Abia State has recorded a significant milestone in its revenue generation, achieving N15.5 billion in internally generated revenue for the first half of 2024.
This figure represents a notable improvement in the state’s financial standing, according to Commissioner for Finance, Mike Akpara.
Speaking at a press briefing on Monday, Akpara revealed that the state’s IGR has consistently increased every month, with an average monthly revenue of N17 billion.
This surpasses the state’s IGR in 2022, which stood at N16 billion, and shows a slight increase from 2023, according to Peoples Gazette.
To further boost revenue generation, the state government has set an ambitious target of N4.3 billion average monthly revenue and N52.4 billion by the end of the year.
This target exceeds the budget allocation, demonstrating the administration’s commitment to enhancing the state’s financial stability.
To achieve this goal, a multipurpose task force has been established to ensure effective tax collection and enforcement. According to Governor Alex Otti’s media aide, Ferdinand Ekeoma, this task force will play a crucial role in ensuring consistent revenue growth.
The administration is optimistic about its ability to surpass current figures and achieve even better results in the future.