Oyo State Governor, Seyi Makinde Rejects Presumptive Tax Bill

Oyo State Governor, Seyi Makinde, has declined to sign the Presumptive Tax Bill passed by the state House of Assembly, citing the need to alleviate the current economic hardship faced by citizens. Makinde expressed his stance during the flag-off ceremony for the upgrade of Samuel Akintola Airport to international standards, where he recognized Speaker Debo Ogundoyin.

Makinde emphasized that his focus is on empowering the people, not burdening them. “Anything that will put money in the pocket of the people is what I am interested in, so they can use it where it is needed most. At this time, I’m not interested in any policy that will empty their pockets. I’ll continue to fight poverty and not fight the poor,” he stated.

The Presumptive Tax Bill, passed last Thursday, aimed to impose taxes on individuals and entities with unascertained income due to lack of financial records. The bill outlined various tax rates for different enterprises, including artists, barbers, bricklayers, and photographers.

However, Makinde recognized the Assembly’s initiative to increase the state’s Internally Generated Revenue. He praised their efforts but chose not to implement the bill at this time, prioritizing poverty alleviation instead.

This decision aligns with Makinde’s previous actions to cushion the economic hardship in Oyo State. In his 2024 Budget Speech, he highlighted initiatives like the Sustainable Actions for Economic Recovery (SAfER) program and a six-month salary award for civil and public servants .

The governor’s stance has been consistent in promoting economic recovery and alleviating poverty. By rejecting the Presumptive Tax Bill, Makinde demonstrates his commitment to prioritizing the welfare of Oyo State citizens.