Ekiti State has become the first subnational entity in Nigeria to domesticate the Nigeria Tax Administration Act (NTAA) in a move to align with national fiscal reforms.
According to a statement from the state government, Governor Biodun Oyebanji formalized this transition on Wednesday by signing the Ekiti State Revenue Administration Law, 2025, into law.
The signing ceremony, held at the Executive Council Chamber in Ado-Ekiti, also saw the Governor assent to the state’s 2026 “Budget of Sustainable Governance,” valued at N415.57 billion.
Key highlights of the new revenue law
The 2025 Revenue Administration Law repeals the Ekiti State Board of Internal Revenue Law of 2019. It aims to modernize tax collection and eliminate systemic inefficiencies.
- With its mandatory digital payments, Ekiti has officially transitioned to a strictly electronic payment, billing, and receipting system.
- The law also created as centralized authority allowing the Ekiti State Internal Revenue Service (EKIRS) to hold the sole authority for revenue collection, effectively curbing the activities of unauthorized third-party collectors.
- The law grants EKIRS prosecutorial powers and the ability to impose administrative penalties on defaulters.
- By adopting the harmonized list of taxes approved by the Joint Revenue Board (JRB), the law seeks to provide certainty and fairness for businesses operating within the state.
“From today, Ekiti adopts a strictly electronic payment system. This will eradicate leakages and ensure that your payments go directly into the state’s coffers,” Governor Oyebanji stated.
The Executive Secretary of the Joint Revenue Board, Segun Adesokan, lauded the state for fulfilling a commitment made during the JRB retreat in Ikogosi last September.
“Ekiti is the first state to domesticate the Nigeria Tax Administration Act,” Adesokan noted, expressing optimism that other states would follow suit to ensure a more professional and autonomous subnational revenue landscape across the federation.
The 2026 fiscal outlook
The newly signed N415.57 billion budget reflects a balanced approach between maintaining government operations and investing in growth.
The budget allocates 53 percent to recurrent expenditure and 47 percent to capital expenditure.
Governor Oyebanji emphasized that the 2026 budget is designed to prioritize the completion of ongoing projects while strengthening the state’s infrastructure and agricultural output.
The ceremony was attended by high-ranking officials, including Deputy Governor Monisade Afuye and the Speaker of the Ekiti House of Assembly, Adeoye Aribasoye.
What you should know
The NTAA is a cornerstone of the Federal Government’s 2025 tax reform agenda. It was designed to provide a unified procedural framework for the assessment, collection, and enforcement of taxes across all tiers of government, replacing fragmented legacy laws.
- However, some provisions of the Act, which comes into force from January 2026, has continued to generate concerns among players in affected industries.
- For instance, stakeholders in the crypto industry are worried over plans to tax cryptocurrency transactions under the new law.
- The Act introduces significant compliance demands on Virtual Assets Service Providers (VASPs), including mandatory registration with the tax authority, detailed KYC data retention for seven years, and compulsory reporting of large or suspicious transactions to both the tax authorities and the Nigerian Financial Intelligence Unit (NFIU).
