In the recent data released by the Federation Accounts Allocation Committee (FAAC) on the VAT generated and allocated between January to August 2021, Oyo Truth commend the leadership qualities of His Excellency, Governor Seyi Makinde of Oyo State.

According to the report, Oyo State ranked 3rd in generation of Value Added Tax (VAT) otherwise known as Sales Tax – a consumption tax paid when goods are purchased and services rendered within the country.

The astronomical increase in VAT generated within the short period could be attributed to good Governance – accountability, transparency, equity, efficiency and effectiveness being witnessed in Oyo State.

The litmus test of great leadership is results that matters. Before Gov. Makinde’s assumption of office in 2019, revenue generation in Oyo State was nothing to write home about owing to bad policies and reforms by the past administrations in the State.

In comparison, during the previous administration of Gov. Ajimobi, the State generated ₦22.45b in 2017 and ₦24.64b in 2018, while in the current administration under the dynamic leadership of Gov Seyi Makinde, the State generated ₦26.45b in 2019 and ₦38.04b in 2020. This figure shows that the State’s IGR rapid economic growth of 42 percent, about ₦12 billion more than what was recorded in 2019. The arising affluence between 2019 and 2020 financial year were not accidental but the deliberate result of GSM good financial management and efficacious leadership.

As a successful business magnate, His Excellency, Governor Seyi Makinde swung into action immediately after taking mantle of leadership by creating an enabling environment for businesses to thrive.

Governor Makinde created a strong financial framework policy, removed some bureaucracies and bottlenecks capable of discouraging the investors including the manufacturers in Oyo State thereby resulting into increased revenue generation without burden.

As good Governance is not a rocket science, accountability and transparency play a big role. Gov Makinde is not afraid to apply political will and create firm economic reform policies that benefits investors including the small and medium scale enterprises in the State.

As a result of the friendly policies, business owners are willing to pay more taxes than ever as Governor Makinde led administration has demonstrated what it takes to be accountable to the people.

The good people of Oyo State has seen the commitment and sincerity of purpose in Gov. Makinde’s handling of the economy in the State.

It is generally believed that infrastructure is critical for any sustainable economy. Governor Makinde devoted resources to cultivate Infrastructural development projects that contributes to the surge in revenue generation in the State.

Gov. Makinde as a reformer and visionary leader realised that making the process easier for businesses to succeed means that when investors operates without difficulties, they will perform their civic duties which includes remittance of adequate taxes to the Government and investing more in State.

With the report made available for the public, Governor Makinde has justified the confidence the good people of Oyo State has reposed in him to lead the State out of poverty to prosperity.

Indeed, increased in VAT generation is another attestation to the fact that Oyo State is in capable hands. This achievement going by the current statistics marks a new beginning of good things to come in the State.

On the positive side, Governor Makinde has created a great revenue system by putting the right pegs in the right hole for collection of VAT. This system promotes inclusiveness, encourages good governance, improves accountability of Government to the people of the State which in turn attract private investors.

Within two years in office, it is obvious that Governor Seyi Makinde has kept his promise of economic growth and public management by reducing Government overhead costs, tax evasion, and curb corruption so as to generate sufficient resources to run the State without taxing its citizens.

By extending the scope and improving Governance structure of tax collection in the State, more revenue will be generated and invested in development to relieve poverty, and deliver services for the benefit of the general public.