Ekiti leads Nigeria in tax reform with new revenue law

Ekiti State has become the first state in Nigeria to domesticate the Nigeria Tax Administration Act, following Governor Biodun Oyebanji’s signing of the Ekiti State Revenue Administration Law, 2025.

The signing coincided with the formal approval of the State’s 2026 Budget, totaling ₦415,572,070,139.44, at a ceremony held on Tuesday at the Executive Council Chamber in Ado-Ekiti.

The event was attended by Deputy Governor Monisade Afuye, Speaker of the House of Assembly Rt. Hon. Adeoye Aribasoye, Executive Secretary of the Joint Revenue Board (JRB) Segun Adesokan, members of the State Assembly and Executive Council, and other key stakeholders.

Governor Oyebanji described the new revenue law as a transformative step toward transparency, modern governance, and economic empowerment.

He noted that Ekiti is now fully aligned with the four new National Tax Reform Acts, adopting a strictly electronic system for payments, billing, and receipting to eliminate revenue leakages.

“This law repeals the Ekiti State Board of Internal Revenue Law 2019 and consolidates all existing revenue legislation to ensure efficiency, accountability, and fairness,” Oyebanji said.

He added that the law strengthens the Ekiti Internal Revenue Service (EKIRS) as the sole revenue-collecting agency, allows accreditation of professional tax agents, empowers legal officers with prosecutorial authority, and introduces administrative penalties to reward compliance.

The governor emphasized that the law will promote investment, improve the ease of doing business, prevent double taxation, empower local governments, and enhance institutional efficiency across the state.

Executive Secretary of the Joint Revenue Board, Segun Adesokan, praised Ekiti State for taking the lead in implementing the law, recalling that the JRB had recommended Ekiti for this pioneering role during a retreat in Ikogosi-Ekiti in September.

“Ekiti has set the benchmark for other states in domesticating the Nigerian Tax Administration Act,” he said.

Alongside the revenue law, Governor Oyebanji signed the 2026 Appropriation Law, tagged the “Budget of Sustainable Governance.”

The budget prioritizes the completion of ongoing projects while addressing food security, wealth creation, and infrastructure development.

It allocates 53% to recurrent expenditure and 47% to capital spending, aiming to consolidate achievements from the administration’s first term, which began on October 16, 2022.

The governor reaffirmed his commitment to policies that advance shared prosperity for Ekiti residents and strengthen the state’s fiscal and economic systems.