The Ogun Internal Revenue Service on Wednesday said it had generated N15.11 billion revenue between January and June for the state government.
Adekunle Adeosun, the Head of the Agency, stated this while appearing before members of the Ogun State House of Assembly committee on Finance and Appropriation, led by Olakunle Sobukanla, in Abeokuta.
The News Agency of Nigeria reports that the Assembly was assessing the budget performance of Ministries, Departments and Agencies between January and June.
Adeosun explained that the N15.11 billion revenue generated in six months represented 11.2 per cent of N135.4 billion budgeted as revenue for the whole year 2020.
The achievement, he noted, was at a negative variance to the tune of N1.7 billion when juxtaposed with the over N16.8 billion generated in the corresponding period in 2019.
The agency head explained that the N15.11 billion revenue was generated from taxes and licences.
He attributed the shortfall in the revenue drive to the adverse effects of the COVID-19 lockdown, which caused a drastic reduction in tax payments by business owners and investors.
He added that the agency had deployed more technological innovation to improve tax compliance such as e-filing, e-assessment and payment through USSD platform, having opened additional road tax desks in strategic locations in the border areas.
Earlier, the State Commissioner for Finance, Dapo Okubadejo, had submitted that the Ministry of Finance was shoring up initiatives to revitalise the state’s economy as part of the post-COVID-19 economic plans of the government.
Okubadejo said the plans included adoption of a robust reform in Land Use Administration and Amenities Charges, introduction of revenue harmonisation scheme to eliminate multiple taxation and block revenue leakages.
The commissioner, represented by Adekunle Hazzan, the Permanent Secretary in the ministry, stated that the ministry had set up task force for revenue monitoring and enforcement.
He said the ministry generated N129. 9 million as revenue between January and June.
He assured that the measure was aimed at reducing fake ticketing and fraudulent activities of revenue agents at toll points across the state.
NAN reports that the committee also assessed the budget performance of the State Ministry of Budget and Planning.