The Ondo State Internal Revenue Service said internally generated revenue grew to N60 billion in 2025, marking a significant increase from ₦36 billion in 2024.

The acting chairman of ODIRS, Bayo Rojugbokan, disclosed this in Akure on Friday.

He said the figure, which represented a significant increase, was the highest annual IGR ever generated in the state’s history.

Mr Rojugbokan, a tax expert, said the state’s monthly revenue rose from an average of N3 billion in 2024 to N5 billion in 2025.

He explained that while the core revenue directly accounted for an average of N3 billion monthly, additional inflows from other revenue-generating agencies and investment channels brought the total monthly IGR to N5 billion.

Mr Rojugbokan attributed the increase to improved transparency, accountability and the deployment of technology in revenue collection and monitoring.

“People now have more trust in the system. Payments are receipted digitally, and taxpayers can easily verify and store their records. This has reduced leakages and improved compliance,” he said.

He added that the ongoing reforms in tax administration, including accurate assessment of taxpayers based on income rather than arbitrary increments, also contributed to the growth.

Mr Rojugbokan said the government had discontinued the previous practice of automatic annual tax increases, opting instead for assessments in line with existing laws.

He noted that efforts were ongoing to expand the state’s tax net and deploy more technology-driven solutions, including the introduction of electronic ticketing systems to curb revenue leakages.

According to him, the state is optimistic of surpassing the 2025 performance in 2026, given the current revenue trajectory and ongoing reforms.

“Our target from the government this year is about N33 billion for the core revenue. So, what we’re doing is that when the government gives us a target, we come back home and give ourselves another target that is far ahead of what the government gave us. If we fail our own target, we will still meet the government’s target.

“Today, we are monthly meeting the government’s target of N33 billion. We are even far ahead of it, and we’re sure that it will take us, at the end of the year, to surpass the government’s target and beat our prior year’s achievements.

“So, we’re positively convinced that we are going to exceed what we achieved in December 2025. By the time December 2026 comes, we would have achieved beyond that,” he said. 

(NAN)