The Edo State Internal Revenue Service, (EIRS) said it has generated the sum of N79 billion out of the N100 billion target set by the State in 2025 fiscal year in the last nine months.
EIRS Executive Chairman Oladele Bankole-Balogun, disclosed this during an interactive meeting with heads of Ministries, Departments and Agencies, MDAs including permanent secretaries and directors held at the EIRS Corporate Head Office, in Benin- City, the Edo State’s capital.
Highlighting the Service’s growth, Hon. Bankole-Balogun stated that the IGR for the first half of the year reached N52.6 billion a 46% increase compared to the same period in 2024. He however warned that revenue leakages within MDAs pose a major threat to sustainable growth.
To combat these leakages, the EIRS Chairman disclosed that the state government would be adopting the Treasury Single Account (TSA) as part of policy reforms to boost revenue generation and block leakages.
“These results are commendable. Yet, by the standards of the governor, the expectations of Edo people, and the possibilities before us, there is still much more to do.
“A fundamental tool for achieving this is the Single Treasury Account (TSA), which we have begun to institutionalize. It ensures that all government receipts flow through a transparent, centralized account, eliminating cash handling, reducing leakages, and improving accountability.
“Going forward, we will insist that all revenue streams be remitted into the IGR account, with proper digital trails and accountability”, he said.
He explained that there was the need to close leakages, comply fully with the Treasury Single Account (TSA), and align with the Nigerian Tax Reform Acts set to take effect January 1, 2026.
The EIRS boss who described revenue as the “lifeline of development,” insisted that Edo must position itself as a frontrunner in implementing the new framework.
He said the meeting was more than administrative, and a clarion call for unity, collaboration, and shared purpose in building the Edo State of our dreams.
“Revenue is not an end in itself; it is a means to better roads, stronger health systems, vibrant education, safe communities, and dignity for all citizens of Edo State.
“Every MDA must become “a revenue generating asset in its own right” while ensuring compliance with digital systems and TSA requirements.
Highlighting the opportunities in the 2025 Nigerian Tax Reform Acts, Hon. Bankole-Balogun said it would consolidate multiple tax laws into a unified Nigeria Tax Act (NTA).
He also explained that the reforms expanded the tax next to digital assets and informal commerce, introduced a four percent development levy and established new institutions like the Nigeria Revenue Service (NRS) and a Tax Ombudsman.
“The new framework simplifies, digitalises, and makes tax administration more predictable.
“Edo must align internal processes, adopt e-receipting and digital reporting, and leverage our informal and digital economy for sustainable growth,” he added.
He, however, urged MDAs handling land, urban planning, permits, and business registrations to strengthen compliance under the restructured stamp duty and real estate provisions.
He also called for sustained partnership, with the MDAs stressing that, “We do not ask for compliance by fiat, but by reason, trust, systems, and partnership.
“Think of the untapped potential in land and planning agencies, in building control, in informal trade regulation, in permitting systems, and in new business registration,” he advised.
“We invite each of you to own the vision, to embed revenue-conscious thinking in your agencies, and to commit to the discipline that accountability demands.”, stated.
On his part, Hon. Jackson Eribo, Executive Director, MDA Services, EIRS listed some of the challenges hindering revenue optimization to include illegal opening of revenue accounts, cash collections against the state’s cashless policy, and partial remittances
Eribo listed other challenges to include fragmentation of systems outside the Edo Revenue Administration System (ERAS), and non-compliance with Tax Clearance Certificate (TCC) requirements.
He noted that the continued violation of the state’s cashless policy through cash collections and partial remittances remains a serious concern.
