By George OPARA
Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms has outlined a core strategy for Nigeria’s tax reform agenda: to generate more government revenue by making sure everyone who is supposed to pay taxes actually does so, rather than punishing existing taxpayers with higher rates.
He, therefore, emphasized, “Nigeria’s revenue challenge is not about raising tax rates but expanding the number of taxpayers through enhanced compliance and public awareness”..
Oyedele made the remarks in Abuja while receiving the leadership of the Chartered Institute of Taxation of Nigeria (CITN) after the Institute’s maiden National Tax Awareness Day, which featured taxpayer sensitisation at Wuse Market and a courtesy visit to the Nigerian Revenue Service (NRS).
The event dovetailed with one year since President Bola Tinubu signed Nigeria’s landmark Tax Reform Acts into law on June 26, 2025.
While hailing the Institute for supporting the Federal Government’s tax reform agenda, Oyedele said misconceptions about taxation remain one of the biggest barriers to voluntary compliance.
“We are still not getting enough revenue from taxes; it is not about increasing taxes, but ensuring that those who are supposed to pay taxes actually do so. We want to promote fairness in tax administration,” he said.
He further explained that an efficient tax system would transform national development and urged CITN to institute annual awards recognising Nigeria’s most compliant taxpayers to encourage voluntary compliance.
Before now, CITN President Innocent Ohagwa said the awareness campaign was introduced to bridge knowledge gaps surrounding the country’s tax reforms.
He acknowledged that although the new tax laws have been in force for one year, many Nigerians still misunderstand their provisions.
According to him, the reforms provide significant incentives, including rent relief of up to 20 percent of annual rent paid, subject to a maximum of N500,000, zero-rated Value Added Tax on essential goods and services, and tax exemptions for qualifying small businesses with an annual turnover of not more than N100 million and fixed assets below N250 million.
Ohagwa underscored that while the reforms provide relief and incentives, tax compliance remains a civic responsibility.
He enjoined taxpayers to get Tax Identification Numbers, maintain proper records, file accurate returns on time, and seek professional guidance where necessary.
Also, officials of the Nigerian Revenue Service reaffirmed their commitment to strengthening taxpayer education and leveraging digital platforms to improve compliance and service delivery.
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