The Ekiti State government has announced that the state generates over 50 billion naira in Internally Generated Revenue (IGR) annually, a milestone coinciding with its 30th anniversary. In a statement marking the occasion, the administration highlighted its financial stability, noting that the state consistently meets its payroll obligations by paying workers’ salaries on time.
Beyond revenue generation, the state government detailed significant progress in economic diversification. Officials stated that Ekiti’s reliance on agriculture has decreased substantially over the last two decades, falling from approximately 80 percent in 2005 to 40 percent in 2017. This shift reflects a broader strategy to broaden the state’s economic base beyond its traditional agricultural sector.
The announcement serves as a key highlight of the state’s 30-year journey, emphasizing fiscal responsibility and structural economic changes. By reducing dependence on a single sector, the government aims to create a more resilient economy capable of sustaining public services and infrastructure development.
While the source material does not specify the exact current date of the announcement, the figures provided illustrate a long-term trend of economic transformation. The reduction in agricultural dependence by half over a twelve-year period underscores the state’s efforts to integrate other industries into its economic framework.
These developments mark a significant chapter in Ekiti’s history as it reaches its third decade of existence. The combination of robust IGR and a diversified economy positions the state to continue addressing public welfare needs, including the timely remuneration of its workforce.
<small>Source: Premium Times Nigeria — read the original story there.</small>
