More Nigerians must pay tax, not pay more, says Oyedele

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the country can improve its tax revenue by bringing more eligible citizens and businesses into the tax system rather than imposing higher tax rates.

Speaking in Abuja on Thursday during a courtesy visit by the leadership of the Chartered Institute of Taxation of Nigeria (CITN), Oyedele said the Federal Government’s priority was to widen the tax base and ensure fairness in tax administration.

The visit marked the conclusion of the Institute’s first National Tax Awareness Day, which featured a road walk, taxpayer education at Wuse Market and a visit to the headquarters of the Nigerian Revenue Service.

The event also coincided with the first anniversary of President Bola Tinubu’s signing of the Tax Reform Acts into law on June 26, 2025.

Oyedele praised the Institute for supporting the government’s tax reform programme, noting that misconceptions about taxation continue to discourage compliance. He observed that many Nigerians wrongly assume that every discussion about tax reforms is aimed solely at increasing the amount citizens pay.

“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 said.

He added that an efficient and equitable tax system would significantly strengthen Nigeria’s economic development. The minister also encouraged the Institute to introduce annual awards recognising the nation’s most compliant taxpayers, saying such recognition would encourage voluntary tax payment.

Earlier, the President of the Chartered Institute of Taxation of Nigeria, Innocent Ohagwa, said the National Tax Awareness Day was created to improve public understanding of the country’s tax reforms and encourage voluntary compliance.

According to him, although the new tax laws have been in operation for a year, many individuals and businesses are still unclear about the changes and their implications.

“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,” he said.