Enugu gov confident of ambitious N600bn IGR target
Governor Peter Mbah of Enugu State has conveyed his optimism that his administration is on track to meet its ambitious N600 billion Internally Generated Revenue target by 2025.
He emphasized that achieving this goal is vital for funding essential development projects intended to enhance infrastructure, stimulate economic growth, and elevate the living standards of residents throughout the state.
Mbah made this statement during his inauguration as President of the Enugu Sports Club on Saturday night.
Mbah reiterated that his administration is purposefully moving away from dependence on federal funding.
He mentioned that his administration is dedicated to enhancing domestic revenue generation through strategic reforms in tax administration, promoting investment, and expanding critical economic sectors to support sustainable development across the state.
“When we assumed office, the state’s IGR was approximately N25 billion. Our projected IGR for this year is N600 billion, and based on the data we are observing, we are not only going to achieve this target but exceed it. This increase in revenue allows us to make substantial investments across various sectors, including education and healthcare,” Mbah remarked.
Reflecting on his administration’s ambitious objective to escalate Enugu’s economy from $4.4 billion to $30 billion, Governor Mbah recognized that the vision was initially met with considerable doubt.
At that time, the prevailing analysis did not align with such a growth expectation. Reaching this target necessitates a compounded annual growth rate of 27 percent, and many questioned the feasibility of achieving that,” he pointed out.
Nevertheless, he asserted that through intentional policies and strategic investments, the state is making steady progress toward that aim.
As part of efforts to attain its $30 billion GDP target, Enugu State has also achieved notable advancements in the agricultural sector.
In February, the state government, in collaboration with WhiteRabbit Agro Limited, initiated a 20-hectare pilot cocoa plantation in Nkanu East Local Government Area, designed to promote large-scale cocoa production and processing.
The Commissioner for Agriculture and Agro-Industrialisation, Mr. Patrick Ubru, shared this information.
“Our partner in this project is already cultivating 100,000 high-yielding and early-producing cocoa varieties sourced from the Cocoa Research Institute of Nigeria (CRIN, Ibadan).
“This initiative presents an opportunity for Enugu residents to engage in agro-business, generate income, and contribute to the state’s economic development,” he added.
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