Edo State has achieved a major financial milestone, recording ₦79 billion in Internally Generated Revenue (IGR) so far in 2025. The announcement was made by the Executive Chairman of the Edo State Internal Revenue Service (EIRS), Mr. Oladele Bankole-Balogun, during a strategic meeting with heads of Ministries, Departments and Agencies (MDAs), permanent secretaries, and directors in Benin City.

Bankole-Balogun disclosed that ₦52.6 billion of the revenue was generated in the first half of the year—representing a 46% increase compared to previous years. While commending the growth, he warned that unchecked leakages across MDAs could undermine the state’s progress.

“These figures are encouraging,” he said, “but they fall short of the expectations of our governor, the aspirations of Edo people, and the full potential of our economy.”

Push for Accountability and Reforms

The EIRS boss stressed the need for full compliance with the Treasury Single Account (TSA), adoption of digital reporting systems, and readiness for the upcoming Nigerian Tax Reform Acts taking effect on January 1, 2026.

The new reforms will:

• Consolidate multiple tax laws into a unified Nigeria Tax Act (NTA)

• Expand the tax base to cover digital assets and informal trade

• Introduce a 4% development levy

• Establish the Nigeria Revenue Service (NRS) and a Tax Ombudsman

“Revenue is the lifeline of development. It funds better roads, healthcare, education, and community safety. Every MDA must become a revenue-generating asset, with full digital accountability,” Bankole-Balogun emphasized.

He further highlighted opportunities in land administration, urban planning, permits, and real estate transactions, urging agencies to tap into these untapped revenue streams.

Cracking Down on Leakages

Also speaking at the meeting, Mr. Jackson Eribo, Executive Director of MDA Services, flagged issues undermining revenue performance. These include:

• Unauthorized revenue accounts

• Cash collections in violation of the state’s cashless policy

• Fragmented systems outside the Edo Revenue Administration System (ERAS)

“The continued breach of our cashless policy and partial remittances are serious concerns,” Eribo warned.

The Attorney General of Edo State, Mr. Samson Osagie, joined other stakeholders in recommending stronger collaboration to plug loopholes and ensure unified digital integration across MDAs.

The Bigger Picture

The session ended with a renewed pledge to transparency, digital innovation, and fiscal discipline, aligning Edo with the federal government’s reform agenda.

With this momentum, Edo State is positioning itself as a national model for sustainable revenue generation and economic growth.