In a bid to address residents’ concerns regarding the new tax law, Governor Ademola Adeleke has assured that low-income earners will be protected during its implementation.
Speaking at a three-day retreat focused on the execution of the new tax acts at the Centre for Black Culture and International Understanding in Abere,bon Tuesday, Adeleke emphasized the necessity of growing revenue without harming citizens.
Represented by Hon. Teslim Igbalaye, the Secretary to the State Government, Adeleke praised the Osun State Internal Revenue Service for organizing the retreat, noting the critical importance of effective tax administration for sustainable governance.
‘Taxation is the most reliable and sustainable source of public revenue for any responsible government. When properly structured and efficiently administered, it provides resources for building infrastructure, supporting social services, strengthening institutions, and promoting economic development. A functional tax system is central to good governance’, Adeleke stated.
He explained that the new tax acts are designed not to impose undue burdens on citizens or businesses, but rather to promote fairness and improve compliance while strengthening Osun State’s revenue base through transparency and efficiency.
‘Our approach to tax reform is deliberate and people-centered. The new framework is pro-business and investor-friendly. It recognizes the role of small and medium-scale enterprises in driving growth and job creation, while also providing a structured pathway for integrating the informal sector into the formal economy in a gradual, fair manner’, Adeleke said.
He assured that the law includes provisions for reliefs, exemptions, and reduced rates for low-income earners, saying ‘Our goal is balance; we seek to grow revenue without harming livelihoods and to build compliance without eroding trust’.
The governor’s Special Adviser on Taxes, Hon. Kamorudeen Ajisafe, explained the importance of collaboration among government, the private sector, civil society, and professional bodies in implementing the law effectively. He noted that their insights and recommendations are vital for fostering fairness and strengthening public trust in the tax system.
‘The enactment of the new tax law is a strategic reform aimed at simplifying tax compliance and broadening the tax base. Its success will depend not just on the law itself, but on our shared understanding, cooperation, and commitment to its effective implementation’, Ajisafe said.
