• Gov Declares 157th Joint Tax Board Meeting Open in Ibadan
From Taiwo Oluwadare, Ibadan
Governor Seyi Makinde of Oyo State has received high praise from the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, for his administration’s significant impact on the state’s Internally Generated Revenue (IGR).
Speaking at the opening ceremony of the 157th Joint Tax Board Meeting in Ibadan on Monday, Adedeji commended Makinde for growing the state’s revenue by 145.5% since assuming office in 2019. He highlighted the state’s IGR of N65.28 billion in 2024, reflecting a 23.7% increase from 2023, and noted that Oyo now ranks among the top 10 states in total revenue generation.
The FIRS Chairman, who also chairs the Joint Tax Board, acknowledged the Makinde administration’s achievements in infrastructure, education, healthcare, and investment, applauding its strategic focus on long-term socioeconomic growth.
Declaring the meeting open, Governor Makinde emphasized that the state’s revenue growth was the result of empowering citizens, expanding the tax net without undue burden, and strengthening the Oyo State Internal Revenue Service (OYSIRS).
Makinde called for inclusive solutions to Nigeria’s tax challenges, particularly regarding the informal sector, which he described as the backbone of the local economy. He stressed the importance of productivity, skills, and knowledge over reliance on natural resources as the path to sustainable economic prosperity.
“Our strategy involves mass tax education, simplified tax payment processes, and incentivized voluntary compliance to encourage broader participation,” he said.
The governor expressed optimism that the meeting’s theme, “Taxation of the Informal Sector: Potentials and Challenges,” would yield practical outcomes for capturing revenue from mobile and informal enterprises.
Adedeji also urged tax stakeholders to explore data-driven approaches for integrating market traders, artisans, and small businesses into the formal tax system.
Earlier, OYSIRS Executive Chairman, Mr. Femi Awakan, noted that the state’s monthly IGR rose from N1.6 billion in 2019 to N8.5 billion in the first quarter of 2025. He credited the increase to Governor Makinde’s leadership and reforms that expanded the tax base.
In his closing remarks, Joint Tax Board Secretary, Mr. Olusegun Adesokan, appreciated Governor Makinde’s investments across sectors, describing them as lasting legacies.
Dignitaries in attendance included members of the Oyo State executive council, lawmakers, and senior aides to the governor.
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