Following its consistent positive performance in generating revenue, Ogun State has been ranked as Nigeria’s leading Internally Generated Revenue (IGR) state on Index A1.
This was made known in the State of the States 2023 report by BudgIT, which posits that states that rank higher on Index A1 have been able to significantly grow their IGR year-on-year and are progressively reducing their reliance on federal allocations.
Ogun, which beats other states to emerge as Nigeria’s most improved state on Index A1 with an index point of 0.53, is closely followed by Kaduna (0.47), Bauchi (0.41) and Rivers (0.36) in the latest ranking.
Ogun, had in the last four years, remained among Nigeria’s top four IGR states, coming behind Lagos, Rivers and the FCT, Abuja, has now taken the lead in percent of IGR growth, in its avowed desire to consolidate its position as Nigeria’s top investment destination of choice.
Reacting to the development, the Ogun State government indicated that reducing its dependency on federally allocations has been a major goal of Governor Dapo Abiodun since taking over the mantle of leadership in the state on May 29, 2019.