Ogun investment ministry generates N685.5m in 10 months

 Mrs Kikelomo Longe, the Ogun Commissioner for Industry, Trade and Investment, has said the ministry generated N685.5million in revenue for the state government between January and October 2021.

Longe said this on Wednesday in Abeokuta while defending the 2022 budget proposal of the ministry before members of Ogun House of Assembly Committee on Finance and Appropriation.

The commissioner also said the revenue was generated from road haulage, registration of business premises and inspection fees.

She said the ministry proposed to generate the sum of N1.8 billion as revenue in 2022.

Longe said the ministry had earmarked N534.5 million as its recurrent expenditure in 2022 while capital expenditure was estimated at N504.9 million, saying that the total expenditure had been projected to N1.039 billion.

The commissioner said the ministry would re-evaluate internally generated revenue streams to improve revenue generation.

“We are also going to promote entrepreneurship and all-around development of Medium, Small, scale enterprises,” she said.

Longe said the state government would continue to create a favorable environment for industrial, commercial and other investment activities to thrive in the state. (NAN)