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  • Why is opposition afraid of tax reforms?

    Why is opposition afraid of tax reforms?

    By Bode Opeseitan

    As they filed into the press hall at Shehu Musa Yar’Adua Centre, the desperation was not just audible, it was visible. 

    From the African Democratic Congress (ADC) to members of the Peoples Democratic Party (PDP) and Labour Party (LP) like Solomon Dalung, Kenneth Okonkwo and Chille Igbawua, who spoke for the group tagged Nigeria Opposition Movement, the gathering looked less like a united front and more like a wounded chorus.

     They were joined by others like activist Aisha Yesufu. 

    Their demand? That the federal government suspend the new tax laws set to take effect in January 2026. Their claim? That the reforms are exploitative. Their vow? Lawful resistance. Their appeal? That Nigerians join their petition against what they called a harmful policy.

     But harmful to whom?

    In a democracy where opposition voices have thinned to the point of near extinction, any moment of protest deserves scrutiny. Especially when it masquerades as concern for the masses but smells unmistakably of political mischief.

    Unlike the backdoor decrees of the past, this tax reform journey was one of the most consultative in Nigeria’s legislative history. Town hall meetings were held across all six geo-political zones. The policy was debated with the Governors’ Forum, Labour Congress, Manufacturers Association, and civil society. Media interviews were granted. National Assembly hearings were attended. Compromises were reached. The National Assembly passed the bills. The President signed them into law. Implementation was deferred until January 2026 to allow for public awareness and institutional readiness.

    READ ALSO: US: How not to engage a changing continent

    This is not how a government hides a harmful policy. This is how a responsible state builds consensus.

    Now to the substance. The 2026 tax reforms are not a punitive ambush but a structural correction. They exempt individuals earning below N800,000 annually from personal income tax. They shield small businesses with turnover below N100 million from Company Income Tax, VAT, and the new Development Levy. They consolidate four separate levies such as TETFund, NITDA, NASENI, and the Police Trust Fund into a single 4% Development Levy, making compliance simpler and more transparent. They introduce a 15% minimum tax on multinationals, aligning Nigeria with global standards and ending the era of corporate freeloading. And they modernize tax administration through a new Nigeria Revenue Service, digitizing processes and reducing corruption.

    The reforms are not just about revenue, they are about fairness. They are about shifting the burden from the poor to those who can afford to pay. They are about ending the chaos of multiple taxation and replacing it with clarity. They are about funding education, healthcare, and infrastructure not through loans and handouts, but through a fair, long-term agreement where citizens and businesses contribute their share via taxes, and the government delivers public goods transparently and efficiently.

    So why the outrage?

    The opposition says the reforms ignore ASUU and doctors’ strikes. But tax reform is not a labor negotiation, it is the foundation for funding those very sectors. They say the policy is harmful. But the facts show it protects the poor, empowers SMEs, and targets the top end of the economy. 

    They claim to speak for the people. But where were they when the Lagos-Calabar Coastal Road was ridiculed, by the same opposition, only to become a national marvel in the making? Where were they when the student loan scheme was dismissed, only to become a lifeline for over 788,947 Nigerian students through NELFUND, with over N154.3 billion disbursed in just 19 months?

    This is not principled opposition. This is political rascalism.

    And it is not new. The same voices that now cry foul once fought against every reform that has since become a national asset. They have not evolved. They have not learned. They have not earned the right to be taken seriously.

    Seeing Kenneth Okonkwo there gave pause. He has, at times, shown flashes of rational thinking. Was this a moment of misjudgment, or a perfidy he walked into, doing the bidding of others?

     This is not how opposition should behave. To be credible, they must raise issues that reflect the lived realities of Nigerians, not hide behind the fig leaf of public interest while shielding the privileges of their moneyed patrons. Nigerians are smarter than that. They know when politicians are clowning, which they do often. They know when they are genuinely fighting for the common good, which unfortunately they rarely do.

    This protest failed the test of scrutiny. And history will remember it as such.

    • Opeseitan, a commentator, wrote from Lagos

  • Tax Reforms push-back: Opposition’s political gimmickry or genuine love for masses?

    Tax Reforms push-back: Opposition’s political gimmickry or genuine love for masses?

    • By Bode Opeseitan

    As they filed into the press hall at Shehu Musa Yar’Adua Centre, the desperation was not just audible, it was visible.

     From the African Democratic Congress (ADC) to members of the Peoples Democratic Party (PDP) and Labour Party (LP) like Solomon Dalung, Kenneth Okonkwo and Chille Igbawua, who spoke for the group tagged Nigeria Opposition Movement, the gathering looked less like a united front and more like a wounded chorus.

     They were joined by others like activist Aisha Yesufu.

     Their demand? That the federal government suspend the new tax laws set to take effect in January 2026. Their claim? That the reforms are exploitative. Their vow? Lawful resistance. Their appeal? That Nigerians join their petition against what they called a harmful policy.

     But harmful to whom?

     In a democracy where opposition voices have thinned to the point of near extinction, any moment of protest deserves scrutiny. Especially when it masquerades as concern for the masses but smells unmistakably of political mischief.

     Unlike the backdoor decrees of the past, this tax reform journey was one of the most consultative in Nigeria’s legislative history. Town hall meetings were held across all six geo-political zones. The policy was debated with the Governors’ Forum, LabourCongress, Manufacturers Association, and civil society. Media interviews were granted. National Assembly hearings were attended. Compromises were reached. The National Assembly passed the bills. The President signed them into law. Implementation was deferred until January 2026 to allow for public awareness and institutional readiness.

     This is not how a government hides a harmful policy. This is how a responsible state builds consensus.

     Now to the substance. The 2026 tax reforms are not a punitive ambush but a structural correction. They exempt individuals earning below ₦800,000 annually from personal income tax. They shield small businesses with turnover below ₦100 million from Company Income Tax, VAT, and the new Development Levy. They consolidate four separate levies such as TETFund, NITDA, NASENI, and the Police Trust Fund into a single 4% Development Levy, making compliance simpler and more transparent. They introduce a 15% minimum tax on multinationals, aligning Nigeria with global standards and ending the era of corporate freeloading. And they modernize tax administration through a new Nigeria Revenue Service, digitizing processes and reducing corruption.

    Read Also: CBN asks banks to configure ATMs, POS terminals for foreign card transactions

     The reforms are not just about revenue, they are about fairness. They are about shifting the burden from the poor to those who can afford to pay. They are about ending the chaos of multiple taxation and replacing it with clarity. They are about funding education, healthcare, and infrastructure not through loans and handouts, but through a fair, long-term agreement where citizens and businesses contribute their share via taxes, and the government delivers public goods transparently and efficiently.

     So why the outrage?

     The opposition says the reforms ignore ASUU and doctors’ strikes. But tax reform is not a labor negotiation, it is the foundation for funding those very sectors. They say the policy is harmful. But the facts show it protects the poor, empowers SMEs, and targets the top end of the economy.

     They claim to speak for the people. But where were they when the Lagos-Calabar Coastal Road was ridiculed, by the same opposition, only to become a national marvel in the making? Where were they when the student loan scheme was dismissed, only to become a lifeline for over 788,947 Nigerian students through NELFUND, with over ₦154.3 billion disbursed in just 19 months?

     This is not principled opposition. This is political rascalism.

     And it is not new. The same voices that now cry foul once fought against every reform that has since become a national asset. They have not evolved. They have not learned. They have not earned the right to be taken seriously.

     Seeing Kenneth Okonkwo there gave pause. He has, at times, shown flashes of rational thinking. Was this a moment of misjudgment, or a perfidy he walked into, doing the bidding of others?

     This is not how opposition should behave. To be credible, they must raise issues that reflect the lived realities of Nigerians, not hide behind the fig leaf of public interest while shielding the privileges of their moneyed patrons. Nigerians are smarter than that. They know when politicians are clowning, which they do often. They know when they are genuinely fighting for the common good, which unfortunately they rarely do.

     This protest failed the test of scrutiny. And history will remember it as such.

  • ‘Tinubu’s tax reforms most audacious in Nigeria’s history – Olori

    ‘Tinubu’s tax reforms most audacious in Nigeria’s history – Olori

    Elder statesman and renowned businessman, Olorogun Morrison Olori, has described the tax reforms introduced by the Federal Government led by President Bola Tinubu as the most audacious since Nigeria’s Independence.

    Speaking during a briefing in Ughelli, Delta State, Olori, who is a chieftain of the All Progressives Congress, stated that the reforms represent the administration’s most significant achievement to date, asserting that the measures would steer Nigeria towards rapid economic development.

    “President Tinubu deserves commendation for these audacious tax reforms. No Nigerian leader (President) has taken such a daring and courageous decision in the country’s history. As a businessman with over 60 years of experience, this is the best decision any Nigerian President could make. This is highly commendable,” Olori said.

    A major investor in the real estate, hospitality, and oil and gas sectors, Olori emphasised the importance of sound economic policy, especially tax reform, for any nation striving for progress, urging Nigerians to be grateful for the emergence of President Tinubu at a time he described as a critical juncture for the country.

    “President Tinubu met a dead economy from the late President Muhammadu Buhari. Nigerian governments at all levels were finding it difficult to pay salaries and execute projects. But for the bold decision of the President to remove fuel subsidy, there is now surplus funds, even for councils, to execute projects at the grassroot level,” Olori stated.

    According to him, the reforms are already creating fiscal space for development, and would also resolve long-standing issues such as multiple taxation and under-taxation that have discouraged investment.

    “The tax reforms will, among many things, fix myriads of tax challenges, especially multiple taxation, which has forced many businesses to flee the country. I can confidently tell you that many foreign investors will rush back to do business with the government,” he added.

    Olori also called for transparency and sincere implementation in order to ensure the long-term success of the reforms.

    He commended the Minister of the Federal Capital Territory, Nyesom Wike, and Minister of Aviation, Olorogun Festus Keyamo (SAN), for the “tremendous achievements” in their respective ministries.

    “If Wike remains the minister of the FCT beyond 2027, Abuja would witness unprecedented infrastructural growth. I just returned from the FCT and what Wike is doing there on behalf of Mr. President is so massive. Wike has surpassed the record of any other minister of the FCT. I commend his infrastructural drive and his hunger to achieve more,” he said.

    On Keyamo’s performance, he noted: “Another minister in the Tinubu’s government is Olorogun Festus Keyamo SAN. His record in the aviation cannot be compared. Nigeria under him is signing all necessary agreements to expand our aviation space in the world. Our airports are wearing new looks. I hope he extend his giant strides to Osubi airport.”

    Olori also praised Governor Sheriff Oborevwori for his leadership in Delta State, particularly in terms of infrastructure and fostering peace among the diverse ethnic groups in the region.

    “With the achievements on ground, Deltans would re-elect him for a second term in 2027,” he declared.

  • FIRS lists gain of new tax reforms

    FIRS lists gain of new tax reforms

    The Federal Inland Revenue Service (FIRS), yesterday highlighted the benefits of the new tax law put in place by the Federal Government listing the inherent gain to include strengthening of tax compliance and a boost to the revenue generation of the President Bola Ahmed Tinubu administration.

    Besides, the FIRS said the new tax regime will factor in developments in the aviation sector to ensure that air travel is not severely impacted.

    Assistant Director, FIRS, Mrs. Nkechi Umegakwe, who was the lead speaker at the Webinar organized by Aviation and Allied Company Limited disclosed this while shedding light on the effects of the new tax law on operations in the air transport ecosystem.

    According to the FIRS Assistant Director, Nigeria’s new tax law, enacted through the Finance Act 2023 and signed into law in June 2025, is expected to consider the fragility of the aviation sector, where operators are grappling with a myriad of challenges including the rising cost of operations.

    She stated that the Federal Government had implemented a comprehensive tax reform initiative aimed at enhancing ease of doing business, boosting revenue generation, strengthening tax compliance and aligning the Nigerian tax system with global best practices across key sectors.

    These tax reforms, according to her, introduce significant changes to existing tax law with certain implications for the aviation sector- a critical contributor to Nigeria’s economic growth and employment.

    The former Managing Director of the Federal Airports Authority of Nigeria (FAAN), Dr. Richard Aisuebeogun,  who moderated the webinar said that when the tax base is broadened, it would help the government with money to run the economy.

    But, operators in the sector who participated in the webinar , however, picked holes in the new tax law , saying the anticipated  tax changes planned for implementation in January 2026 run  contrary to the International Civil Aviation Organisation (ICAO)  standards and may lead to fare increases, reduced passenger loads, job losses, and a general decline in the industry, according to operators and experts

    The new tax law , the experts said, may lead to an increase in the cost of tickets, as airlines are already gearing towards that.

    The implication, they say, may occasion many  people shunning  air travel as the number of people who take to air travel is already reducing.

    The experts  called on President Bola Tinubu to cause a review of the tax reform, noting that its implementation restores the resumption of Value Added Tax (VAT) on commercial aircraft, commercial aircraft engines, commercial engine spare parts, airline transportation tickets issued and sold by commercial airlines registered in Nigeria, as double taxation.

    The founder and Managing Director of Landover Company Limited, Capt Edward Boyo, while appealing to the President to take a further look at the tax reform which he admitted has so many benefits but at disadvantage to the growth of the aviation industry in Nigeria urged him and the Director-General of the  Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji to reconsider putting the sector on the priority sector list.

    Boyo noted that with the present situation, it does not look like the government was ready to free the sector from the shackles of multiple taxation and levies, the two twin factors that have seriously plummeted the fortunes of the sector.

    He said, “The country’s economy cannot grow without the aviation industry. Jobs cannot be created if nothing is done to improve the fortune of the industry. We call on the government to review the numerous charges and levies that affect airlines in the country. If not, we may see an increase in air fares because high costs of operation could lead to raising ticket prices”.

    The International Air Transport Association (IATA) Area Manager for West and Central Africa,  Dr. Samson Fatokun, lamented the different levies imposed on airlines and several other companies in the sector, stressing that the new tax law would do incalculable damage to the entire aviation value chain.

    Fatokun further stated that the aviation industry in Nigeria is an offshoot of international aviation bodies like the ICAO, a body of the United Nations, to which Nigeria is a signatory, and has been insulated from charges within.

     “Nigeria is a signatory to ICAO, which is part of the UN, and cannot be bound by another treaty. In domestic aviation, we have VAT and other levies. We recall in 2004, when our President was chairman of the Economic Community of West African States (ECOWAS), there was a document signed by the President saying there wouldn’t be imposition of additional costs on air transportation”.

    Brandishing a copy of the document, Fatokun said the document is available to any airline and experts in the sector, so there won’t be a need to contradict what has been signed.

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     “Those moveable assets cannot be taxed or apply tax law to that. The Nigerian tax authority needs to be in the know about the law governing aviation”, he added.

    An economist and a former Rector of the Nigerian College of Aviation Technology (NCAT), Zaria, Capt. Samuel Caulcrick stated that the major funding of aviation agencies comes from 5% deductions from ticket sales and cargo charges, known as Ticket Sales Charges (TSC) and Cargo Sales Charges (CSC)..

    These charges that are paid for by passengers and remitted to the aviation regulatory body through the airlines are choking, adding, “It has reduced passenger numbers and freight movement. This new reform amounts to double taxation. The Federal Government should exempt aviation from this new tax reform”.

    The Managing Director of Pathfinders International Limited, Mrs. Nkechi Onyenso, said there is a need for further engagement between airline operators and the FIRS because of the loopholes in the tax reform.

    She said adding tax burden to the already stretched airlines and companies in the aviation sector would not only deplete traffic but seriously affect carriers by adding increased costs of operation, even though she admitted the desirability of the tax reforms.

  • Why fiscal transparency could make or break tax reforms

    Why fiscal transparency could make or break tax reforms

    • By Gbenga Oyebode Falana

    When President Bola Tinubu signed into law the 2025 suite of tax reforms – the National Tax Act (NTA), the National Tax Administration Act (NTAA), the Nigeria Revenue Service Act (NRSA), and the Joint Revenue Board Act (JRBA), the nation celebrated what many experts described as a “new dawn” for revenue generation. These laws consolidate tax rules, streamline administration, unify the tax authority, and create stronger federal–state coordination.

    On paper, the reforms address some of Nigeria’s oldest fiscal headaches: a chronically low tax-to-GDP ratio (about 10.8%), poor compliance, fragmented systems, and rampant illicit financial flows (IFFs). Yet, Nigerians know that “beautiful laws” alone do not translate into better governance. The country has a long history of passing ambitious reforms only to watch them falter in implementation.

    This is where the Global Initiative for Fiscal Transparency (GIFT) comes in. Born out of international consensus and adopted by governments across the world, GIFT champions three principles that can make or break Nigeria’s tax reforms: transparency, public participation, and accountability. The real question is not whether Nigeria’s new tax laws are ambitious, but whether the government can operationalise GIFT to make them work for ordinary Nigerians.

    Nigeria’s tax paradox

    Nigeria is Africa’s largest economy, yet one of the continent’s weakest in tax mobilisation. While the average tax-to-GDP ratio in Sub-Saharan Africa hovers around 15–17%, Nigeria lags below 11%. This means the government struggles to generate enough revenue to fund infrastructure, healthcare, education, and social protection. Part of the problem lies in complex, overlapping taxes and a fractured administration. Businesses face multiple levies from federal, state, and local governments, creating confusion and incentives for evasion. Citizens often perceive taxes as unfair, especially when basic services remain poor.

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    Worse still, Nigeria loses billions each year to illicit financial flows from aggressive tax avoidance, profit shifting by multinationals, and outright capital flight. According to Global Financial Integrity, Nigeria loses over $15 billion annually to these leakages. Against this backdrop, the 2025 tax reforms are Nigeria’s boldest attempt in decades to tidy up its fiscal house. But without embedding transparency and accountability, the laws risk becoming another “paper reform.”

    What do the new tax laws actually do?

    •National Tax Act (NTA): consolidates tax rules into a single modern code, replacing outdated, fragmented provisions.

    •National Tax Administration Act (NTAA): provides the administrative backbone, setting rules for compliance, filing, payment, and enforcement.

    •Nigeria Revenue Service Act (NRSA): establishes a unified national tax authority, merging existing agencies into one professionalised body.

    •Joint Revenue Board Act (JRBA): creates a platform for federal and state governments to coordinate, reducing multiple taxation and disputes.

    Together, these Acts promise simpler rules, stronger enforcement, and better coordination. But laws, no matter how well-drafted, cannot rebuild public trust in taxation. Nigerians have heard it all before.

    Why GIFT matters

    GIFT is not a donor programme, nor a foreign imposition. It is a globally recognised framework that says that governments should open their books, involve citizens, and answer for outcomes.

    Applied to Nigeria’s new tax regime, this means:

    1. Transparency: Taxpayers must know how much is collected, where it comes from, and how it is used. Publishing real-time revenue and expenditure data will demystify government accounts and reduce corruption.

    2. Participation: Citizens and businesses should be consulted in designing tax rules and monitoring implementation. This can be through public hearings, digital feedback platforms, or civil society oversight.

    3. Accountability: Agencies like the Nigeria Revenue Service must be held to performance benchmarks, audited independently, and sanctioned when they fall short.

    This presupposes that without these; the reforms will be “laws without trust” technically sound but socially empty.

    Bridging the trust gap

     The greatest obstacle to taxation in Nigeria is not just weak administration, but a trust deficit. Many Nigerians believe taxes disappear into private pockets rather than public goods. This perception drives evasion, fuels resentment, and undermines reform.

    Embedding GIFT principles can bridge this gap. Imagine a system where:

    •Tax collection figures are published monthly, broken down by sector and state.

    •Citizens can track how tax revenues fund roads, schools, or hospitals in their communities.

    •Businesses can lodge complaints through a transparent, time-bound mechanism.

    •Annual reports show not only how much was raised, but what impact it had on jobs, growth, and services.

    Such visibility would change taxation from a coercive burden into a shared civic duty.

    Learning from others

    Countries like South Africa, Kenya, and Brazil have adopted aspects of fiscal transparency to boost compliance. South Africa publishes detailed tax statistics annually, earning credibility with citizens and investors. Kenya’s eCitizen platform integrates tax payments with other government services, improving efficiency and reducing leakages. Brazil’s participatory budgeting experiments show how citizen input can guide spending priorities. Nigeria can adapt these lessons but must go further. With digitalisation and open data tools, it can leapfrog old models and create a world-class transparent tax system.

    Policy steps forward

     To ensure the new tax Acts succeed, Nigeria should:

    1. Mandate open reporting under the NTAA and NRSA: monthly online publication of revenue collected, disaggregated by source.

    2. Institutionalise citizen engagement: create structured consultations with business groups, civil society, and labour unions before major tax policy changes.

    3. Use digital platforms: expand e-filing and real-time dashboards where taxpayers can track payments and receipts.

    4. Strengthen oversight: empower the National Assembly, Auditor-General, and anti-corruption agencies to review tax administration transparently.

    5. Tie taxes to services: earmark visible projects (schools, clinics, roads) financed directly from tax revenue, to demonstrate value.

    The bottom line

    Nigeria’s new tax laws are a bold step, but they are only half the journey. Laws without transparency are dead letters. GIFT offers a way to turn reforms into reality by opening the books, inviting citizens to the table, and holding officials accountable. If Nigeria gets this right, it could finally break the cycle of weak revenues and debt dependency. If it fails, the reforms will join the graveyard of unfulfilled fiscal promises.

    In the end, taxation is not just about numbers. It is about trust, fairness, and shared responsibility. With GIFT, Nigeria has a chance to prove that tax reforms can deliver not only revenue, but renewal.

    • Falana, PhD is Commissioner, Tax Appeal Tribunal, Abuja Panel and Senior Fellow Researcher, African Centre for Tax & Governance.

  • Adedeji hailed for landmark driving tax reforms

    Adedeji hailed for landmark driving tax reforms

    Executive Chair of Federal Inland Revenue Service (Nigeria Revenue Service), Dr. Zacch Adedeji, has been commended over the signing of Tax Reform Bill by President Bola Tinubu.

    In a statement, Arabinrin Atoyebi, Technical assistant on Broadcast Media to Dr. Adedeji, praised the FIRS chief for his leadership, noting he transformed tax administration.

    “We don’t talk enough about institutions in Nigeria. The conversation often centers on individuals. But if we’re serious about building a nation that works, we must shift focus to strengthening systems,” Atoyebi said. “That’s why the Tax Reform Bill is a big deal. Dr. Zacch Adedeji deserves his flowers.”

    The newly signed Tax Reform Bill is seen as a product of thoughtful consultation, public engagement, and coordination with the National Assembly.

    Atoyebi noted that unlike many laws that fizzle out after passage, the bill represents a structured effort toward a fair, inclusive, and efficient tax system.

    She said that since assuming office, Dr. Adedeji has focused on internal reforms at the agency, restructured departments, improved staff welfare, and fostered a performance-driven culture within the organization.

    According to Atoyebi, the transformation shifted the agency’s work environment “from survival to performance.”

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    On the technology front, she noted that the FIRS upgraded its TaxProMax platform, introducing new modules and automating over 80% of operations.

    She said that filing taxes became easier, recordkeeping improved, and service delivery was enhanced, adding that USSD code was also launched, allowing Nigerians to retrieve their TINs and tax clearance certificates without internet access.

    According to her, one of the major milestones under Adedeji’s leadership is the National Single Window Project, which integrates tax, customs, and trade to create a more transparent and coordinated system for businesses.

    “In terms of outcomes, Nigeria’s tax revenue increased from ₦12.36 trillion in 2023 to ₦21.6 trillion in 2024—not by overburdening taxpayers, but by expanding the tax base, closing loopholes, and making compliance simpler. The 2025 target is ₦25.2 trillion, with structures already in place to support the goal,” she said.

    Atoyebi also highlighted Dr. Adedeji’s humane approach to taxation, saying that he has consistently emphasized that poverty should not be taxed, advocating for tax exemptions for small businesses and low-income earners.

    “He also ensured that essential sectors—food, healthcare, education, accommodation, and transportation—remain VAT-free.

    “Dr. Zacch didn’t come seeking applause. He simply got to work,” Atoyebi stated. “In a system where many enter office and leave things worse, he’s proving that one committed leader can change the story.”

    She described Adedeji as an exemplary public servant who has set a new standard in governance, focused, honest, and genuinely working for the Nigerian people.

  • Tax reforms: Analysts list expectation as Bills await President’s assent

    Tax reforms: Analysts list expectation as Bills await President’s assent

    Finance and economic analysts have said the enactment of new tax laws could significantly impact the public and private sectors of Nigeria’s economy.

    They believe the recently passed tax reform bills, which are awaiting   President Bola Tinubu’s assent, could improve revenue generation, simplify the tax system, boost investor confidence, and bring millions of economic actors in the informal sector into a formal tax net.

    The experts who spoke with The Nation are Managing Director, Ambosit Capital Managers, Wahab Balogun and Chief Economist, ARKK Economics and Data Limited, Samson Simon.

    Balogun advised the government to ensure swift implementation of the guidelines once the bills are assented to.    

    He said: “There is a strong demand for transparency and accountability in how tax revenues are collected and deployed, especially in sectors such as health, education and infrastructure”.

    The Ambosit Capital boss also called for intensive taxpayer education campaigns, especially among small business operators and informal workers, who may be unfamiliar with the new provisions.

    “There are concerns that without proper awareness and capacity building, the intended goal of widening the tax base could be compromised”, he said.

    According to him, there is also keen interest in how subnational governments—states and local governments—will respond to the reforms, as the harmonised bills propose a more coordinated and streamlined system of tax collection.

    Balogun also called for strong inter-governmental cooperation to ensure seamless adoption across the federation.

    His words: “Private sector stakeholders have expressed hope that the reforms will improve Nigeria’s ease of doing business by simplifying tax compliance procedures.

    ‘’They point to the cost savings that can accrue to enterprises, especially micro, small, and medium-sized enterprises (MSMEs), if filing processes and documentation requirements are reduced.

    ‘’Some believe that this simplification will not only lower the barriers to formalisation but will also unlock greater access to credit, as more businesses enter the formal economy and become eligible for financial services”.

    He said he is paying close attention to the role of technology in tax administration.

    Balogun also believes that effective digitisation of tax systems was critical to closing leakages, improving compliance rates, and fostering data-driven policymaking.

    According to him, many stakeholders want the  Federal Inland Revenue Service (FIRS) and other tax authorities to expand the use of digital tools to enhance efficiency and taxpayer engagement.

    Another area of focus is the potential impact of the tax reforms on foreign direct investment.

    Balogun argues that by reducing regulatory uncertainty and eliminating arbitrary taxation, the new tax laws are expected to contribute to a more stable and attractive investment environment.

    According to him, international investors are more likely to commit capital when tax laws are clear, predictable, and fairly administered.

    Simon also expressed optimism that the reforms could correct Nigeria’s poor tax-to-Gross Domestic Product (GDP) ratio, which is one of the worst globally.

    According to him, while some have argued that Nigeria has a revenue—not—debt problem, the truth remains that the country struggles with both.

    He pointed out that revenue, not GDP, is what is used to service debt.

    Read Also: Tax reforms better with accurate assets valuation, says NIESV president

    Simon said the new reforms are expected to reverse the trend of revenue leakages and improve fiscal discipline.

    He suggested that incentives should be tied to actual contributions to public coffers, rather than blanket entitlements.

    Simon said that the President would have to strike a balance by ensuring that all citizens, regardless of their economic status, are adequately catered to.

    He also welcomed the idea of harmonising the federal and national revenue services, describing it as a step in the right direction, especially given the federation-wide functions of   FIRS.

    The economist noted the importance of creating a one-stop shop for revenue collection to reduce inefficiencies caused by multiple collection agencies.

    On   Value Added Tax (VAT) distribution, he acknowledged that while consumption-based allocation would be more equitable, tracking where goods are consumed rather than purchased can be difficult.

    He further called attention to the risk of overburdening poor Nigerians with VAT increases, given eroded purchasing power and high inflation.

    Simon, however, welcomed the inclusion of incentives and concessions in the tax reforms, especially for small businesses and infant industries, and expressed hope that, unlike past legislative efforts such as the Petroleum Industry Act, these tax reforms would not falter at the implementation stage.

  • Tinubu restates commitment to comprehensive tax reforms

    Tinubu restates commitment to comprehensive tax reforms

    President Bola Tinubu has reiterated his commitment in undertaking bold and comprehensive reforms to reposition the country’s fiscal architecture for resilience, inclusiveness and economic growth.

    Tinubu spoke yesterday during the 27th Annual Chartered Institute of Taxation of Nigeria (CITN) Tax Conference in Abuja.

    The theme of the conference was, “Taxation for development, policies, law and implementation”

    Represented by the Minister of State for Finance, Dr Doris Uzoka-Anite, the president said the central pillar of the reforms was taxation.

    ”I believe that a robust, transparent and fair tax system is essential not only for financing government operations but also for creating an environment of accountability, stability and long-term development.

    ”Accordingly, the government has taken deliberate steps to restructure and modernise our tax administration and legal framework.

    ”In this regard, the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms marked a significant turning point,” the president said.

    According to him, the committee was tasked to simplify the tax system, broadening the tax base, curb leakages and ensure alignment between fiscal policy and national development objectives.

    “Members of the committee worked tirelessly to achieve their mandates which include addressing issues of multiplicity of taxes and improving coordination between the federal, state and local government tax authorities.

    Read Also: Two years of Tinubu’s impactful economic policies

    “The Federal Government also pushed forward with the Economy Stabilisation Bill, which has now also been passed,” he said.

    He said the success of any reform depended on implementation, adding that the conference presented an opportunity for all stakeholders to explore how policies and laws can be translated into practical and measurable outcomes.

    “This is also an occasion to discuss solutions to long-standing issues such as taxation, informal sector integration, fiscal federalism and equity in taxation. As tax professionals and policy makers, you are the custodians of Nigeria’s tax future.

    “I, therefore, urge you to leverage this platform to engage meaningfully, challenge assumptions and craft pathways that will strengthen our tax institutions, boost revenue and ultimately improve the lives of Nigerians,” Tinubu said.

    The Vice President, Sen. Kashim Shettima, said the theme was an evidence that the CITN acknowledges the centrality of government revenue generation in the achievement of growth and development for any country.

    Shettima was represented by the Special Adviser to the President on Economic Affairs under the Office of the VP, Dr Tope Fasua.

    He said the focus on the tax aspect of revenue conferred a dual responsibility on the taxpayer and the tax administrator (government).

    “Taxation is crucial to the achievement of economic development. We hope to listen to ideas at this conference around how to ensure that a stakeholder’s view is taken right from the policy enactment stage up to the point of implementation.

    “This is bearing in mind that taxation is a continuous affair, and legitimacy is conferred by the delivery of service to taxpayers.

    ”The need for a stakeholder point of view is why the Presidential Committee of Fiscal Policy and Tax Reforms is made up of professionals from diverse walks of life,” he said.

    The 16th President of the CITN Council, Mr Samuel Agbeluyi, said tax was an important factor in every economy.

    He said taxation was not merely a tool for revenue generation but a powerful instrument for promoting equity, redistributing wealth, incentivising growth and funding public services.

    “However, for taxation to truly serve these developmental goals, policy formulation, legal framework and implementation mechanisms must be harmoniously aligned.

    “When policy is progressive, the law is enabling and implementation is both efficient and equitable.

    “The result is a tax system that engenders trust, encourages voluntary compliance and delivers shared prosperity,” Agbeluyi said.

    He said Nigeria faced significant challenges from economy to security and social dimensions, adding that there was a dire need for sustainable solutions.

    “At the heart of these solutions lies our tax system. In this regard, one cannot overlook the commendable effort by the Tinubu-led administration.

    “The work of the Presidential Committee on Fiscal Policy and Tax Reforms reflects a resolute commitment to charting a course for sustainable socio-economic development through effective and efficient taxation system,” he said.

  • Tax reforms better with accurate assets valuation, says NIESV president

    Tax reforms better with accurate assets valuation, says NIESV president

    The President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Victor Alonge, has said the nation’s ongoing tax reform efforts will fare better if accompanied with accurate and professional asset valuation.

    Addressing reporters to mark this year’s International Valuation Day yesterday in Abuja, Alonge described valuation as the cornerstone of effective taxation and economic planning.

    The NIESV president cautioned that bypassing professional valuers would undermine government efforts to revive the economy.

    “No tax policy can succeed without a clear understanding of the true value of assets. Valuation determines what is taxed, how much is taxed, and ensures equity and credibility in the entire process. If you get valuation wrong, everything else will go wrong,” he said.

    This year’s International Valuation Day, with the theme: Tax Reform for National Economic Prosperity: Why Valuation Matters, coincided with the Federal Government’s push for sweeping tax reforms, including a pending Bill before the National Assembly.

    Read Also: FEC approves ‘Nigeria First’ policy to prioritise local content in govt procurement

    Alonge said the timing was apt, as valuation plays a pivotal role in determining a government’s revenue potential through proper assessment of assets.

    The NIESV president highlighted the legal mandate of estate surveyors and valuers in Nigeria, saying the law, specifically the Estate Surveyors and Valuers Registration Board of Nigeria Decree Number 24 of 1975 (now CAP E13 LFN 2007), vests the exclusive responsibility of asset valuation in certified professionals.

    He said: “It is illegal and economically dangerous to assign valuation responsibilities to unqualified firms. Only estate surveyors and valuers are equipped, both legally and professionally, to determine the economic worth of assets. Any deviation is illegal and a disservice to the country’s development.”

    Alonge added that accurate valuation is not only central to taxation but also to national budgeting, procurement, insurance, mortgage finance, and privatisation.

    He urged both public and private institutions to prioritise credible valuation in decision-making.

    Commenting on the government’s recent proposals to tax owners of unoccupied buildings, Alonge expressed support, saying it could help address Nigeria’s housing deficit.

    But the NIESV president cautioned that such measures must not infringe on citizens’ rights.

    “We back this move in principle because it can drive better use of housing stock. But implementation must be fair and mindful of property rights,” he said.

    Alonge reaffirmed NIESV’s alignment with international best practices, saying the institution remained a proud member of the International Valuation Standards Council (IVSC) which promotes transparency and global standards in asset reporting.

  • Tax reforms will fail without accurate asset valuation, says NIESV president

    Tax reforms will fail without accurate asset valuation, says NIESV president

    The President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), ESV Victor Alonge, has declared that Nigeria’s ongoing tax reform efforts will fail without the foundation of accurate and professional asset valuation.

    Speaking during a press conference to mark the 2025 International Valuation Day in Abuja on Monday, Alonge emphasised that valuation is the cornerstone of effective taxation and economic planning, warning that bypassing professional valuers would undermine government efforts to revive the economy.

    “No tax policy can succeed without a clear understanding of the true value of assets. Valuation determines what is taxed, how much is taxed, and ensures equity and credibility in the entire process. If you get valuation wrong, everything else will go wrong,” Alonge stated.

    This year’s International Valuation Day, themed “Tax Reform for National Economic Prosperity: Why Valuation Matters”, coincides with the Federal Government’s push for sweeping tax reforms, including a pending bill before the National Assembly.

    Alonge said the timing is apt, as valuation plays a pivotal role in determining the government’s revenue potential through proper assessment of assets.

    Alonge highlighted the legal mandate of estate surveyors and valuers in Nigeria, noting that the law, specifically the Estate Surveyors and Valuers Registration Board of Nigeria Decree No. 24 of 1975 (now CAP E13 LFN 2007) — vests the exclusive responsibility of asset valuation in certified professionals.

    According to him, “It is illegal and economically dangerous to assign valuation responsibilities to unqualified firms. Only estate surveyors and valuers are equipped, both legally and professionally, to determine the economic worth of assets. Any deviation is illegal and a disservice to the country’s development.”

    Alonge added that accurate valuation is not only central to taxation but also to national budgeting, procurement, insurance, mortgage finance, and privatisation.

    Read Also: Tax reform bill to diversify revenue sources outside oil, says CITN

    He urged both public and private institutions to prioritise credible valuation in decision-making.

    On recent proposals by the Federal Government to tax owners of unoccupied buildings, Alonge expressed support, saying it could help address Nigeria’s housing deficit.

    However, he cautioned that such measures must not infringe on citizens’ rights.

    “We back this move in principle because it can drive better use of housing stock, but implementation must be fair and mindful of property rights,” he said.

    Alonge reaffirmed NIESV’s alignment with international best practices, noting that the institution remains a proud member of the International Valuation Standards Council (IVSC), which promotes transparency and global standards in asset reporting.

    He concluded by calling on the media to sustain its support for public sensitisation around valuation issues and announced the commencement of NIESV’s 2025 Annual National Conference in Abuja.

    The event, which runs through May 10, is expected to host President Bola Ahmed Tinubu as Grand Patron and Senate President Godswill Akpabio as special guest.

    “Nigeria cannot afford to continue taking a valuation for a grant. This is the key to unlocking our economic potential and ensuring prosperity for generations to come,” Alonge added.