Ekiti State has achieved the highest improvement in Internally Generated Revenue (IGR) among the 36 states and Abuja, the Federal Capital Territory.
Ekiti News reports that the state’s IGR increased by 75%, rising from N17.03 billion in 2020 to N29.82 billion in 2023.
Ekiti State was ranked first in the 2023 Annual Growth Rate Ranking according to a revenue report released by the Joint Tax Board (JTB) at its 155th meeting held at Zuma Rock Resort, Suleja, Niger State.
This follows another investment report indicating that, out of the $3.38 billion in foreign direct investment (both portfolio and other investments) recorded in the country in the first quarter of 2024, Ekiti joined Lagos and Abuja as having high foreign direct investment portfolios.
Ekiti State also advanced to the 16th position in the Total Collections Ranking, up from being among the bottom five.
Under the Direct Assessment Parameters, the dynamism of the Ekiti State Internal Revenue Service is evident as the state improved from 33rd to 15th position.
Rt. Hon. Taiwo Olatunbosun, Ekiti State Commissioner for Information described the remarkable improvement as the effect of the Governor Biodun Oyebanji administration’s proactive measures and policies in the state.
Also speaking on the development, the Chairman of Ekiti State Internal Revenue Service, Olanitan Olatona, said “it is hoped that all MDAs will improve their collections and reporting to improve on the statistics in the future.”