CITN Rates Ogun Third in IGR

• CITN Rates Ogun Third in IGR

The Chartered Institute of Taxation of Nigeria (CITN) has rated the Ogun State Government third in Internal Generated Revenue (IGR) among the 36 states, following the N72,983,120,003.85 recorded by the state in 2016.

Speaking in Abeokuta, the Ogun State capital, during the 19th annual tax conference with the theme: “Taxation and Governance: The Social Contract Imperative,” CITN President, Dr. Olateju Somorin, explained that Ogun State recorded N34.6 in 2015, an increase of N17.09 billion from N17.5 billion it recorded in 2014.

She said the National Bureau of Statistics (NBS) stated that Ogun State came first by doubling the N17.5 billion it generated in 2014 to N34.6 billion in 2015.

According to Olateju, the total components of revenue were PAYE (N24.15 billion), direct taxes (N1.81 billion) Road Taxes (N364 million), other taxes (N6.43 billion) and MDAs Revenue (N40,218,549,061.91).

The state Governor, Senator Ibikunle Amosun, however, appreciated the institution for its rating. Amosun said there was no way government could survive without taxation, adding that taxation remained the strength of any government.