The Oyo State House of Assembly on Thursday tasked the state board of Internal Revenue and other revenue generating agencies of the state government to jack up its efforts if the state was to attain the 2017 Internally Generated Revenue target of N48 billion.
This charge stemmed from presentation by the state Commissioner of Finance and Budget, Mr Bimbo Adekanmbi, his Lands, Housing and Urban Development, counterpart, Mr Isaac Omodewu, and especially that of the Special Adviser, Oyo State Board of Internal Revenue, Mr Biyi Oloko, who revealed that the state had generated N5.3 billion as IGR for the first quarter of this year.
In his presentation, Oloko said the state internally generated N1.6 billion in January, N2.63 billion in February and N1.41 billion in March.
He however said that the N5.3 billion generated in the first quarter of this year was a 43 percent growth rate compared to N3.7 billion generated in first quarter of 2016.
The 2017 budget is premised on a monthly IGR target of N4 billion.
In his own presentation, Commissioner for Lands, Housing and Urban Development, Mr Isaac Omodewu, said his ministry strived to contribute to the state’s IGR target through redevelopmentof government quarters, opening up of government reserved areas, land documentation, land use charge, sublease of landed properties and mortgage.
He also said the government was in the process of ascertaining the number of houses, whether private or commercial, in the state, so as to charge requisite property taxes.
However, Omodewu said the ministry was challenged by inadequate funding and enforcement.
Responding to an inquiry by Minority leader, Honourable Olagunju Ojo, Omodewu said the state government allowed payment in installments for those desirous of occupying GRAs but pointed out that the property had to be developed in 2 years.
Commissioner for Finance and Budget, Mr Bimbo Adekanmbi said the state government allowed MDAs access funds for projects based on the extent to which they generated revenue internally.
He said the state government prioritised the funding of socioeconomic projects that can generate more revenue.
Furthermore, Adekanmbi spoke of the setting up of a budget implementation committee to monitor how well MDAs achieved their set revenue targets.
Speaker of the Assembly, Honourable Micheal Adeyemo urged state revenue generating agencies to develop a one-stock platform to generate revenue, calling for intensification of efforts to block leakages and ensure that all taxable entities whether in the formal or informal sectors, are brought into the state tax net.
Deputy Speaker, Honourable Abdulwasi Musah questioned whether the state government was selling out the GRAs, noting complaints of some residents of the state about not being able to purchase properties of the GRAs.
Commenting, Honourable Olusegun Olaleye of Ibadan II constituency, called for caution of the consultants in their revenue generating task such that they do not stiffle the revenue generating ability of the local government.
Also, deputy Majority leader, Honourable Oyaleke Oyatokun charged the revenue generating agencies of the state to include federal generating agencies and include the informal sector in the tax net.
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