Ohafia LGA’s Economic Renaissance: Harnessing Local Resources for Revenue Expansion
Abia State’s Ohafia LGA Internally Generated Revenue (IGR) data 2021 was not readily available at the time of preparing this report, however this discussion must be brought to the front burner. Let’s provide some insights on Nigeria’s IGR for that period.
In the first half of 2021, Nigeria’s 36 states and the FCT generated N849,123,384,003.55 in IGR, with a 13.21% growth from the first to the second quarter. Lagos State led with N267,232,774,434.06, followed by FCT and Rivers State. The South-West zone had the highest revenue, while the North-East zone had the lowest.
Internally Generated Revenue (IGR) by Zone (H1 2021)
- South-West Zone: N385,414,274,922.27
- South-South Zone: N156,171,326,501.04
- North-East Zone: N42,915,002,928.39 ¹
Top 3 States by IGR (H1 2021)
- Lagos State: N267,232,774,434.06
- FCT: N69,072,879,664.43
- Rivers State: N57,324,672,372.42
To boost Ohafia Local Government’s economic activities, several strategies are being designed by the Mayor and his team:
- Agricultural Development: Ohafia LGA is known for its rich agricultural land, producing yam, cassava, melon, and vegetables in significant amounts. Investing in agricultural programs, providing support to farmers, and establishing agricultural cooperatives can increase productivity and revenue.
- Market Development: The LGA boosts of Economic actors whose footprints in various central markets, have established themselves as hubs for trade in Ohafia LGA. Therefore upgrading market infrastructure, improving sanitation, and enhancing security, Hon. Chief Kalu reckons that it can attract more traders and customers, increasing revenue.
- Tourism: Ohafia LGA’s rich cultural heritage, including the famed Abiriba and Ohafia warrior tradition and the leopard cap, can be showcased through tourism initiatives. Developing tourist attractions, organizing cultural festivals, and promoting local crafts can generate revenue.
- Industrial Development: Ohafia LGA can leverage its natural resources, such as limestone, clay, and salt, to establish industries. Encouraging entrepreneurship, providing infrastructure, and investing in skills development can drive industrial growth.
- Taxation and Revenue Collection: Effective taxation and revenue collection systems can ensure that existing revenue streams are optimized. This includes streamlining tax payment processes, reducing evasion, and improving transparency.
By implementing these strategies, the Mayor believes Ohafia Local Government can increase its economic footprints, contributing to Abia State’s overall revenue growth.
Dr Chukwuemeka Ifegwu Eke writes from the University of Abuja Nigeria
