The gubernatorial candidate of the Allied People’s Movement (APM) in Oyo State, Bimbo Adekanmbi, has challenged Senator Sharafadeen Alli to explain how he intends to increase the state’s Internally Generated Revenue (IGR) to ₦150 billion without imposing additional taxes and levies on residents and businesses.
Adekanmbi described Alli’s revenue projection as an attractive campaign promise that lacked supporting data, economic projections and a clear implementation framework.
He challenged the senator to make public the calculations and strategies behind the proposed target, insisting that residents deserved to know how the additional revenue would be generated.
In a statement signed by the Co-Director (Media and Publicity) of the Oyo State APM Campaign Council, Dr Sulaimon Olanrewaju, Adekanmbi said, “A number is not a strategy, a promise is not a plan, and a target is not an achievement.”
He added that governance should be driven by evidence, planning and execution rather than campaign promises.
According to Adekanmbi, raising the state’s annual IGR from its current level of over ₦100 billion to ₦150 billion would require generating almost ₦50 billion in additional revenue annually.
He said such a significant increase would require a clear explanation of the sectors, investments and economic activities expected to drive the growth.
The former Commissioner for Finance and Budget, who is a chartered accountant and Fellow of the Association of Chartered Certified Accountants (FCCA), maintained that increasing government revenue should not translate into additional financial pressure on taxpayers.
He said sustainable revenue growth should be achieved through economic expansion, widening the tax net, improved compliance and plugging revenue leakages.
Adekanmbi cited the revenue performance of Governor Seyi Makinde’s administration, saying the state increased its monthly IGR from approximately ₦1.7 billion when it assumed office in 2019 to about ₦8.7 billion currently.
He said the growth was driven by reforms in revenue administration, investment promotion, technological innovation, economic expansion and improved collection systems.
According to him, Oyo State’s IGR rose from ₦51.25 billion in 2023 to ₦65.29 billion in 2024, representing a 27.4 per cent increase.
He added that the state generated ₦103.2 billion in 2025, crossing the ₦100 billion annual revenue mark for the first time.
Adekanmbi further stated that the state generated ₦55.3 billion in the first six months of 2026, putting it on course to achieve its projected annual target of ₦110 billion.
He maintained that the revenue growth was achieved without introducing new taxes or punitive levies on traders, artisans, transport operators, market women and small business owners.
Questioning the basis of Alli’s ₦150 billion projection, Adekanmbi asked: “Where will the additional almost ₦50 billion come from? What sectors of the economy will generate it? What new economic activities have been identified to support such growth?”
He also challenged the senator to identify the investment opportunities expected to drive the proposed increase and explain what revenue leakages remained after years of reforms.
“Most importantly, can Senator Alli guarantee that achieving this target will not result in new taxes, levies, fees, permits and charges for already struggling citizens and businesses?” he asked.
The APM candidate said the questions were necessary for accountability and should not be dismissed as partisan criticism.
He argued that if the proposed increase would come from economic growth, investment or improved revenue collection, Alli should provide the relevant projections and explain how they would be achieved.
Adekanmbi said the Makinde administration had demonstrated that revenue could grow through deliberate policies and sound economic management, adding that he was committed to sustaining and improving on the approach if elected governor.
He contrasted this with Alli’s projection, which he said was yet to be supported by publicly available data or a verifiable implementation plan.
“Oyo people are not asking for promises; they are asking for proof. They want the numbers behind the numbers, the assumptions behind the projections, and the roadmap behind the rhetoric,” he said.
Adekanmbi further criticised Alli’s candidacy, describing it as “rich in sensation but poor in substance”.
He said the senator needed to demonstrate the intellectual rigour and policy depth required for the governorship position.
“The issue is not whether ₦150 billion is an attractive figure. The issue is whether there is a credible plan behind it,” he added.
