Editorial Team

Emmanuel Udom-Managing Editor, Stephen Dijo Philemon-Deputy Editor, Janet Udom-Senior Correspondent, Precious Udom-Senior Correspondent, Williams Ita-Bureau Chief(Akwa Ibom/Cross River), Fabian Idoko-Senior Correspondent

    Manufacturer's Representative Import Export General Merchandise Contract Adress: Araromi Quarters, Owode Area, Ifo, Ogun state, Nigeria P.O.Box 2632, Oshiodi, Lagos Telephone: 2348166719412

    Monday, 10 October 2016

    Osun unfolds new economic levy to boost revenue

    Prince Dayo Oyebanji, acting chairman, Osun Internal Revenue Service, (OIRS), has noted that the dwindling economic fortune of the state informed the domestication of the law.

    Speaking while launching the programme in Osogbo, Oyebanji said that the economic development levy (EDL), introduced by the federal government last year permitted  all the states across the federation to increase their Internally Generated Revenue as part of efforts to find lasting solution to the current economic meltdown.
    He further stressed the  need for the residents of the state to live up to their civic responsibility through prompt payment of taxes and other constitutional obligations as the compliance remains the only way to sustain the government efforts at turning around the economy fortune of the state.

    According to him, the levy is a charge introduced and permitted by law to increase the number of revenues that are accruable to state governments in order to meet certain obligations

    Oyebanji further explained that the levy became imperative following the current economic downturn which was actually caused by the appalling fall in the prices of crude oil over the years.

    He noted that, the Osun state under the leadership of governor Rauf Aregbesola has brought unprecedented development to the state through the implementation of some laudable projects since its inception.

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