The Ogun government says it plans to increase its monthly Internally Generated Revenue (IGR) from seven billion naira to N10 billion.
Gov. Ibikunle Amosun stated this in Abeokuta on Tuesday at a press conference held ahead of the fourth edition of its annual Investment Forum scheduled to hold between March 20 and March 21.
Amosun said that the state’s monthly IGR, which was N750 million when he assumed office in 2011, had since increased to seven billion naira.
He attributed the increase to the success of the rebuilding mission embarked upon by his administration.
The governor, who described the state as the industrial capital of Nigeria, said his administration has set N10 billion as the new target for its monthly IGR.
He also said his administration had opened up the state for business after creating conducive environment which had continued to attract new businesses.
The governor recalled that Ogun, which was in 2011 rated as 26th in terms of ease of doing business among Nigerian states in a World Bank Report, disclosed that the state had moved up to the second position by 2014.
Amosun also said that no fewer than 304 new firms had since began business in the state.
He said 148 of these firms had each invested between $200 million and $2 billion in the state while the remaining 146 firms had each invested up to $50 million.
According to him, the state has now entered into a phase of consolidating its gains and accelerating growth by focusing on key sectors of education, agriculture and technology.
He said the Investors’ Forum would be attended by both local and foreign investors, adding that the programme would enable the state to showcase the vast investment opportunities in the state.