Osun State Governor, Ademola Adeleke, has reassured residents that the newly introduced tax reform policy is not intended to create additional hardship, but rather to promote fairness, equity, and sustainable revenue generation for the state. The governor, who was represented by the Secretary to the State Government, Teslim Igbalaye, made this assurance during a three-day stakeholders’ engagement held on Tuesday at the Centre for Black Culture in Osogbo. The event focused on the implementation of the new tax law in the state. Adeleke emphasized that while taxation remains a key source of revenue for the government, the reforms are designed to ease the financial burden on citizens while improving the efficiency of the tax system. He explained that the primary aim of the reforms is to expand the tax net by ensuring more informal sector operators comply with the system, which would, in turn, increase the funds available for essential social services and infrastructure development. “This retreat is timely and necessary as the new tax Acts are not designed to place undue burden on citizens or businesses. Rather, they are intended to promote fairness, expand the tax net, improve compliance, and strengthen Osun State’s revenue base through transparency, efficiency, and digital innovation,” Adeleke said. The governor also highlighted that the policy framework is people-oriented, pro-business, and investor-friendly, with particular attention given to small and medium-sized enterprises (SMEs) that play a pivotal role in driving economic growth and job creation. “Our approach to tax reform is deliberate and people-centered. The new framework recognizes the importance of SMEs and provides a gradual, fair, and supportive pathway for integrating the informal sector into the formal economy,” he stated. Adeleke further pointed out that measures have been put in place to protect low-income earners, including reliefs, exemptions, and reduced tax rates where applicable. “Our goal is balance. We want to grow revenue without harming livelihoods and build compliance without eroding public trust,” he concluded. With the new reforms in place, the state aims to foster a more transparent, inclusive, and efficient tax system while promoting sustainable development and the welfare of its citizens.
