it’s money well spent.