• ‘Ensure transparency in tax reform implementation’
President Bola Ahmed Tinubu’s economic reform programme is a revolution, the most far-reaching in many decades of Nigeria’s nationhood, a former House of Representatives Speaker Yakubu Dogara said yesterday.
According to him, the President inherited an economy in comatose, which needed such “bold and courageous” decisions to pull it back from the brink.
On assumption of office on May 29, 2023, the President removed subsidy on petrol and scrapped multiple exchange rates, the twin economic policies that have defined his administration.
Dogara said: “This is a legacy that would impact generations after us and cement President Tinubu’s place in Nigeria’s history as the undisputed most consequential economic reformer of our time”.
He spoke during the maiden Distinguished Parliamentarian Lecture, organised by the House of Representatives Press Corps at the National Assembly Complex in Abuja.
His lecture, titled: “Navigating Tax Reform in Nigeria: Insights on President Tinubu’s Policies”, examined the origins, scope, and expected impact of the tax reforms encapsulated in the Nigeria Tax Act (NTA) 2025 and related legislation.
“By the time President Tinubu took office, the economic debris of the nation had become too conspicuous to be ignored. About N22.7 trillion had been printed and injected into the economy in the name of Ways and Means, thereby destroying the value of the naira in our pockets.”
“Some of the foreign loans had been procured to help strengthen the naira, a measure that could only be sustained by voodoo economics.”
“From day one, it was clear something urgent, nay revolutionary, must be done to prevent our economy from imploding.”
He described President Tinubu’s sweeping tax reforms as the most audacious overhaul of Nigeria’s fiscal framework in decades, urging the government to ensure transparency and sustained implementation to secure public trust.
Dogara outlined the key provisions of the reforms, which consolidated 16 federal tax statutes into four principal Acts:
Nigeria Tax Act (NTA) 2025: Consolidates multiple tax laws into a unified framework, expands the tax base to cover digital services and virtual currencies, and introduces a 15 per cent minimum effective tax rate for large companies.
Nigeria Tax Administration Act (NTAA) 2025: Modernises assessment, collection, and compliance rules, introduces simplified filing for low-income earners, mandates the use of unified Taxpayer Identification Numbers (Tax IDs), and establishes a Tax Ombudsman’s Office.
Nigeria Revenue Service (Establishment) Act (NRSEA) 2025: Establishes the Nigeria Revenue Service to replace the FIRS, with expanded powers and mandatory transparency reporting.
Joint Revenue Board (Establishment) Act (JRBEA) 2025: Harmonises federal-state revenue sharing and coordinates dispute resolution through a Tax Appeal Tribunal and Ombudsman.
Dogara said the reforms, which would be fully operational by January, are designed to simplify Nigeria’s complex tax regime, broaden the tax net, encourage compliance, and align domestic rules with global standards.
Quoting the report of the Presidential Committee on Fiscal Policy and Tax Reform, chaired by Taiwo Oyedele, Dogara said the reforms were conceived to “protect the poor, empower businesses, encourage investment, and ensure fairness in society.”
Among the reliefs introduced are exemptions for small companies with turnover of N100 million or less, rent reliefs for salaried workers, tax credits for upstream oil operators, and full income tax exemption for individuals earning N800,000 or less annually.
The reforms also abolished multiple sectorial levies, replacing them with a single four per cent development levy, while new provisions bring digital gains, crypto assets, and foreign exchange earnings into the tax net.
Dogara reflected on the five per cent fuel surcharge captured in the new Act, saying it was not a new tax but a restatement of an existing provision in the Federal Roads Maintenance Agency (FERMA) Act, 2007.
He said the surcharge would not apply to household energy products, such as kerosene, cooking gas, or compressed natural gas, and would only take effect after the Finance minister issues an official gazette order.
“This safeguard eliminates recklessness and ensures timing and economic conditions are carefully considered,” he added
Despite applauding the boldness of the reforms, Dogara highlighted challenges of uncertainty in interpretation, technological readiness, skilled manpower, and short-term compliance costs.
“The drive towards full digitalisation, from e-invoicing to automated tax filings, promises efficiency but demands a significant upgrade in our digital capabilities and cyber security,” he said.
The former Speaker said businesses must invest in systems and training to adapt.
He emphasised that a successful tax reform requires public trust.
“True tax reform is not about raising rates, but about raising trust. When citizens can see where their naira goes, they are proud to give it,” he said.
Dogara urged the government to ensure revenue raised through taxation is transparently deployed to build roads, power industries, and improve hospitals and schools.
“Let this reform be a pact between the government and the private sector, a promise that if we contribute diligently, the government will deploy those resources responsibly,” he said.
He called on President Tinubu to ensure sustained implementation, as the reforms could cement his place in history.
The Speaker of the House of Representatives, Tajudeen Abbas, commended the tax reforms, describing them as a decisive step toward simplifying compliance, broadening the tax net, and easing the burden on ordinary Nigerians.
Abbas, who was represented by the House Spokesperson and Chairman, Committee on Media and Public Affairs, Akin Rotimi, hailed the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms and the harmonisation of tax collection.
He said they are “a significant intervention that promises to re-engineer our tax administration architecture for greater efficiency, fairness, and transparency.”
Abbas said the National Assembly devoted time to diligently process the far-reaching legislation transmitted by the executive through robust debates, stakeholder consultations, and committee work.
“Indeed, what we have before us is one of the most significant steps of building our Fourth Republic, with the greatest potential to transform our economy and fiscal institutions,” he added.
The Speaker said the 10th House is committed to open governance and citizen engagement.
He alluded to innovations, such as live streaming, community sessions, and digital portals that have made legislative processes more transparent and inclusive.
Abbas reaffirmed the legislature’s support for press freedom, outlining 10 key principles that should guide the media in strengthening democracy.
These include telling the right stories that promote unity and peace, rejecting fake news, exposing mistakes in governance, ensuring objectivity in reporting, and holding public officials accountable.
He said “press freedom in Nigeria is not negotiable,” urging journalists to partner the legislature to promote transparency, protect democracy, and safeguard human rights.
The Speaker praised the House of Representatives Press Corps for convening the lecture, and lauded the inaugural guest lecturer, former Speaker Dogara, as a statesman whose insight would provide intellectual grounding to the discourse on fiscal reforms.
“As we reflect today, let us remain focused on the bigger picture, building a Nigeria where taxation supports enterprise, strengthens equity, protects the vulnerable, and funds the aspirations of our people,” Abbas said.
The Federal Inland Revenue Service (FIRS) reaffirmed its commitment to press freedom and called for a stronger collaboration between the media and tax authorities in deepening public understanding of fiscal reforms.
Special Assistant to the FIRS Chairman on Tax Policy, Mr. Olufemi Olarinde, who represented the Executive Chairman, Dr. Zacch Adedeji, acknowledged the historic role of the press as the “Fourth Estate of the Realm.”
He said its influence on public opinion makes it indispensable to the success of Nigeria’s economy and tax reforms.
Olarinde urged journalists to go beyond surface reporting by acquainting themselves with the new tax laws, insisting that effective communication of reforms can only come from deep understanding.
“In Latin, we say nemo dat quod non habet, you cannot give what you do not have. If we must speak and enlighten the public about these reforms, then it is important we first understand them ourselves,” Olarinde said.
