When Governor Ademola Adeleke of Osun State assumed office as the fifth Executive Governor of Osun State, one of his first actions is to embark on fiscal and institutional reforms aimed at re-engineering the financial system of the state.
Through the introduction of tax harmonization system and digitization of revenue collection; blockage of revenue leakages; expansion of revenue sources and enforcing compliance, the administration of Governor Adeleke laid a solid foundation that will propel Osun to the path of fiscal independence.
Implementation of these reforms resulted in increased revenue as Osun State recorded #27.72bn Internally Generated Revenue (IGR) in Governor Adeleke’s first full year in office in 2023, up from #24.47bn he inherited in 2023.
In 2024, Osun State recorded an extraordinary leap in IGR figure from N27.72bn in 2023 to N54.7bn in 2024, representing a 97.31% increase.
This surge signals aggressive implementation and strengthening of regulatory frameworks which have greatly enhanced transparency and accountability in revenue management without increasing taxes, thereby boosting confidence in state financial governance.
With increased IGR, Osun State is better positioned to fund capital projects, reduce dependence on federal allocations, and cushion the impact of economic shocks. By ensuring continuous investment in human capital, infrastructure, and enforcement of fiscal discipline, Governor Adeleke is setting a model that will keep Osun State on the path of fiscal independence.
