June 23, 2024
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Obaseki reforms: Edo IGR grows by N17bn in 2023, hits N62bn _…figures reflect over 40 percent growth from 2022, driven by formal sector_ _…EIRS boss links revenue growth to gov’s investment drive, others_

Despite challenging economic crisis fuelled by the removal of fuel subsidy, Edo State Internally Generated Revenue (IGR) grew by over 40 percent in 2023, recording N17bn increase from the N45bn generated in 2022. The Chairman, Edo Taskforce on Internally Generated Revenue, Hon. John Osagie Inegbedion, disclosed this at a press briefing after the 2024 EIRS Management Performance Review (MPR), in Benin City, the Edo State capital. Inegbedion said the 2023 IGR, driven by the State’s formal sector, stood at N62billion, noting that the N17bn growth by Edo State in 2023 accounts for the combined revenue generation performance for 12 States in 2022.

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