Olivia Davis
Sun, Sep 10, 2023 5:00 PM

Kwara State Internal Revenue Service Generates Record N35.4 Billion Revenue in 2022

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Kwara State Internal Revenue Service Generates Record N35.4 Billion Revenue in 2022
Kwara State Internal Revenue Service (KW-IRS) has achieved a significant milestone by generating a record N35.4 billion revenue in 2022, surpassing their Internal Revenue Generation (IGR) budget by 112 percent. This impressive growth reflects the successful implementation of innovative strategies and the dedication of KW-IRS staff. The executive chairman, Mrs. Shade Omoniyi, expresses her gratitude to Governor Abdulrahman Abdulrazaq and all stakeholders for their support. KW-IRS also emphasizes its commitment to corporate social responsibility through its Community Impact Programmes (CIPs), aimed at enhancing revenue drive and generation in the state.

The Kwara State Internal Revenue Service (KW-IRS) has achieved a remarkable fiscal success by generating a record N35.4 billion revenue in 2022. This figure exceeds the Internal Revenue Generation (IGR) budget for the year by an impressive 112 percent. The executive chairman of KW-IRS, Mrs. Shade Omoniyi, shared this great news during a recent event in Ilorin, the state capital.

Mrs. Omoniyi highlighted the significant progress made by KW-IRS, surpassing the 95.5 percent revenue achieved in 2021. She attributed this success to the opportunity and support given by Governor Abdulrahman Abdulrazaq to explore innovative approaches to revenue generation.

In her address, Mrs. Omoniyi expressed her appreciation to all taxpayers and stakeholders who have played a crucial role in supporting KW-IRS's seamless tax administration processes. Their contribution and cooperation have been instrumental in the agency's ability to achieve this remarkable milestone.

The executive chairman also commended the dedicated staff of KW-IRS, urging them to remain focused, dedicated, and continue working tirelessly to meet set targets. Embracing innovation is highlighted as a crucial factor for achieving further success in revenue administration across the state.

As part of its corporate social responsibility, KW-IRS has implemented various Community Impact Programmes (CIPs) aimed at making strategic interventions to enhance revenue drive and generation. These programs cover what KW-IRS refers to as the "six Es" – Economy, Education, Environment, Empowerment, Entertainment, and Employment.

The CIPs demonstrate KW-IRS's commitment to giving back to the community and utilizing its revenue-generating capabilities to create a positive impact beyond the tax system. It aligns with the agency's vision of contributing to the overall development and welfare of the people of Kwara State.

The revenue generated by KW-IRS will undoubtedly have a significant impact on the state's developmental projects, infrastructure development, and the overall socioeconomic well-being of the people. It showcases the potential for effective revenue generation through strategic planning, innovative approaches, and a collaborative effort from all stakeholders.

Indeed, the achievement of KW-IRS in surpassing its revenue targets demonstrates the effectiveness of proactive revenue administration. It sets an inspiring example that other states and revenue agencies can emulate.

Source of content: OOO News 2023-09-10 News

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