The Abia State Government has reported a significant increase in its Internally Generated Revenue (IGR), recording approximately ₦15.5 billion between January and June 2024. Commissioner for Finance, Mike Akpara, shared this information during a news briefing at the Government House in Umuahia. He expressed satisfaction with the consistent monthly improvement in revenue figures.
Akpara detailed that the state’s IGR had shown a steady growth, with a notable year-to-date increase from around 59% to 62%. Specifically, from January to June 2024, the IGR totaled ₦15,499,482,456.70. Additionally, from July 1 to July 6, 2024, the state generated ₦17,010,976,942.34.
He highlighted the importance of monitoring monthly average revenue, which provides a clearer picture of income patterns. For example, between June 23 and June 29, 2024, the state generated an average revenue of ₦2.5 billion. From July 1 to July 6, the average revenue increased to ₦2.7 billion, illustrating the cyclical nature of IGR.
To further boost revenue, the government has set ambitious targets: an average monthly revenue generation of ₦4.3 billion and a total of ₦52.4 billion by the end of the year. These targets exceed the budgeted figures to encourage higher performance.
Special Adviser to the Governor on Media and Publicity, Ferdinand Ekeoma, mentioned that a multipurpose task force has been established to ensure effective tax collection, contributing to the expected consistent increase in revenue generation. The government remains optimistic about achieving and surpassing these targets, aiming to improve the state’s financial stability and development.
