Ondo unveils 2025 business registration demand notice
By Fatima Muraina
|
The Ondo State Government has launched the 2025 demand notice for business premises registration fees, a move aimed at enhancing revenue generation to support developmental projects and improve the quality of life for its citizens.
At the launch in Akure, the state capital, Mrs. Toyin Oni, Permanent Secretary of the Ministry of Commerce and Cooperative Services, described the initiative as a strategic effort to secure funds necessary for driving economic growth and meeting the state’s development needs.
Mrs. Oni explained that the event aimed to sensitize stakeholders, including taxpayers and revenue collectors, on the importance of setting higher standards to surpass last year’s revenue achievements.
She highlighted that the registration process ensures accountability and clarified that businesses are required to register their premises and pay an annual renewal fee, with charges determined by the size of the business.
“This initiative does not amount to multiple taxation,” she reassured, explaining that registration is a one-time process, with only annual renewals necessary.
Chief Bayo Rojugbokan, Chairman of the Ondo State Internal Revenue Service, called on tax officers to remain committed to revenue generation efforts that would support state development.
“Our government has declared a period of ease. To enjoy this ease, we must all contribute our fair share,” he stated, stressing that the process would be simple and monitored to prevent multiple taxation. Refunds would also be provided where necessary.
Dr. Bukola Oguntola, Chief Executive Officer of Buven Communications Nigeria and a consultant to the state on business premises registration, urged tax officers to remain diligent.
He noted that they would receive training and access to data to enhance their performance.
Dr. Oguntola revealed that 20,000 demand notices would be issued, with a minimum fee of N20,000 per business premises, projecting a significant increase in Internally Generated Revenue (IGR).
He emphasised the urgent need for revenue to fund critical infrastructure projects, particularly in light of recent salary adjustments.
He assured the public that the transition to a digital payment system would simplify the process.
“You can pay anywhere, at any time. You don’t need to visit the ministry or meet our staff. Simply open the app, pay your fee, and generate your receipt. If you encounter any issues, our staff will be available to assist you,” he said.
In his remarks, Mr. Adekanbi Thompson, representing the Director of Procurement for Ondo State Public-Private Partnership, highlighted contractor registration as a key revenue stream within the procurement department.
He described the business registration initiative as transformative for the department, ensuring compliance and transparency for those seeking government contracts.