The Chartered Institute of Directors (CIoD) Nigeria has urged the Federal Government to ensure that the implementation of the new tax regime directly translates into tangible improvements in infrastructure, security, healthcare, and education.
Speaking at a tax symposium organised by the Institute’s Professional Service Group, CIoD President and Chairman, Otunba Adetunji Oyebanji, described tax reform as a national project that offers an opportunity to diversify revenue, achieve fiscal sovereignty, and foster a competitive business environment.
He emphasised that the reforms are designed to be progressive, taxing “the fruits, not the seeds,” while protecting vulnerable populations and ensuring fair contributions from all economic beneficiaries.
Oyebanji stressed the importance of measurable, implementable solutions, streamlined levies, simplified compliance, and effective use of technology.
He called for transparency, clear jurisdictional boundaries among federal, state, and local governments, and the establishment of a robust tax ombudsman mechanism to guarantee accountability.
Prof. Olateju Somorin of Caleb University noted that the current reform, led by the Taiwo Oyedele Presidential Committee, combines tax and fiscal policy improvements, aiming to unify revenue collection, spur economic growth, attract investment, and ensure equity.
CIoD urged all stakeholders to actively participate in shaping a tax system that benefits the nation and strengthens its non-oil revenue base starting January 1, 2026.
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