Edo IGR rises to N52.6bn in H1 2025, up 46% from 2024

The Edo State Internal Revenue Service (EIRS) has announced that the state’s Internally Generated Revenue (IGR) climbed to N52.6 billion in the first half of 2025, a sharp increase from the N36.1 billion recorded during the same period in 2024.

This was disclosed by the Executive Chairman of the EIRS, Oladele Bankole-Balogun, during a press briefing in Benin City on Thursday.

Bankole-Balogun described the revenue leap as “historic,” attributing the success to improved compliance, strategic tax administration, and the support of Governor Monday Okpebholo.

According to him, the performance represents an 89.5 percent budget achievement, compared to just 36 percent in the corresponding period last year.

“The N52.6 billion collected so far in 2025 was against a budgeted target of N58.8 billion for the half-year. This is a 46 percent year-on-year growth,” he said.

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To complement the reforms, the EIRS plans to launch an enlightenment campaign to educate taxpayers about the new structure and encourage voluntary compliance. Bankole-Balogun emphasized the agency’s commitment to transparency, accountability, and building a people-centered, sustainable tax system.

“Our mission is to strengthen the foundation of Edo’s economy through effective tax administration. The taxes paid by citizens are funding the massive infrastructure and development projects currently transforming our state,” he said.

He thanked individual taxpayers, companies, and government MDAs for their contributions, noting their compliance had been instrumental in achieving the revenue milestone.

Earlier in February, Bankole-Balogun had projected that the state could achieve a N120 billion annual IGR target through digitalisation, tax net expansion, enhanced enforcement, and continuous awareness campaigns.

With the strong H1 performance, the EIRS appears on track to meet or surpass this ambitious target.