Adekanmbi Questions Alli’s ₦150BN IGR Projection, Serks Tax-Free Revenue Plan

…Says Oyo residents deserve economic answers, not campaign figures without supporting evidence.

The governorship candidate of the Allied Peoples’ Movement (APM) in Oyo State, Hon. Bimbo Adekanmbi, has challenged Senator Sharafadeen Alli to provide a detailed economic roadmap explaining how he intends to raise the state’s Internally Generated Revenue (IGR) to ₦150 billion annually.

Adekanmbi, in a statement by the Co-Director, Media and Publicity of the Oyo State APM Campaign Council, Dr Sulaimon Olanrewaju, questioned the assumptions and economic projections behind Alli’s promise, insisting that the people deserve more than campaign figures without verifiable implementation plans.

He particularly challenged the APC governorship candidate to explain how the proposed revenue target would be achieved without imposing additional taxes, levies, fees and charges on residents, traders and business owners already grappling with economic challenges.

The APM candidate, a Chartered Accountant and Fellow of the Association of Chartered Certified Accountants, FCCA, argued that sustainable revenue growth should be driven by economic expansion, improved tax compliance, investment promotion and the elimination of revenue leakages rather than increasing the financial burden on citizens.

Citing the performance of Governor Seyi Makinde’s administration, Adekanmbi noted that Oyo State’s monthly IGR had increased from approximately ₦1.7 billion in 2019 to about ₦8.7 billion, while annual revenue rose from ₦51.25 billion in 2023 to ₦65.29 billion in 2024 and ₦103.2 billion in 2025.

He added that the state generated ₦55.3 billion in the first six months of 2026, expressing confidence that the administration was on course to achieve its projected ₦110 billion annual revenue target.

Adekanmbi maintained that the revenue growth recorded under the Makinde administration was achieved through deliberate reforms, technological innovation, improved revenue administration and economic expansion, without introducing additional punitive taxes on small businesses and ordinary residents.

He consequently asked Alli to identify the economic sectors, investment opportunities and revenue sources expected to generate the additional ₦50 billion required to move the state’s IGR from its current level to the proposed ₦150 billion.

The APM candidate described the questions as matters of public accountability rather than partisan politics, insisting that voters deserved to know the economic assumptions and implementation strategies behind the projection.

He further argued that while the Makinde administration could point to measurable revenue growth, Alli was yet to provide publicly available data or a verifiable implementation framework to support his ₦150 billion target.

Adekanmbi, however, pledged to sustain and improve on the state’s existing revenue reforms if elected governor, describing Alli’s projection as a promise that must be supported by facts, figures and a credible economic plan.

The statement concluded that Oyo residents deserved evidence-based economic policies rather than attractive campaign promises, urging the APC candidate to demonstrate how his proposed revenue target would translate into improved economic opportunities without placing additional financial pressure on the people.