One year after President Bola Tinubu signed Nigeria’s landmark tax reform laws, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has expressed concern that many Nigerians still view taxation as a way for government to take money from citizens rather than a tool for national development. Africans& Diaspora

Speaking in Abuja when a delegation from the Chartered Institute of Taxation of Nigeria (CITN) paid him a courtesy visit to mark the 2026 National Tax Awareness Day, Oyedele said public perception of taxation remains one of the biggest challenges facing the country’s revenue system.

According to him, Nigeria’s problem is not necessarily the need to impose more taxes but ensuring that those who are expected to pay taxes actually do so.

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

The minister noted that a well-functioning tax system could significantly accelerate Nigeria’s development and improve public services across the country. Africans& Diaspora

“If Nigeria gets its tax system right, the level of development will be monumental,” he stated.

Oyedele commended CITN for introducing the National Tax Awareness Day and for its support of the Federal Government’s tax reform programme. He urged the institute to intensify efforts to educate citizens on the benefits of taxation and also proposed the creation of annual awards to recognise outstanding tax-compliant individuals and businesses.

Earlier, officials of CITN visited the headquarters of the Nigeria Revenue Service (NRS), where they were received by the Executive Director of Finance and Corporate Services, Mohammed Abubakar, who represented the Executive Chairman of the Service, Dr. Zacch Adedeji.

Addressing the delegation, Abubakar described the anniversary as a significant moment in Nigeria’s tax administration journey, coming exactly one year after the signing of the tax reform legislation. Africans& Diaspora

“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 said.

He explained that the reforms were designed to create a tax system that citizens can trust while making greater use of technology and improving service delivery for both individuals and businesses.

The visit formed part of activities marking the 2026 National Tax Awareness Day and took place at the newly commissioned NRS headquarters in Abuja. The event brought together senior officials of the revenue service, members of the CITN Governing Council, tax professionals and other stakeholders in Nigeria’s tax sector.

Also speaking at the event, the Executive Director for Technology and Innovation at NRS, Iniabasi Akpan, said the Service is embracing technology to improve tax administration and make compliance easier for taxpayers.

He cited initiatives such as Rev360 and other digital platforms as examples of efforts aimed at delivering modern and efficient tax services.

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Akpan stressed that increasing government revenue requires more than enforcement measures. According to him, taxpayer education, public awareness and confidence in government institutions are critical factors in improving compliance.

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“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,” he said.

The Group Director of the Medium Tax Group, Dr. Gbenga Daniel Adebayo, described the occasion as an important milestone for both tax professionals and the country. He said the NRS would continue working closely with professional bodies and stakeholders to improve taxpayer education, strengthen voluntary compliance and enhance service delivery.

“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,” he added. Africans& Diaspora

The President of CITN, Mr. Innocent C. Ohagwa, said the institute had observed widespread misunderstanding of the tax reforms since their introduction a year ago.

According to him, many Nigerians wrongly believe that the reforms introduced new taxes on virtually every economic activity, while others assume the changes were designed solely to increase government revenue without considering the welfare of citizens and businesses.

“Some people believe the reforms introduced entirely new taxes on every aspect of economic activity. Others have assumed that the reforms were designed solely to increase government revenue without considering the welfare of taxpayers. Some business owners have expressed concerns about compliance obligations without fully understanding the reliefs and protections available to them,” he said.

Ohagwa explained that the reforms contain several provisions intended to reduce the burden on households and businesses.

For individuals, he said taxpayers can now claim rent relief of up to 20 per cent of annual rent paid, subject to a maximum of N500,000. He added that essential goods and services including food, education, healthcare, electricity transmission and non-oil exports now enjoy zero-rated Value Added Tax (VAT) treatment.

He further stated that compensation received for loss of employment or personal injury now attracts higher tax exemption thresholds, providing greater financial protection for affected individuals.

For businesses, particularly small enterprises, he described the reforms as transformative. According to him, companies with annual turnover of not more than N100 million and fixed assets not exceeding N250 million are exempt from Companies Income Tax, Capital Gains Tax and the Development Levy.

He said the exemptions would allow thousands of small businesses to reinvest their resources in expansion, job creation and innovation.

The CITN president also pointed to special incentives introduced for sectors such as agriculture, aquaculture, dairy production, cocoa processing and animal feed manufacturing. He said these measures are expected to encourage investment and support efforts to improve food security.

Ohagwa, however, reminded taxpayers that enjoying the benefits of the reforms comes with responsibilities. He urged individuals and businesses to obtain Tax Identification Numbers where necessary, maintain proper records, file accurate returns and pay taxes promptly.

“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 government must uphold accountability, transparency and the effective use of public resources,” he said.

As part of activities marking the National Tax Awareness Day, members of CITN also visited Wuse Market in Abuja where they sensitised traders and business owners on the provisions and benefits of the new tax reforms, while encouraging voluntary compliance with tax laws.