Oyedele seeks wider tax net as Nigeria targets higher revenue

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said Nigeria’s tax challenge is not about raising taxes but expanding the number of taxpayers.

Speaking on Thursday during a courtesy visit by the Chartered Institute of Taxation of Nigeria (CITN) following its maiden National Tax Awareness Day, Oyedele said many Nigerians still misunderstand the country’s tax reforms.

“We are still not getting enough revenue from taxes; it is not about increasing taxes, but making sure that those who are supposed to pay taxes pay. We want to promote fairness in tax administration.”

He also urged the Institute to introduce annual awards recognising Nigeria’s most tax-compliant citizens and businesses to encourage voluntary compliance.

Earlier, CITN President, Innocent Ohagwa, said the awareness campaign was organised because many Nigerians still do not understand the reforms despite one year of implementation.

“The laws have been signed, implementation has begun, yet many taxpayers and stakeholders are still grappling with what has changed, what remains the same, and how these provisions affect their businesses and personal affairs.”

Ohagwa highlighted some of the incentives introduced under the reforms, including rent relief, zero-rated VAT on essential goods and services, and tax exemptions for qualifying small businesses.

“This means thousands of small businesses can now reinvest in growth, job creation, and innovation.”

He, however, reminded Nigerians that tax compliance remains compulsory.

“Compliance is not a burden; it is a civic duty. It is our collective contribution to nation-building. And taxation works best when there is trust — taxpayers must fulfil their obligations, while the government must uphold accountability, transparency and the effective use of public resources.”

Receiving the CITN delegation at the Nigerian Revenue Service, Executive Director of Finance and Corporate Services, Mohammed Abubakar, representing Executive Chairman Dr Zacch Adedeji, described the reforms as a major milestone.

“That historic milestone signalled the beginning of a new era in Nigeria’s tax administration, one anchored on simplicity, fairness, transparency, efficiency, and service delivery.”

He added:

“Taxpayers are more likely to comply when they understand their obligations, appreciate the value of taxation and have confidence in the institutions administering our tax laws.”

Also speaking, Group Director of the Medium Tax Group, Dr Gbenga Daniel, reaffirmed the agency’s collaboration with CITN.

“The Nigerian Revenue Service values its longstanding partnership with CITN. Together, our institutions share a common vision of improving tax administration and fostering voluntary compliance for national development.”

President Bola Tinubu signed the Nigeria Tax Act and three other tax reform laws on June 26, 2025, marking the country’s biggest tax overhaul in decades.