JRB's Olusegun Adesokan Reports 27% Tax Revenue Increase

On Wednesday, Olusegun Adesokan, the Executive Secretary of the Joint Revenue Board (JRB), announced a 27% increase in tax revenue from 23 states in the first half of 2026 compared to the same period in 2025. He indicated that the new tax regime is successfully bringing high-income earners into the tax net while alleviating the burden on lower-income taxpayers.

As of October 27, 21 states had adopted the harmonised taxes and levies legislation, which aims to consolidate various taxes into nine categories, enhancing compliance for businesses and individuals. The National Economic Council has prioritized this initiative within a 90-day action plan.

Adesokan acknowledged ongoing challenges such as multiple taxation and unauthorized collections, stating that the JRB is collaborating with police and state revenue authorities to address these issues. He urged businesses to verify tax demands with relevant authorities and ensure payments are made to authorized accounts.