Ogun Revenue Service Rakes In N11.8bn In Three Months, ..Deploys Technology To Enhance Collection - EDU-BIZNEWS


Tuesday, April 19, 2022

Ogun Revenue Service Rakes In N11.8bn In Three Months, ..Deploys Technology To Enhance Collection


A total sum of N11.8billion has been generated by the Ogun State Internal Revenue Service between January and March, representing 83.86% of the projected N14billion for the first quarter of the  2022 fiscal year

Chairman of the agency, Mr. Olugbenga Olaleye who made this known to the State House of Assembly Finance and Appropriation Committee on Tuesday in Abeokuta  during the ongoing  2022 budget performance for the first quarter of the year, said that amount was 12.9% higher than N9.14 billion generated within the corresponding period in 2021

Olaleye who was represented by a board member of the revenue agency, Mr.Abiodun Adeleye described "the first quarter performance as the best in the last three years despite the current COVID-19 challenges and downturn in the world wide economies"

He explained that the revenue generated did not include N4.7 billion being expected from Tax Audit excercise for the first quarter of the 2022budget 

The chairman gave the break down of the revenue collected to include personal taxes, withholding taxes, stamp duty, pool betting tax, development tax/levy, road taxes ,tax Investigations, direct assessments and other registrations

Olaleye however assured the committee that the agency would continue to deploy right technologies to block leakages and Improve on its revenue earnings 

He expressed confidence that agency would achieve  70% of its annual targeted revenue of N56.3billion by September ending

The chairman stressed the need for provision of more computer hardware to enhance digitalization of tax collection as well as better office accomodations to create conducive environment for more effective performance


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