The Abia Government announced that it recorded approximately N15.5 billion in Internally Generated Revenue (IGR) between January and June 2024.
Commissioner for Finance, Mr. Mike Akpara, disclosed this during a news briefing on Monday at the Government House in Umuahia, following the State Executive Council meeting.
Akpara highlighted the significant increase in the state’s IGR, noting, “The figures have continued to improve every month. Previously, we were running at around 58-59 percent year-to-date, but as of today, we are at 62 percent, which is quite different from what we used to get.”
He stated that the IGR for January to June was N15,499,482,456.70, and from July 1 to July 6, the state generated N17,010,976,942.34.
“From January to date, the state generated an average of N17 billion, compared to N16 billion in 2022. There was a slight increase in 2023 when the present administration took over, showing a significant rise in the state’s IGR,” Akpara said.
He explained that the monthly average revenue is a crucial metric for understanding income patterns. “Revenue can fluctuate; you cannot predict an exact IGR of N3 billion. The monthly average revenue for June 23 to June 29 was N2.5 billion, providing a clearer picture of consistent income flow during that period.”
“As of July 1 to July 6, we averaged N2.7 billion, indicating that IGR is cyclical. It has a cycle of how it runs,” Akpara added.
The government has set ambitious targets to boost the state’s IGR. “We have set a target of generating N4.3 billion monthly and aim to reach N52.4 billion by the end of the year. This target is beyond the state’s budget to motivate us to meet the budgetary goals.”
Special Adviser to the Governor on Media and Publicity, Mr. Ferdinand Ekeoma, mentioned that a multipurpose task force has been established to ensure effective tax collection. “We expect consistent increases in revenue generation, and we aim to exceed our current performance,” Ekeoma said.
