By Mercy Aikoye, Abuja
Nigeria’s tax reforms are a crucial step towards stabilizing the country’s fragile economy. Former Speaker Yakubu Dogara described the reforms as “the most audacious fiscal overhaul in decades”.
When President Bola Tinubu assumed office in 2023, Nigeria’s economy was on the brink of collapse. Dogara highlighted “reckless” printing of N22.7 trillion and dual exchange rates as part of the financial chaos inherited.
The reforms consolidated 16 statutes into four Acts: Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service Act, and Joint Revenue Board Act. This framework aims to protect the poor, empower businesses, and ensure fairness.
Dogara urged citizens to see taxation as a covenant of trust. “True reform is not about raising rates but about raising trust,” he said. The success of the reforms will be measured by their impact on transparency, equity, and national competitiveness.
CISLAC supports the reforms, urging transparency and fairness. “Nigeria is losing revenue due to tax avoidance and evasion,” Executive Director Auwal Rafsanjani said.
Speaker Tajudeen Abbas commended the reforms, describing them as a “decisive step toward simplifying compliance”. The harmonization of tax collection processes will take effect in January 2026.
Journalists must go beyond surface reporting and understand the new tax laws. Poor communication can distort objectives and create misconceptions.
The tax reforms mark a new chapter in Nigeria’s economic development. With careful implementation, they can lead to a brighter future for Nigeria and its citizens.
