Based on an independent SWOT analysis (Strength, weakness, opportunities, and threats) matrix used to measure internally generated revenue (IGR) records and performance for 2023, The Revenue Magazine, on Monday, November 25, 2024, bestowed an award of excellence on Edo State Internal Revenue Service, EIRS.
Presenting the Excellence in IGR Award 2024 and the Achievement in IGR Award 2024 to EIRS, the Chief Executive Officer and Publisher of The Revenue Magazine, Mr. Frederick Apeji stated that the EIRS maintained the 5th position in IGR rankings of states in the Federation (6th when Abuja is included) and consistently remained amongst the top ten states.
Mr. Apeji affirmed, “In the last twelve years, Edo has maintained a consistent trend and remained one of the top ten states as far as IGR is concerned.
“When compared to other states in the ranking, Edo shows to be doing something different because it doesn’t have the numerous industries that other States in the South-South regions have.
“This trend and feat achieved by Edo should be sustained and l congratulate the EIRS management for it.”
Receiving the award on behalf of EIRS, flanked by management staff, the Secretary, Revenue Service, (SRS), Mrs Sadat Abu appreciated the Revenue Magazine team for the recognition.
She observed, “The records are not fictional but a reality. They are genuine because they are from the Joint Tax Board (JTB) and the National Bureau of Statistics (NBS).
“The Award received today is dedicated to the entire EIRS Staff who made it possible, a morale booster that will spur us to do more and even surpass our current target.”
In hindsight during its Q3 performance evaluation report for 2024, the EIRS gave a year-on-year report of generated revenue for nine consecutive financial years which showed how IGR collection grew from N23.64bn in 2016 to N27.19bn in 2017. This figure grew to N29.62bn in 2018 and N35.2bn in 2019. Due to the effect of COVID-19, the IGR performance reduced to N28.02bn for year 2020. By 2021, IGR peaked at N38.67bn. In 2022 figures stood at N45.06bn and rose to N62.08bn in 2023.
As at September, 2024, (Q3), N67.29bn was recorded as against N55.64bn Year-to-Date IGR budget of 2024. With an average of N7bn generated monthly.
