Abeokuta–The Ogun Commissioner for Commerce and Industry, Mr Bimbo Ashiru, yesterday said that the ministry generated N197 million between January and October.
Ashiru made this known while defending the 2016 budget proposal of the ministry before the Ogun House of Assembly Committee on Finance and Appropriation in Abeokuta.
The commissioner said that the ministry generated N197 million in 10 months out of the expected N3 billion for the year, adding that the ministry had proposed N4.2 billion as its expected Internally Generated Revenue, IGR, for 2016.
“The 2015 IGR was generated from trade and artisan registration, road haulage, registration of business premises and inspection fees.
“The ministry has mapped out strategies to improve on its IGR.
“The ministry proposed the sum of N962.9 million as its total expenditure for 2016, with N647 million as capital expenditure and N315 million for recurrent.
“We will continue to promote empowerment of Micro Small and Medium Enterprises through credit support facilities and also promote the production of quality exportable garments along with apprenticeship skills acquisition to alleviate poverty.”