BREAKING NEWS: Abia State Records N15.5 Billion in IGR for First Half of 2024 Under Governor Alex Otti’s Leadership

Abia State has recorded a remarkable N15.5 billion in IGR between January and June 2024, indicating the state’s robust economic strategies under Governor Alex Otti’s administration.

The Commissioner for Finance, Mr. Mike Akpara, during a news briefing at the Government House in Umuahia, after the State Executive Council meeting, announced this remarkable achievement to the press.

Mr. Akpara revealed the state’s consistent growth in IGR, expressing satisfaction with the improving figures each month.

He said “Previously, our year to date figures were around 59 percent or 58 percent , but as of today, we are at 62 percent, which marks an impressive improvement,” he stated.

From January to June, Abia State realized N15,499,482,456.70 in IGR, with an additional N17,010,976,942.34 realized from July 1 to July 6. This reflects an average monthly revenue generation of approximately N17 billion, a massive increase from previous years. In 2022, the state’s IGR was N16 billion, and in 2023, there was a slight increase with the current administration’s efforts.

Mr. Akpara made emphasizes on the importance of understanding monthly average revenue to grasp income patterns, noting that revenue generation can fluctuate. “You cannot expect your IGR to be N3 billion every month. For instance, the monthly average revenue from June 23 to June 29 was N2.5 billion, which provides a clearer picture of the consistent income flow during that period,” he explained.

Under the leadership of Alex Otti, there is an ambitious target to boost the state’s IGR. The administration aims to have an average of N4.3 billion monthly, with a target of N52.4 billion by the end of the year. “We have set a target that exceeds the budget to motivate us to meet and surpass our goals,” Mr. Mike Akpara added.

The Special adviser of the governor on media and publicity, Mr.Ferdinand Ekeoma, mentioned that a multipurpose task force has been established to ensure effective tax collection, contributing to the increase in revenue generation. “With these measures in place, we expect a consistent rise in our revenue generation. We aim to perform even better,” Mr. Ferdinand Ekeoma said.

This impressive increase in Abia State’s IGR signifies the effective economic strategies and governance under Governor Alex Otti, setting a positive precedent for continued growth and development.