President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to comprehensive tax reforms, aimed at creating a robust, transparent, and fair tax system that supports enterprise, reduces poverty, and delivers on national development goals.

Speaking at the 27th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria (CITN), themed: *Taxation for Development: Policies, Law and Implementation,* in Abuja today, President Tinubu highlighted the government’s efforts to restructure and modernize Nigeria’s tax administration and legal framework.

Represented by the Honourable Minister of State for Finance Dr Doris Uzoka-Anite, the President noted that the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms and the passage of the Economic Stabilization Bills into law are significant steps towards simplifying the tax system, broadening the tax base, and ensuring alignment between fiscal policy and national development objectives.

*A robust, transparent, and fair tax system is essential for financing government operations and creating an environment of accountability, stability, and long-term development,* he stated 

The President also emphasized the importance of leveraging technology and data analysis to enhance tax compliance and improve service delivery, citing the digitization of tax processes as a positive development.

President Tinubu called on stakeholders, particularly tax professionals and policymakers, to engage meaningfully and craft pathways that will strengthen tax institutions, boost revenue, and improve the lives of Nigerians. 

The President declared the conference open, expressing confidence that the ideas shared and partnerships formed would contribute significantly to deepening tax reform and development in Nigeria.

As Nigeria embarks on this new chapter in its tax reform journey, the government’s commitment to transparency, fairness, and development is poised to yield significant benefits for the nation’s economy and citizens

The Federal Government has reaffirmed its commitment to partnering with traditional institutions and other relevant stakeholders to drive economic growth and social cohesion in the country.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, gave the assurance today during a courtesy visit to the Lamido of Adamawa, His Royal Highness Dr Muhammadu Barkindo Aliyu Mustapha, Chairman of the Adamawa State Council of Traditional Rulers.

The Minister, who led the Top Management Staff of the Ministry on the courtesy call as part of activities lined up for the 2025 Performance Management Retreat, emphasised the importance of collaborative relationships between the Ministry and traditional institutions.

Represented by the Permanent Secretary, Federal Ministry of Finance, Mrs Lydia Shehu Jafiya, the Minister highlighted the government’s determination to stabilise the nation’s economy and improve the lives of citizens, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

HM Edun outlined various efforts undertaken by the government to reposition the economy, including investing in infrastructure development; creating an enabling environment to attract domestic and foreign investment; implementing fiscal reforms to improve revenue generation and promote sustainable economic growth; supporting farmers and promoting agricultural productivity; as well as investing in education, healthcare, and skills development.

He expressed optimism that these initiatives would yield positive results and improve the lives of Nigerians.

He also thanked the Adamawa State Government and the good people of the State for agreeing to host the retreat.

The Lamido appreciated the Ministry’s initiative and pledged his support for the government’s economic growth and development efforts in Adamawa State.

This visit marked the conclusion of the 2025 Senior Management Staff Retreat and represents a significant step towards fostering collaborative relationships between the Federal Ministry of Finance and traditional institutions—driving economic growth and promoting social cohesion.

As the Ministry continues to leverage these partnerships, it remains committed to working together towards a brighter future for Nigeria

by Ijeoma Chigbu

The Federal Government of Nigeria will pursue diversification of its revenues and adopt greater prudent resource allocation measures to mitigate the impact of low oil prices should it continue, according to Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.

Speaking at a meeting with investors during the ongoing IMF/World Bank Spring Meetings in Washington DC yesterday, Mr Wale Edun emphasized that with the recent reforms embarked upon by the present administration, Nigeria is better positioned to deal with global economic uncertainties.

The meeting was also attended by the Chairman, Senate Committee on Finance, Senator Mohammed Sani Musa; the Deputy Chairman of the House of Representatives Committee for Finance, Hon. Saidu Musa Abdullahi; the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso; the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya and the Director General of the Debt Management Office, Ms. Patience Oniha 

The Minister outlined the government’s strategy to cope with lower oil prices, including prioritizing government expenditure, expanding non-oil exports, and optimizing assets through public-private partnerships. He also highlighted the importance of maintaining fiscal congruence, ensuring timely payment of statutory obligations, and boosting revenue through increased oil production.

With Nigeria’s brent crude currently trading at US $68 compared to the US $75 2025 budget benchmark, the Minister emphasised that the priority of the government will be to ensure that government expenditure continues to meet the priorities of Nigerians, especially on critical infrastructure such as roads, power, and food security. 

*Nigeria is diversifying its economy away from dependence on oil prices, and the extensive work on tax reforms is almost concluded, * Edun stated. *We will do all we can to create an enabling business environment, provide incentives, and implement structural reforms to attract private sector investment, drive growth, and generate revenue,* the Minister added 

With a focus on prudent resource allocation and diversification, Nigeria is poised to navigate the challenges of low oil prices and achieve sustainable economic growth.