Delta State Targets N200bn IGR by 2026 Through Diversification

Delta State's Commission for Economic Planning, Mr. Sunni Ekedayen, announced plans to raise the state's Internally Generated Revenue (IGR) from N84 billion in 2023 to N200 billion by 2026, marking a 138% increase.

This disclosure was made during a visit by a delegation from the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) to assess the state's economic diversification efforts. Governor Sheriff Oborevwori's administration is focused on diversifying the economy beyond oil, emphasizing investments in agriculture and industrialization.

The growth in revenue is attributed to improved tax administration, expanded tax net, and enhanced compliance without increasing personal income tax. Additionally, plans are underway to energize the Kwale Industrial Park to attract investors and revive maritime activities in collaboration with the federal government at the Warri Forcados Port.

RMAFC representatives praised the state's commitment to economic diversification, aligning with President Bola Tinubu's Renewed Hope agenda.