ONDO STATE EYES ECONOMIC GROWTH, TAX REFORMS AS IT MARKS 50 YEARS

ONDO STATE EYES ECONOMIC GROWTH, TAX REFORMS AS IT MARKS 50 YEARS


By Opima RealNews

February 2, 2026


Ondo State is exploring new measures to strengthen economic development, fiscal accountability, and revenue generation as it marks 50 years since its creation. The state government is considering implementing pro-rata pay, tax reforms, and enhanced reporting systems to ensure transparency and inclusive growth.

Speaking on the need for robust fiscal policies, economic analyst Oyedele urged the state to “implement the new tax reform acts, enact the State Tax Harmonisation Law to curb nuisance and illegal levies, and consider hosting the National Tax Ombud office for the South-West region to champion taxpayer rights and protection.

“Beyond these measures, Ondo State could introduce an annual Tax Accountability Report for every taxpayer and develop a comprehensive state tax and fiscal policy framework to guide spending, revenue mobilisation, and debt management.”

Oyedele also recommended that each local government council create a long-term economic development plan. “The state should establish a dedicated micro-portal on its website where local governments can report their long-term plans, annual budgets, and audited financial statements, ensuring proper financial accountability,” he said.

In her remarks, the Special Adviser to President Bola Tinubu on Energy, Mrs. Olu Arowolo-Verheije, stated that the President is committed to helping Ondo State fully harness its development potential.

Highlighting the state’s strategic infrastructure, she noted, “Ondo hosts 71 kilometres of the Lagos–Calabar Coastal Highway, a landmark project transforming Nigeria’s Atlantic coastline. Other major federal projects include the Akure–Ore dual carriageway, the Akure–Ado Ekiti Road, and the Federal University of Technology Teaching Hospital in Akure.

“The Ondo Deep Sea Port in Araromi is gaining momentum. Governor Aiyedatiwa recently received the port’s revalidated licence — a key milestone. When completed, it will be West Africa’s deepest seaport, with a natural draught of approximately 18 metres.”

In his keynote address, Governor Lucky Aiyedatiwa reflected on the state’s progress over the last 50 years, noting that Ondo has thrived across multiple sectors while preparing for future growth driven by economic diversification, technology, human capital development, and strong institutions.

“Fifty years on, Ondo State stands transformed. While challenges remain, our economy is shifting from primary production to value addition and industrial processing. Flagship initiatives such as the Sunshine Free Trade Zone, the Golden Ceramics Industrial Plant, the Ethanol Plant in Ore, and the Ondo Deep Sea Port demonstrate our commitment to job creation, investor confidence, and industrial diversification,” Aiyedatiwa said.

The Governor added that tourism is being repositioned as a growth driver, leveraging the state’s coastline, eco-tourism assets, and rich cultural heritage to create opportunities for local enterprise and community participation. Education, skills acquisition, and youth empowerment remain central to the state’s development strategy, with human capital recognised as its most strategic asset.

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