The Edo State government has announced that its strategic implementation of technology and innovation is set to drive the achievement of its ambitious target of generating N100 billion in Internally Generated Revenue (IGR) by the close of December.
Significant strides have been made in boosting the state’s revenue streams, alongside effectively addressing persistent challenges related to tax evasion and avoidance.
In a recent interview, Otunba Oladele Bankole-Balogun, the Executive Chairman of the Edo Internal Revenue Service (EIRS), highlighted the steady advancements being realized through rigorous audits, comprehensive assessments, and the strategic utilization of judicial processes.
He revealed that Edo State’s IGR stood at N74 billion by the end of August and had increased to N79 billion at the time of reporting.
Bankole-Balogun noted that the current administration under Monday Okpebholo inherited a system that was largely devoid of digital infrastructure.
He emphasized that his team is diligently working towards fully digitalizing the revenue collection process in Edo State, aiming to drastically minimize cash-based and manual transactions in the near future.
“Presently, the Edo State Internal Revenue Service is witnessing remarkable progress in enhancing the state’s IGR. Our taxation framework comprises multiple facets, each showing notable improvement compared to last year’s figures,” he explained.
“We have several corporations and individuals lined up for assessment. Historically, engaging high-net-worth individuals has been challenging due to their capacity to evade taxes, but we are now effectively addressing this issue.”
Looking ahead, he expressed confidence in the state’s readiness for the upcoming tax reforms scheduled to take effect from January 1, 2026.
“The new tax policy will place less focus on both low and high-income earners. Our goal is to strategically target high-net-worth individuals who have the ability to contribute more, thereby maximizing revenue from this segment,” he stated.
“Digital transformation remains central to our approach. Tax authorities, including the Federal Revenue Service (formerly FIRS) and the Edo State Internal Revenue Service, are fully engaged. The integration of Tax Identification Numbers (TINs), Business Identification Numbers (BDNs), and National Identification Numbers (NINs) will be pivotal for all financial transactions across Nigeria starting January 1.”
“By leveraging these tools and technologies, we aim to enhance revenue collection from those with greater financial capacity, ultimately improving living standards for all residents.”
