Governor Seyi Makinde’s Achievements in the Economy
Governor Seyi Makinde’s administration has for the third year in a row, prioritised growing the economy of Oyo State to move the people from poverty to prosperity. With agribusiness as the major driver of the economy, Oyo State has attracted private investments of over N27 billion in agribusiness alone over the past three years.
The Oyo State Government continues to invest in infrastructure development to keep up with the growing population. This is creating jobs in both the formal and informal sectors. In addition, the Governor Seyi Makinde-led administration has injected funds into the Oyo State economy by regularly and consistently paying the salaries of Oyo State workers and pensioners. It is therefore unsurprising that a United Nations Human Settlements Programme (UN-Habitat) research ranked Ibadan as the second fastest growing city in Africa citing industrialisation, urbanisation, and economic activities as reasons for the growth.
Please read all about Governor Seyi Makinde’s achievements in the economy as we track his campaign promises in the agribusiness and finance sectors using the Roadmap to Accelerated Development in Oyo State, 2019-2023. You can read his second-year achievements in the economy here. You can also read about all the three years in office ongoing and completed projects here
Ensure safe, adequate and efficient transport infrastructure that can sustain the social and economic development of the state.
In the past one year, the Governor Seyi Makinde led administration has embarked on the following projects to ensure safe, adequate and efficient infrastructure in the state:
- The construction of four modern bus terminals strategically located at exits and entrance of Ibadan; Iwo Road, New Ife Road, Challenge and Ojoo to serve intracity and intercity commuting. Two of the bus terminals located at Challenge and Ojoo have been completed while the other two are ongoing.
- Construction of new roads and reconstruction/rehabilitation of existing roads and bridges across the state.
- Installation of traffic lights at major intersections in Ibadan.
- Construction of computerized VIS Centre at Idi-Ape completed.
- Continuous registration of all public commercial vehicles (mini buses, tricycles and motorcycles) carrying passengers in the state.
Evolve a robust institutional and regulatory framework for the transport sector
The Transport Operations Department established by the Governor Seyi Makinde led administration in 2019 continues to formulate transport policies and manage the transport sector in synergy with other transport stakeholders.
Provide a steady and innovative financing scheme for the transport sector in Oyo State.
The innovative financing scheme – the Alternative Project Funding Approach (APFA) for funding infrastructure projects in Oyo State which was established during the current administration’s second year in office continues to be used to fund critical infrastructure projects. During the third year in office, two additional road projects were added to those being funded under APFA:
- 34.85km Oyo-Iseyin Road reconstruction project.
- 4.15km BCJ-Railway-Gbekuba-NIHORT Junction, Ibadan reconstruction project.
- Establish a consultative forum for constant interaction among all stakeholders in the transport industry, including private sector concerns and MDAs.
The Department of Transport Operations in collaboration with the office of Governor Seyi Makinde’s Special Adviser on Works and Infrastructure, organised stakeholders’ meetings on mitigating traffic congestion on state roads especially in Ibadan.
The Transport Operations Department also holds regular meetings with transport unions, public and private transport operators and revenue consultants.
Financial Decisions that Stimulate the Oyo State Economy
1. No increase in tax or rates
Taxes and rates were not increased in the past one year.
2. Broadening the Existing Tax Base
The existing tax base has been broadened in the past one year through a more robust database giving information on untapped areas on both tax and non-tax collection.
3. Providing business support and information, particularly to SMEs
This Oyo State Government has in the past one year provided support for SMEs:
- 1Billion Post COVID-19 Stimulus Package for SMEs.
- Quarterly Clinics for SMEs where they were taught rudiment of how to write business proposals and attract funding from both local and international donors.
- MSME Development Fund in collaboration with Bank of Industry (BOI) through which business owners can get loan/finance for their businesses.
- Establishment of One Stop Shop Investment Centre where problems and issues affecting MSMEs are being resolved in one place.
- Peer learning amongst MSMEs. MSMEs are being sent to other states to exchange ideas on how to improve on their trades.
4. Better collection of property taxes.
Property taxes in the state has improved tremendously as the process is now being supported by a newly developed online digital payment platform tagged “pay.lands.oyostate.gov.ng”.
5. Reorganisation of Board of Internal Revenue
Achieved during the first and second years in office.
6. Introduce an online payment system to reduce the difficult nature of paper services. Payment platforms can be designed for each agency where the forms are filled and payment made using electronic means. The payee receives email/text messages confirming the payment. In addition, the date for the collection of titles or documents is then communicated by email.
The Oyo State Government has introduced an electronic payment platform such that human interference with revenue has been reduced to the barest minimum and leakages reduced as well.
7. There is a need to enact a law that requires all contracts to pass through the Board of Internal Revenue Service so that all individuals, households and agencies comply with the withholding tax requirement in the State.
This has not been achieved.
8. Enhance the automation of collection through Billing Application software. The Payment Alert will not only alert the system, but it also becomes difficult to tamper with it. Furthermore, an enhanced automation drive system will be designed for the BIRS offices. The BIRS offices will be adequately computerised and an automated and fully integrated tax administration system would be established.
The initiative which commenced during the second year in office is still at infancy stage. The government’s Lead Consultants on both formal and informal sectors are working assiduously to achieve this promise.
9. An audit of major companies in Oyo State will be done to ensure that they pay tax. Working in collaboration with the State Board of Internal Revenue, seasoned revenue enhancement professionals armed with documented intelligence information can negotiate and recover tax arrears to the coffers of the State.
The audits of the major companies are yet to be done; the Board of Internal Revenue is working hard to ensure this is achieved this year.
10. The Oyo State Board of Internal Revenue Service will carry out a rigorous sensitisation of the public on the need to pay their taxes.
The Oyo State Government through the Board of Internal Revenue has greatly increased the rate of sensitising the citizenry on the need to pay their taxes through jingles (in English and mother languages), publicity and various media.
11. Implement the approved list of taxes and levies which each tier of government can collect as an effort made towards addressing the menace to increase taxpayer compliance.
The Oyo State Government has inaugurated the Joint Revenue Committee consisting of both tiers of government (state and local government) to iron out the revenue generation process and who gets what so as to ensure taxpayers are not double taxed.
12. Proper funding and training of tax officials.
The Oyo State Government continues to train and retrain public officers (tax officials inclusive) in the state even in the face of dwindling income.
13. Set up a review committee to review government rates and levies
The Oyo State Government in collaboration with other stakeholders in the state is working on the modalities to ensure the citizenry are not unnecessarily belaboured by taxes and fairness is also achieved.
14. Effective collection of Public Utility Service Charge
A new waste management consultant has been appointed to implement an improved tariff and collection rate for waste management. The collaboration between the Board of Internal Revenue and the Oyo State Water Corporation to improve their water rate collection is ongoing. This contributes to improvement in public utility service charges.