The Osun state government, South-West Nigeria, says it has recorded 120 percent increase in Internally Generated Revenue (IGR) from forestry, raking in N22 million in March as against N10 million in January.
Prof. Bayonle Olorede, the Chairman of the State Committee on Forestry, disclosed this during the presentation of the committee’s report to Governor Gboyega Oyetola in Osogbo, the state capital.
Olorede said that the increase in IGR was due to the efforts of the committee in blocking leakages in the Forestry Department.
He said that the committee came up with 17 recommendations, which if implemented, would assist the state to actualize its set objectives in the forestry sub-sector.
Describing forestry as a critical revenue generation sector, Olorede commended the Governor for working assiduously to improve the revenue base of the state.
His words: “We are happy to inform the Governor that the state’s revenue on forestry had increased with over 100 percent.
“The revenue rose from N10million to N22.5million between January 2019 and March 2019, showing a tremendous improvement in the revenue base of the state, compared to what was recorded in 2018.’’
In his remarks, Oyetola expressed delight with the performance of the committee.
He said that the committee was inaugurated to sanitize the sector, block leakages and promote efficiency and accountability.
Oyetola said his administration remained resolute to bring out the best in all sectors in order to boost the revenue profile of the state.