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Finance Ministry Surpasses Revenue Target

ogun-state-new-logoThe Ogun State Ministry of Finance has stated that as at August, it has surpassed its revenue target for 2017.

The Commissioner in the Ministry, Mr. Adewale Oshinowo said the approved revenue for the Ministry was N25m but has within the period generated N332m representing about 1330.26 percent of its revenue target.

Mr. Oshinowo disclosed this while giving an appraisal of the 2017 budget of the Ministry before the State House of Assembly Committee on Finance and Appropriation, adding that out of the N215m approved for salaries, only N121m has been expended so far.

Reacting to submissions by the Commissioner on the budget performance, Chairman of the Committee, Hon. Bankole Akanbi commended the Ministry for surpassing its budget noting that there was still room for improvement.

Akanbi also tasked the Ministry to liaise with its Budget counterpart and other stakeholders to ensure that realistic revenue allocations and targets were given to agencies in order for them not to create unnecessary revenue gaps in the 2018 appropriation bill.

On his part, another member of the committee, Hon. Olusola Sonuga urged the Ministry to advise other revenue generating agencies to deploy more strategic approaches to revenue collection to prevent leakages and further boost the State IGR.

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