The governor of the state of Kogi, Alhaji Ahmed Ododo, has revealed that the State is pointing to ₦ 6 billion in monthly income generated internally (IGR) to finance salaries and economic growth.
The Honorable Commissioner of Finance, Budget and Economic Planning, Excmo. Thuswaju Idris Asiru, he revealed this while representing the governor during the 2025 budget breakdown held at the Government's house.
He reaffirmed the commitment of the administration to ensure that wages are paid exclusively from IGR in the next six months, without imposing unnecessary financial burdens on citizens and small businesses.
Excmo IGRI declared that the annual IGR of the state of Kogi as of December 2024 stood at approximately ₦ 27.73 billion, averaging ₦ 2.3 billion per month, a significant improvement of ₦ 6.5 billion annually in 2015. However, to reach the Monthly objective of ₦ 6 billion, the State must more than triple its current generation of income, which requires a multifaceted and strategic approach.
To promote this ambitious income growth, the commissioner declared that the state government has outlined comprehensive strategies, which include:
1. ** Strengthening income
2. ** Increased tax base **: Intensification of efforts to capture more taxable entities, especially in the informal sector, ensuring equitable contributions without overloading companies.
3. ** Digitization **: Implementation of digital solutions for income collection to minimize leaks and improve efficiency.
4. ** Economic diversification **: Expansion of income sources investing in key sectors such as agriculture, mining, tourism and manufacturing to reduce dependence on traditional tax revenues.
5. ** Public-private parties (PPP) **: Strategic collaborations with private investors to generate infrastructure income, services and industries, reducing financial tension over the state government.
6. ** Institutional development and strengthening capabilities **: Training and equipment of income officers and agencies with modern tools and data -based information to improve income management.
Excmo IDRIS emphasized that although the administration has significantly advanced in the increase in the IGR of the State, achieving a monthly objective of ₦ 6 billion would require sustained efforts, strategic planning and the active participation of interested parties in the state's economy.
He stressed that the income growth initiative is aligned with the vision of the Governor of Financial Independence, allowing Kogi to finance salaries, execute development projects and reduce the dependence of federal allocations.
He also pointed out that the Administration focuses on promoting an economy that works for everyone. When implementing these strategic income initiatives, the State will ensure that the salaries of civil officials are paid from internally generated income while maintaining a friendly business environment. This reinforced the resolution of the Ododo administration and indicates a bold step towards economic resilience, tax sustainability and the best service provision.
The state of Kogi is on its way to becoming a model for the generation of income and financial independence in Nigeria, he said.