Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated that implementing an effective tax system is essential for Nigeria to achieve significant national development. During a meeting in Abuja with representatives from the Chartered Institute of Taxation of Nigeria (CITN), the minister praised the organization for promoting National Tax Awareness Day and supporting federal reform efforts.
Oyedele emphasized that current public perception often views taxation as merely a way for the state to extract funds. He clarified that the government’s priority is to broaden the existing tax base rather than raising tax rates. The goal is to ensure that all eligible taxpayers contribute fairly.
Innocent Ohagwa, the President and Chairman of the Council for the CITN, noted that public confusion surrounds these reforms. Many citizens wrongly fear that the government is imposing new levies or ignoring taxpayer welfare. Ohagwa highlighted the need to educate business owners about the available protections and reliefs, noting that tax compliance serves as a fundamental civic duty. He concluded that effective taxation relies on mutual trust, requiring government transparency and accountable management of public funds.
