Osun Govt. Introduces Development Levy


To increase the state’s revenue, the Osun state government has introduced the Economic Development Levy programme (EDL), which ensures business owners pay an approved revenue tariff into government’s coffers.
The new policy was introduced at Osogbo, the state capital, in a gathering of stakeholders who appeared to not be in tune with the policy.

In attendance were market women, artisans,‎ leaders of the road transport unions, motorcyclists as well as officials of the Osun State Inland Revenue Service and representatives of the World Bank.Osun, Economic development

Majority of the stakeholders consider the development levy as burdensome as they currently pay to their various associations.

They argued that the EDL would mostly affect low income earners and there is a need for more dialogue between themselves and the government.

Affordable levies

In response to this, the General Manager of the Osun State Internal Revenue Service, Dayo Oyebanji, explained that the levy would enhance the furtherance of the economic and infrastructural development of the state.

He insists that the payment would not amount to additional burden on the people.

Osun, Economic developmentAccording to Mr Oyebanji, the state government was lenient as to make the levy rates affordable while also stating that it would vary based on the individual level of each business.

He asserted that the over-dependence on oil revenues has encouraged the avoidance of tax and other levies and this in turn has inhibited the development of other sectors of the Nigerian economy.

Mr Oyebanji therefore stressed the need for the residents of the state to live up to their civic responsibility.

“The prompt payment of taxes and other constitutional obligations, would also contribute to Nigeria’s efforts to overcoming the recession,” he added

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