By; BAYO AKAMO, Ibadan
Oyo state Commissioner for Finance and Budget, Mr Bimbo Adekanmbi on Monday hinted that the states Board of Internal Revenue (BIR) is to generate N48 billion, at a monthly IGR target of N4billion, while MDAs will provide N64billion.
The Commissioner dropped this hint in Ibadan while speaking at the breakdown of the 2018 appropriation proposal of N267.4billion held at the House of Chiefs, Oyo state Secretariat.
He pointed out that others MDAs expected to generate revenue for the state in 2018 included the Ministry of Lands, Housing and Urban Development, N40 billion; Bureau of Investment, Promotion and Public-Private Partnership to make N2.5 billion, while N2.57 billion is to come from the Health Insurance Scheme and N2.56 billion from the office of the Surveyor-General.
According to Mr Adekanmbi, the 2018 budget is expected to be financed from unspent income brought forward from the 2017 budget of N10.41 billion, statutory allocation from FAAC/others of N94.43billion, capital receipts of N43.72billion, and transfer from Local government, JAAC and local government state pension board.
The Commissioner added that Oyo state government has initiated efforts towards getting the IGR improved with the restructuring and re-positioning of the Board of Internal Revenue, adding that the restructuring and re-positioning exercise which is about to be completed, will enhance and improve the IGR in the 2018 fiscal year.
Speaking further, Mr Adekanmbi stressed that in 2018, the state government’s priority on expenditure is expected to be on Road construction at the cost of N43.7 billion, Lands, Housing and Urban Development, N11.7 billion; Education, N6.1billion; Agric, N3.8billion; Health, N2.9billion and Trade and Investment, N446.8million.
The Commissioner stated aside
the ongoing construction of roads across the state, the new roads slated for constructions in 2018 are the rehabilitation of Beere-Alekuso-Agbeni-Dugbe, rehabilitation of Oritamerin-Ayeye-Inalende-
Commenting on the 2017 budget, the Commissioner attributed the non-implementation of the budget to the global economic downturn that negatively impacted on the national income which made the allocations from the federation account to Oyo state to witness reduction.
He maintained that the IGR that would have come to the rescue of Oyo state did not fare better in 2017 as it was about 16.84 percent of the total revenue performance and about 18.48 percent of the recurrent revenue, adding that it was unfortunate that the Oyo state could only boast of an Internally Generated Revenue of 16.84 percent as at September 2017 and at a monthly IGR average of N1.3billion.
Mr Adekanmbi while emphasizing that the Oyo state government was not planning to increast tax to raise its IGR declared that the government would expand the tax net to cover hitherto neglected aspects of the economy.