When Executive Chairman of the Edo State Internal Revenue Service (EIRS), Oladele Bankole-Balogun, addressed senior officials in Benin City, he delivered a clear message: Edo is making progress, but the state must do more.
The state has already raised ₦79 billion in nine months, pushing towards its ₦100 billion goal for 2025.
Between January and June alone, it collected ₦52.6 billion — a 46% rise on last year.
Yet Bankole-Balogun warned that ministries, departments and agencies (MDAs) still allow leakages that undermine growth.
TSA To Seal Leakages
“The governor demands higher standards, and Edo people expect more,” he said.
“Revenue drives development: better roads, stronger schools, safer communities.”
To close these gaps, the state will adopt the Treasury Single Account (TSA).
This reform channels all government receipts into one transparent, digital system.
It ends cash handling, blocks leakages, and strengthens accountability.
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Moving forward, Bankole-Balogun insisted that every MDA must act as “a revenue-generating asset” and comply fully with e-receipting and digital reporting.
National Tax Reforms
Meanwhile, Nigeria prepares for sweeping national reforms.
From January 2026, the 2025 Tax Reform Acts will unify existing laws, expand coverage to digital assets and informal trade, and introduce a 4% development levy.
They will also establish the Nigeria Revenue Service and a Tax Ombudsman, both tasked with enforcing compliance.
Supporting the chairman’s call, Executive Director of MDA Services, Jackson Eribo, listed the challenges: agencies still open illegal accounts, collect cash against the state’s cashless policy, and remit only part of what they collect.
Others ignore the Edo Revenue Administration System and Tax Clearance Certificate rules.
Therefore, Edo must not only grow revenue but also enforce discipline, build trust, and secure accountability to achieve lasting financial strength.
