Obaseki sets a N60 billion IGR target for the fiscal year 2023.

Edo Gov. Godwin Obaseki set an Internally Generated Revenue (IGR) target of N60 billion for the state’s fiscal year 2023 on Friday.

Obaseki made the announcement during the sixth annual Alaghodaro Investment Summit in Benin.

According to the News Agency of Nigeria NAN, the summit is held each year to commemorate Obaseki’s first year in office and to highlight the state’s progress toward transformation.

Edo’s Transformation: Partnerships, Resilience, Impact was the event’s theme.

He stated that the increase would result from exploring opportunities to drive development in culture, forestry, manufacturing, agriculture, and technology.

“In the last six years, things have not been easy, but we have tried in our own little way. You can see that from 2016 when we got in, we tried to increase Internally Generated Revenue (IGR).

“Except for the COVID-19 year, we sustained an increase in our IGR and we hope to end next year with over N60 billion IGR.

“We see growth ahead of us and this growth is going to come from certain endowments that we have which most people do not have.

“Our culture, people must come and see us and admire what our forebearers built and our forestry assets, the world is talking about net zero carbon and we have something to contribute to the environment and environmental economy.

“Manufacturing is the way to go. Edo has the largest onshore gas reserve in Nigeria with most of our gas are in the swamps and the offshore.

“With that energy source, there’s no reason we cannot generate enough energy to attract investors to drive industrialisation.

“Agriculture, that’s what we grew up with. Of our 19 million square km of land, there’s practically no way we cannot grow something.

” For us, the future is technology, because the world is talking about technology and that is the new area of focus,” Obaseki said.

As a result, the governor emphasized the importance of Nigeria shifting its economy from consumption to production.

Despite all of the challenges that the country faces, he claims that Nigeria has over 200 million people who will grow to 450 million by 2050 and will not stop consuming.

In his welcome address, Asue Ighodalo, Chairman of the Board of Alaghodaro Limited, stated that the summit would provide opportunities for key stakeholders and the private sector to determine how to navigate the nation’s economic challenges. (NAN)

For more update, visit dailygam.com.