Business
EIRS Chairman Bankole-Balogun Sets N10 Billion Revenue Target
- EIRS highest monthly revenue was N7.8 billion recorded in January 2024
- There’s nothing stopping us from achieving N12 billion monthly in the long run – EIRS Boss
- We’re committed to cleaning up the system – EIRS Chairman Oladele Bankole-Balogun
Edo State Internal Revenue Service (EIRS) Chairman Oladele Bankole-Balogun has set an ambitious target of generating over N10 billion in monthly revenue for the state.
Eko Hot Blog gathered that this goal represents a significant increase from the previous administration’s average of N6.4 billion, with the highest monthly revenue of N7.8 billion recorded in January 2024.
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Bankole-Balogun’s plans include implementing various reforms aimed at streamlining the revenue collection process and boosting efficiency within the EIRS.
To achieve this, the chairman said: “We are committed to cleaning up the system, blocking loopholes and phasing out manual revenue collection. It’s time to modernise our processes.”
He said that the practice of using tax officers armed with canes to chase citizens for tax payments is outdated and will be abolished.
Bankole-Balogun said he has received the blessing of Governor Monday Okpebholo, to introduce cutting-edge technologies designed to streamline revenue collection, eliminate inefficiencies and maximize the state’s income.
His words: “We aim to double what the state currently generates. There’s nothing stopping us from achieving N12 billion monthly in the long run, but my immediate target is N10 billion after implementing all the reforms we are about to introduce.”
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He added: “Governor Monday Okpebholo has a bold vision for the state and he is set to usher in a new era of efficient revenue collection, ensuring increased resources for Edo State’s development.”
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