New tax laws will enhance sustainable development — Oyebanji

Ekiti State Governor, Biodun Oyebanji, has revealed that the new tax reform laws by President Bola Tinubu, when implemented, would enhance sustainable development in the country.

Oyebanji, who commended the president for his bold and audacious reforms across all sectors, noted that the four tax laws, as signed into law, is transformative and a watershed in tax administration in Nigeria.

The governor spoke this weekend in Ikogosi warm spring and resort during the 2025 Joint Tax Board (JTB) strategic retreat with the theme, ‘ Re-Imagining the Nigerian Tax Eco-system: Harnessing the four tax reform laws as game changers in tax administration’.

The retreat was attended by stakeholders across the 36 states, including the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele.

While commending the board for choosing Ekiti to host this year’s retreat, he said his administration in almost two years has demonstrated fiscal discipline with life-impacting projects, with more people paying tax willingly, resulting in an increase in the state’s internal revenue from N600 million to over N2 billion within the first 26 months of the administration.

He said, “With the signing of these tax reform bills by the President, and the planned commencement of implementation starting from January 2026, we have been presented with a historic opportunity to reshape how our country mobilises revenue, fosters compliance, and delivers sustainable development.

“The courage and vision of Mr President deserve our highest commendation as we align with his determination to reposition Nigeria for greatness. These reforms will shape the trajectory of Nigeria’s economy for years to come.

“This retreat, therefore, provides a unique forum to deliberate on the implications of these laws and to share our expertise and experiences. While these reforms represent a pivotal shift towards a resilient and self-reliant economy, the real test, as with any transformative policy, lies in their implementation.

“Ekiti State is proud to host this gathering at a time when we are recording significant strides in our own fiscal reforms. Our Internally Generated Revenue (IGR) has almost quadrupled in the three years since we took office. I must once again commend our Board of Internal Revenue Chairman, Mr Olaniran Olatona, and his team for their professionalism and strategic innovations, which have provided critical funding for our administration to deliver the dividends of democracy to our people.”

Reiterating the place of a robust tax system in driving economic growth and enhancing citizens’ welfare, Oyebanji added that,” we, in Ekiti State, are committed to implementing these national reforms effectively and efficiently.”

Speaking, the Chairman, Joint Tax Board, Zacch Adedeji, who commended Governor Oyebanji for providing effective leadership for the internal revenue service to thrive in the state, noted that the theme of the retreat was apt and critically chosen to enforce President Tinubu’s tax reform nationally.

Adedeji, who was represented by the Coordinating Director of the Federal Internal Revenue Service (FIRS), Alhaji Mohammed Abubakar, lauded the efforts of the presidential tax committee headed by Oyedele for the new laws, adding that the board would ensure the effective and efficient implementation of the reforms across the country.

On his part, the Chairman, Ekiti State Internal Revenue Service, Olaniran Olatona, expressed appreciation to Governor Oyebanji, who had been a pillar of support to the process of internally generated revenue in the state, which he promised to effectively use for the development of the state and which has brought about voluntary compliance to tax payment by residents of the state.

Olatona noted that the tax system was already equipped for a dynamic change that would bring improvement to the lives of the citizens since it was the first time the country was experiencing such massive reform, expected to be beneficial to all.

He said, “Our theme – ‘Re-Imagining the Nigerian Tax Eco-System: Reform Laws as Game Changers in Tax Administration’, challenges us to think beyond the present, to create a system that is fair, transparent, efficient, and capable of sustainably funding Nigeria’s developmental aspirations and the Subnational Government.

“It is my firm belief that the deliberations, policy reviews, and peer learning that will take place here in Ikogosi will not only reshape the Nigerian tax administration but also chart a new course for sustainable revenue generation at all levels of government.”

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