Oyo state, Nigeria – Governor Seyi Makinde of Oyo State is telling Nigeria’s tax officials to show some heart. At a major tax meeting held in Ibadan this week, the governor urged a more thoughtful and inclusive way to bring informal workers—like market women, artisans, and small traders—into the national tax net.
Speaking at the 157th Joint Tax Board (JTB) meeting themed “Taxation of the Informal Sector: Potentials and Challenges,” Makinde said that Nigeria can’t afford to scare off the very people it wants to support. “Let’s be strategic and compassionate,” he said.
The informal sector makes up more than 92% of Nigeria’s employed population. Yet, these everyday earners often lack structure or protection—making taxation a sensitive issue.
Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), backed the governor’s views and praised Oyo’s strong tax reform. The state generated ₦65.28 billion in 2024 alone, up nearly 24% from the year before.
Makinde’s own tax chief, Adebowale Awakan, said Oyo’s monthly tax revenue has exploded from ₦1.6 billion in 2019 to ₦8.5 billion in early 2025.
“This isn’t about punishing the poor,” Adedeji added. “It’s about organizing the sector for better planning and more fairness.”
Bottom line? Taxing the informal sector must be smart, fair—and never cruel.
