• Super Admin
• 06 Mar, 2026

Experts and tax administrators have said Nigeria's ongoing tax reforms are designed to build a fair, efficient and globally aligned tax system capable of strengthening revenue generation and improving fiscal sustainability. They made this known on Thursday in Ibadan during a programme titled "Tax Reforms Simplified," organised by the Initiative for Information, Arts and Culture Development in Nigeria (IACD). The Executive Secretary of the Joint Revenue Board, Olusegun Adesokan, said the reforms, which have formally commenced, are not only aimed at increasing government revenue but also at creating a more coherent and equitable tax framework. According to him, the initiative seeks to align Nigeria's tax administration with global standards while ensuring fairness and transparency for taxpayers. Adesokan explained that with the commencement of the Nigeria Tax Act, 2025 and the Nigeria Tax Administration Act, 2025 on January 1, 2026, the reform process has moved from policy conception to active implementation. He said the focus is now on how effectively stakeholders adapt to the evolving framework. He said: "Nigeria's ongoing tax reforms represent a deliberate and structured effort to modernise tax administration, enhance transparency, and strengthen compliance mechanisms across all levels of government. "For individuals, whether in formal employment or engaged in business or professional activities, the reforms introduce greater data integration, improved identification systems, stronger PAYE monitoring, and enhanced compliance oversight. "These changes demand increased awareness, accurate record-keeping, and proactive engagement with tax obligations." Adesokan added that the reforms are designed to build a more coherent, equitable and globally aligned tax system, noting that individuals who understand the changes will be better positioned to navigate the new tax environment with confidence. A management staff member of the Oyo State Internal Revenue Service (OIRS), Alhaji Lukman Mustapha, assured that the reforms contain adequate safeguards to protect taxpayers. He noted that the new framework promotes transparency and fairness while also encouraging voluntary compliance among individuals and businesses. Also speaking, the Assistant Director, Large Tax Audit, Nigeria Revenue Service, Ibadan, Dr. Olaniyi Falode, said Nigeria could no longer rely heavily on crude oil revenue to sustain its economy. According to him, oil currently contributes less than 10 per cent of the country's revenue needs. Falode explained that the reforms are intended to simplify tax rules, improve the efficiency of tax collection and update existing laws to reflect current economic realities. "The essence of the reform is to simplify tax rules, ensure efficient collection and update tax laws to reflect present realities. Oil is no longer providing up to 10 per cent of what this country needs," he said. In his remarks, the convener of the programme and President of IACD, Dr. Kolade Mosuru, said the reforms have streamlined Nigeria's tax structure into four major segments to make administration easier and enhance compliance. Mosuru added that the programme was organised to educate stakeholders and the public on the new tax regime, stressing that increased awareness and understanding are essential for the success of the reforms and the country's economic growth. Source: https://independent.ng/experts-sensitise-stakeholders-on-tax-reforms-in-ibadan-say-policy-aims-to-build-fairness-efficiency/