Nigeria Will See Monumental Development With a Proper Tax System — Oyedele

By Emma Ujah, Abuja Bureau Chief

The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, said yesterday that Nigeria could experience significant progress if its tax system is properly reformed.

He spoke while receiving a delegation from the Chartered Institute of Taxation of Nigeria (CITN) in his office in Abuja.

The minister praised CITN’s leadership for launching a National Tax Awareness Day and for supporting the federal government’s tax reform agenda.

He urged the institute to intensify its efforts, noting that “many Nigerians still believe that when the government talks about tax it is simply to take money from the people.”

Oyedele added that the government is still not collecting enough tax revenue, but its strategy is to broaden the tax net rather than raise tax rates.

“We are still not getting enough revenue from tax; it is not about increasing tax, but ensuring that those who are supposed to pay tax actually do. We want to promote fairness in tax administration,” he said.

During his remarks, CITN President and Council Chairman, Mr. Innocent Ohagwa, who led the delegation, said: “Over the past year, we have observed numerous misconceptions surrounding the reforms. Some people believe the reforms introduced entirely new taxes on every aspect of economic activity.”

“Others have assumed that the reforms were designed solely to increase government revenue without considering the welfare of taxpayers.”

“Some business owners have expressed concerns about compliance obligations without fully understanding the reliefs and protections available to them, leading to confusion and unnecessary anxiety, due to conflicting information from social media.”

The CITN president also emphasized that tax compliance is not a burden but a civic duty and a collective contribution to nation‑building.

“And taxation works best when there is trust – taxpayers must fulfill their obligations, while the government must uphold accountability, transparency and the effective use of public resources,” he said.