Delta State IGR Surges Through Economic Diversification

Delta State records strong revenue growth as reforms and economic diversification strengthen finances, reducing dependence on oil earnings and federal allocations nationwide.

Delta State has more than doubled its internally generated revenue through reforms and investment in key non-oil sectors.

Delta State has significantly increased its Internally Generated Revenue (IGR) through reforms and a stronger focus on economic diversification under Governor Sheriff Oborevwori’s MORE Agenda.

The state government announced that Internally Generated Revenue rose from about ₦84 billion in 2023 to more than ₦200 billion, representing an increase of over 138 per cent. The achievement was revealed after a delegation from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) visited the state to assess its revenue generation and diversification programmes.

The government said the growth reflects strategic reforms and sustained investment in sectors beyond oil. It added that the assessment took place in Asaba, where the commission reviewed initiatives designed to strengthen the state’s economy and improve long-term financial stability.

During the visit, the Revenue Mobilisation Allocation and Fiscal Commission praised Delta State’s investment in agriculture, industrialisation, innovation and other non-oil sectors. The commission described the state’s approach as a strong example of how economic diversification can support a resilient economy and encourage sustainable growth.

Governor Oborevwori’s MORE Agenda, which stands for Meaningful Development, Opportunities for All, Realistic Reforms and Enhanced Peace and Security, focuses on infrastructure, economic expansion, human capital development and better governance. Since taking office in May 2023, the administration has consistently promoted economic diversification as a key strategy to reduce reliance on oil revenue and strengthen public finances.

Across Nigeria, many state governments are also expanding investment in agriculture, manufacturing, technology and tourism to increase Internally Generated Revenue and reduce dependence on monthly allocations from the Federation Account.

Can Delta State’s approach inspire more states to strengthen their economies through economic diversification?