BY DAYO JOHNSON
AKURE — ONDO State government is projecting over N1billion as Internally Generated Revenue on monthly basis this year. Speaking yesterday while giving the analysis of this year’s budget, the Economic and Planning Commissioner Akin Adaramola, said the amount would translate to N12 billion  this year.

Adaramola pointed out that the projection “is a quantum leap over the 2010 figure of N6.916b and represent a 73.51 percent increase.”

The commissioner explained that the state targeted monthly revenue of N6.916bn in the 2010 budget but realized N6.583bn, an estimate of N500m monthly.

According to him the state had proposed N143.5bn for this year, and it is targeting N64bn as allocation from the federal government and N67bn from other revenues, including balance from the 2010 budget.

The Commissioner said that deliberate efforts would be made to substantially expand the tax base in the course of the year.

According to him new revenue sources will be employed while intensifying efforts at improving the efficiency for the collection of existing revenue rates will be reviewed during the year.

Consequently, government has set up a committee on IGR made up of civil servants from its various ministries and agencies.

Adaramola explained that N12bn proposed in the budget as Internally Generated Revenue, required a concerted effort to achieve adding that the committee, will among others, consider areas of increasing the revenue profile of the state including tax increment with a human face.

He said, “We are looking at some areas of leakages with a view to blocking them and increase on the rates and taxes so that we can realize the N12bn proposed as IGR in this year’s budget.

Adaramola said government was intensifying efforts in the areas of tax because it remained one of the best ways to generate funds and utilize same for the welfare of the payers.

“People think everything should be free but the earlier they realize that everything cannot be free, the better.”