FG’s tax reform will boost Nigeria’s revenue generation – CITN president says
The Chartered Institute of Taxation of Nigeria (CITN) has expressed confidence that the Federal Government’s tax reform initiatives will enhance revenue generation and improve the overall taxation system in the country.
Speaking to journalists on Friday in Jos, Mr. Samuel Agbeluyi, President of CITN, emphasized that the proposed tax reforms signal positive developments for Nigeria’s fiscal landscape. Agbeluyi was in Jos for CITN’s first Council Meeting for 2025, where key taxation issues were discussed.
According to the News Agency of Nigeria (NAN), Agbeluyi highlighted that if the tax reform bills are passed into law, they will introduce much-needed orderliness in the practice and administration of taxation across the country.
“As an institute, we are happy over the ongoing dialogue on the new tax bills; if these bills are passed into law, it will make the system better. The reform will improve the revenue of the nation,” Agbeluyi stated.
Benefits of the tax reform bills
The CITN president noted that the proposed reforms are not aimed at imposing higher tax rates on Nigerians but rather at streamlining and improving tax administration.
“The reform will improve the revenue of the nation. I’m not talking about increased tax rates for Nigerians but about the efficiency and structure the reform will bring to tax administration in the country,” he explained.
Agbeluyi acknowledged that no tax legislation is perfect, but stressed that the proposed framework could be amended when necessary to adapt to changing economic realities.
“There is no perfect document anywhere in the world, and so the new tax document can be amended when the need arises. I urge Nigerians to support the proposed reform because it is a good omen for the nation,” he added.
CITN Council Meeting and Policy Discussions
The two-day CITN Council Meeting in Jos served as a platform for members to deliberate on critical issues affecting Nigeria’s tax regime. The forum provided an opportunity to explore strategies for strengthening tax compliance, expanding the tax base, and addressing loopholes in the current system.
- The CITN president reiterated the institute’s commitment to collaborating with the government and other stakeholders to ensure the successful implementation of tax reforms.
- With the Nigerian government actively seeking ways to increase internally generated revenue (IGR) and reduce dependence on crude oil, taxation reforms have become a crucial tool for economic stability and growth. Stakeholders, including CITN, continue to advocate for a more transparent and equitable tax system to foster national development.
- In February, the Senate held a two-day public hearing on proposed tax reform bills, bringing together key stakeholders from the nation’s economic and financial sectors to discuss and shape crucial fiscal policies.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, the Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, members of the Federal Executive Council, heads of relevant agencies, and the Comptroller General of Customs, Adewale Adeniyi, among others attended the sessions.
