Politics
Breaking News: In 11 Months, Ondo Secures N900 Million Funding From Motorbike And Tricycle Operators
Breaking News: In 11 Months, Ondo Secures N900 Million Funding From Motorbike And Tricycle Operators....KINDLY READ THE FULL STORY HERE▶
The Ondo State Government has announced the successful generation of N900 million from the sale of tickets to commercial motorcyclists and tricyclists across the state. The Chairman of the state Internal Revenue Service, Mr Tolu Adegbie, revealed this information during the 2023 raffle draw ceremony for commercial motorcycle and tricycle operators held in Akure on Monday.
Adegbie expressed the government’s initial target of surpassing N1 billion in revenue before the end of December 2023. However, he acknowledged a revenue shortfall compared to the previous year, attributing it to various factors such as the naira scarcity issue early in the year and the removal of fuel subsidy.
He stated, “A sum of N900 million has been generated compared to last year. I mean from January to November, we’ve generated about N900 million. Meanwhile, this time last year, January to November, we had done N1 billion. This is for motorcycles and tricycles, but the bulk is from motorcycles. For the tricycle, they are doing roughly about N250 – N350 million, which is not much. That is why we are giving out more gifts to the motorcyclists. We’ve charged the tricycle owners, even fewer in number, to increase their performance.”
Despite the shortfall, Adegbie expressed optimism that the revenue from motorcycle and tricycle owners would surpass N1 billion by the end of December. Doyin Odebowale, the Special Adviser to Governor Rotimi Akeredolu on Special Duty and Strategy, highlighted the significant improvement in revenue generation from commercial motorcyclists since the current administration took office. In 2018, the Akeredolu administration was able to raise N350 million, a considerable increase from the initial monthly figure of N400,000 in 2017.
During the event, the Ondo State Internal Revenue Service (ODIRS) distributed various items, including motorcycles and bags of rice, to operators as a gesture of appreciation for their dedication.
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Source; Bushradiogist
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