In ten years, Osun State’s IGR rose nearly fivefold to ₦54.7b in 2024, driven by a great 97% leap from 2023

Key Takeaways

  • Osun’s Internally Generated Revenue (IGR) grew from ₦11.78b in 2015 to ₦54.70b in 2024, marking a 364% increase.
  • The state maintained steady annual growth after 2017, with notable acceleration from 2020 onward.
  • The single biggest leap occurred between 2023 and 2024, with revenue nearly doubling from ₦27.72b to ₦54.70b.
  • The upward trend reflects improved tax collection, diversification of revenue sources, and stronger fiscal policies.

Between 2015 and 2024, Osun State’s Internally Generated Revenue (IGR) showed remarkable growth, climbing from ₦11.78 billion to ₦54.70 billion. The state experienced modest increases between 2015 and 2017, but revenue began to accelerate in 2018, crossing ₦15 billion and steadily rising through the pandemic years to ₦21.86 billion by 2021.

By 2022, Osun had grown its IGR to ₦24.47 billion, followed by ₦27.72 billion in 2023. However, the most significant milestone came in 2024, when IGR more than doubled to ₦54.70 billion, signalling a major shift in revenue generation capacity. This dramatic growth suggests improved fiscal management, stronger tax reforms, and greater economic activity within the state.

Source:

Osun State Govt, National Bureau of Statistics

Period:

2015 - 2024
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