Delta revenue hits ₦200bn, RMAFC hails diversification drive

Delta State has achieved a remarkable increase in its Internally Generated Revenue (IGR), soaring from about ₦84 billion in 2023 to over ₦200 billion, representing a growth of more than 138 percent. This significant financial expansion is credited to strategic reforms and robust economic diversification initiatives implemented under Governor Sheriff Oborevwori’s MORE Agenda.

The state government announced this achievement following an assessment visit by a delegation from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). The commission was evaluating the state's economic diversification and revenue generation strategies. This surge in IGR highlights a broader trend among subnational governments in Nigeria to enhance their revenue streams and reduce reliance on federal allocations.

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Delta State has grown its Internally Generated Revenue (IGR) from about ₦84 billion in 2023 to over ₦200 billion, a remarkable increase of more than 138%, driven by strategic reforms and economic diversification under Governor Sheriff Oborevwori’s MORE Agenda.

During the visit to the state capital, Asaba, the RMAFC delegation lauded Delta State's deliberate investments in agriculture, industrialization, innovation, and other non-oil sectors. They described the state's diversification drive as an exemplary model for building a resilient economy and fostering sustainable long-term growth.

Governor Oborevwori’s MORE Agenda, an acronym for Meaningful Development, Opportunities for All, Realistic Reforms, and Enhanced Peace and Security, prioritizes infrastructure development, economic growth, human capital development, and improved governance. Since assuming office in May 2023, the administration has consistently focused on economic diversification as a key strategy to strengthen the state's finances and lessen its dependence on volatile oil revenues.

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During the visit, the Commission commended Delta State’s deliberate investments in agriculture, industrialisation, innovation and other non-oil sectors, describing the state’s diversification drive as a model for building a resilient economy and achieving sustainable long-term growth.