The Ogun State Internal Revenue Service (OGIRS) has proposed to rake in N100 billion in 2024 as against N90 billion projected revenue target for 2023.
The Executive Chairman of OGIRS, Olugbenga Olaleye, disclosed this while defending the agency’s proposed budget for 2024 at the State Treasury Board Meeting on the year 2024-2026 Medium Term Expenditure Framework (MTEF) and the 2024 Budget preparation at Obas’ Complex in Abeokuta.
He said the figure proposed was achievable with the provision of needed infrastructure for the agency to drive revenue in the coming year
The chairman noted that plans were in top gear towards expanding the state tax net in the coming year with the support of digitisation, data analysis, enforcement, and synergising with other Ministries, Departments, and Agencies (MDAs).
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Meanwhile, Governor Dapo Abiodun has called on the Chartered Institute of Stockbrokers to lead the advocacy on transparency, accountability, and good governance, to build the needed trust and confidence in the capital market.
He made this known during the 27th Annual Stockbrokers’ Conference with the theme “Appraising New Trends in the Global Capital Market, Localising the Benefits” held in Abeokuta.
The governor tasked the conference to deliberate extensively on how the capital market could be a veritable source of capital aggregation that should fund the much-needed infrastructure and enhance the growth of local corporations in the country.
He opined that it was important for sub-nationals and even the federal government to collaborate and partner with the stock exchange to unlock the much-needed infrastructure that Nigerians need.
He also disclosed that sub-nationals like the state have commercial infrastructural projects that the capital market could help in funding, calling on the institute to continue to encourage investors to come from all over the globe and invest in the State.
“While the comparative evolution of Nigeria’s capital market and others around the world is necessary, the conference must also deliberate extensively on how the capital market can be a veritable source of capital aggregation that can fund the much-needed infrastructure and enhance the growth of local corporates in the country which will provide employment and help in the quest for economic diversification,” he said.