As part of efforts geared towards increasing internally generated revenue accruable to Government coffers, the Ogun State Ministry of Commerce and Industry is targeting the sum of N4.2billion as revenue in the 2016 fiscal year.
The Commissioner in charge of the Ministry, Otunba Bimbo Ashiru disclosed this when he appeared before the Ogun State House of Assembly Committee on Finance and Appropriation to defend the Ministry’s proposed budget.
Otunba Ashiru explained that the sum would be generated if necessary equipment are provided and adequate measures taken to enable the Ministry carry out its duty effectively.
According to him, in the 2016 fiscal year, a total sum of N962million would be expended with over N647million to be spent on capital expenditure and over N315million for recurrent expenditure.
He said the sum of N83million would be utilized in establishing additional zonal offices at Odogbolu and Owode Yewa,while the sum of N10million was earmarked for the conduct of survey to prepare mineral Map of the State and N5million has been set aside to establish a quality control laboratory in the geological department to maintain the standard and quality of product from solid minerals.
Ashiru assured that the Ministry would continue to work assiduously towards ensuring that favourable industrial and commercial climate were created for investment to thrive.
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