May 19, 2024

Kwara achieves 112% IGR growth in 2022, generates record N35.4bn

0

Kwara State Internal Revenue Service (KW-IRS) generated a total sum of N35,445,846,058.06 in 2022, the highest revenue ever generated in one year by the agency since its establishment in 2016.
The record-breaker figure represents 112% of the agency’s IGR target for the year 2022  and it far surpassed the agency’s N26.96bn generated in 2021.


According to the yearly IGR figures  posted on the agency’s website, the quarterly breakdown of the N35,445,846,058.06 showed that  N10,726,397,076.16 was earned in the first quarter, while it raked in N7,302,964,989.48 in the second quarter.
In quarter three, the agency generated N6,354,070,089.09, while N11,062,413,903.33 was earned in the fourth quarter.


Commenting on the latest achievement of the revenue agency, the Executive Chairman, KW-IRS, Mrs. Shade Omoniyi, attributed the rise in the state IGR to certain strategic measures taken by the management of the agency to  increase its efficiency.


She disclosed that some of the measures included blockage of leakages through the deployment of information and communication technology infrastructure and systems, increased productivity among staff through improved welfare packages, heavy cut in consultancy charges, expansion of the tax net without new charges, and introduction of new technologies that make tax payment easier for the people, among others


Mrs. Omoniyi noted that Kwara State, like many other states of the federation, was gradually on rebound from the economic meltdown and constraints imposed by the Covid-19  and the resulting lockdowns of 2020.

Leave a Reply