Reported by: Agande Richard Aondofa | Edited by: Henry Owen
ABUJA, Nigeria — The Federal Government has highlighted the objectives and implications of ongoing tax and fiscal reforms during a session on “Actualising Tax and Fiscal Reforms: Implications for Businesses” at the 31st Nigeria Economic Summit (#NES31).
Officials emphasized that the goal of the tax reforms is not to increase taxes, but to create a fairer, simpler, and growth-friendly system. Key measures are intended to reduce uncertainty that discourages investment, limit leakages, enhance transparency, and strengthen public accountability.
“The reform process offers a unique opportunity to build a tax system that works for growth, equity, and long-term national prosperity,” the government stated.
Businesses were urged to actively engage with the reform process, ensuring a tax environment that rewards productivity rather than connections. Officials stressed that fiscal stability is a collective responsibility and called on companies to pay their fair share while demanding accountability for public funds.
Participants were also advised to rely on credible sources for information on new tax laws rather than reacting to unverified news headlines.
“This is a moment to strengthen trust between the private sector and government and ensure that tax policies drive national growth,” the session concluded.
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