Governor Ademola Adeleke's reforms in Osun State have indeed brought significant positive changes to the state's financial system_IMG_1754054098336.jpg. His strategic focus on fiscal and institutional reforms, such as tax harmonization and digitization of revenue collection, have played a crucial role in boosting the state's Internally Generated Revenue (IGR). The impressive 97.31% increase in IGR from N27.72bn in 2023 to N54.7bn in 2024 is a clear testament to the effectiveness of these measures.
The growth in IGR without increasing taxes is particularly noteworthy as it demonstrates efficient revenue generation and fiscal prudence. This has undoubtedly enhanced the state's capacity to fund essential projects and services, thereby improving the socioeconomic wellbeing of its citizens. The increased revenue also reduces Osun State's reliance on federal allocations, which is a critical step towards fiscal autonomy and sustainable development.
The investment in human capital and infrastructure is equally important. By prioritizing education, healthcare, and other social sectors, Governor Adeleke's administration is not only addressing the immediate needs of the people but also laying the foundation for long-term economic growth and productivity. The enhancement of human capital will lead to a more skilled workforce, capable of driving innovation and attracting investments to the state.
Moreover, the enforcement of fiscal discipline is vital in ensuring that the state's resources are used judiciously and that the benefits of increased revenue are felt across the board. It is commendable that the Adeleke-led government has managed to achieve this milestone while maintaining transparency and accountability in financial governance.
The success of these reforms can be attributed to a combination of effective leadership, sound economic policies, and the collective efforts of the state's workforce and citizens. As Osun State continues on this trajectory, it is likely to serve as a benchmark for other states in Nigeria seeking to improve their financial management and achieve fiscal independence. This remarkable performance underscores the importance of good governance and strategic planning in transforming the economic fortunes of subnational entities.
Ibrahim Sarafa reporting