HomeBusinessKTSG nets N4bn IGR in Q1 2024

KTSG nets N4bn IGR in Q1 2024

 

 

Katsina State Government said it has collected N4.08 billion as Internally Generated Revenue (IGR) in the first quarter of 2024.

Malam Ibrahim Kaula,Chief Press Secretary (CPS) to Gov. Dikko Radda announced this in a statement on Sunday in Katsina.

According to him, the figure indicated a 227 per cent increase compared to the N1.79 billion generated during the same period in 2023.

He attributed the feat to the administration’s unwavering commitment to plugging leakages in the state’s financial system.

Kaula added that Radda’s administration had strategically positioned the state to not only exceed its current capacity, but also to shatter revenue projections.

“Estimates indicate that the state is poised to surpass the N20 billion mark in internal revenue generation for the year 2024.

“A feat that seemed unimaginable in previous years when the range hovered between N10 billion and N14 billion,” he said.

Kaula added that at the heart of this financial renaissance lies Radda’s visionary ‘Building Your Future’ policy document, a blueprint that had paved the way for ground breaking initiatives.

He listed some of the initiatives to include the State Treasury Single Account (TSA) and the recently implemented E-tax billing system.

“These reforms have not only streamlined tax and revenue collections, but have also fostered an inclusive environment, ensuring that no stone is left unturned in the quest for economic growth.

“One of the key catalysts for this extraordinary success has been the administration’s unwavering commitment to plugging leakages in the state’s financial system.

“By identifying and addressing these vulnerabilities, Gov. Radda’s team has effectively stemmed the tide of revenue loss, paving the way for an unprecedented influx of resources,” he said.

According to the CPS, Radda’s overarching objective is to empower the state to achieve a level of fiscal self-sufficiency.

This will enable it to offset its monthly and annual wage bills solely through internally generated revenue by year 2027.

Kaula expressed confidence that at the current pace of progress, that ambitious goal may be realised even sooner than anticipated.

He said, ”The state government had set an example for others to follow, proving that with undeterred commitment and innovative solutions, even the most daunting obstacles could be overcome.”

- Advertisement -

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here