Benin: The Edo State Internal Revenue Service (EIRS) has announced that the state has generated N79 billion in Internally Generated Revenue (IGR) this year. Mr. Oladele Bankole-Balogun, Executive Chairman of EIRS, shared these figures during a meeting with heads of Ministries, Departments, and Agencies (MDAs), permanent secretaries, and directors.

According to News Agency of Nigeria, Bankole-Balogun highlighted that N52.6 billion of the total revenue was collected in the first half of 2025, marking a 46 percent increase from previous periods. Despite the achievements, he cautioned that revenue leakages by MDAs threaten sustainable growth. He emphasized the importance of closing these gaps, adhering to the Treasury Single Account (TSA), and aligning with the Nigerian Tax Reform Acts, which will be implemented on January 1, 2026.

Bankole-Balogun described revenue as the “lifeline of development” and called for unity and collaboration in building Edo State. He underscored that revenue is a means to achieve better infrastructure, healthcare, education, and safety for the citizens. He urged every MDA to become a revenue-generating entity while complying with digital systems and TSA requirements.

The chairman also pointed out the opportunities presented by the 2025 Nigerian Tax Reform Acts, which aim to unify tax laws into the Nigeria Tax Act (NTA). The reforms are designed to broaden the tax base, include digital assets and informal commerce, and introduce a 4 percent development levy. Bankole-Balogun encouraged Edo State to adopt e-receipting, digital reporting, and leverage its informal and digital economy for growth.

Mr. Jackson Eribo, Executive Director of MDA Services, identified challenges in optimizing revenue. These include illegal opening of revenue accounts, cash collections against the state’s cashless policy, and partial remittances. Other issues are system fragmentation outside the Edo Revenue Administration System (ERAS) and non-compliance with Tax Clearance Certificate (TCC) requirements.

Attorney General Mr. Samson Osagie and other stakeholders proposed joint strategies to address these challenges and ensure seamless collaboration in revenue management.