The Ondo State Government has reported a total revenue of N900 million from the sale of tickets to commercial motorcyclists and tricyclists throughout the state.
The government aims to surpass the N1 billion mark by the end of December 2023.
The Chairman of the state Internal Revenue Service, Mr Tolu Adegbie, revealed this information during the 2023 raffle draw ceremony for commercial motorcycle and tricycle operators held in Akure on Monday.
Despite the positive outlook, Adegbie acknowledged a revenue shortfall compared to the previous year, citing factors such as the naira scarcity issue early in the year and the removal of fuel subsidy.
He emphasized that the generated amount of N900 million, covering January to November, falls short of the N1 billion recorded during the same period last year. Notably, the bulk of this revenue is attributed to motorcycles.
Adegbie highlighted the tricycle sector’s contribution, mentioning an approximate range of N250 to N350 million.
In response, the government is encouraging tricycle owners, albeit fewer in number, to improve their performance.
Adegbie expressed optimism that by the end of December, the total revenue from motorcycle and tricycle operations would exceed N1 billion.
Earlier, Doyin Odebowale, the Special Adviser to Governor Rotimi Akeredolu on Special Duty and Strategy, provided context, stating that the revenue from commercial motorcyclists was initially around N400,000 monthly and N4.8 million annually when the current government assumed office.
However, by 2018, the Akeredolu administration successfully increased the revenue to N350 million.
During the ceremony, various items such as motorcycles, bags of rice, and others were presented as gifts to operators by the Ondo State Internal Revenue Service (ODIRS) to express appreciation for their commitment.
