Oyedele Calls For Wider Tax Compliance Among Nigerians

According to Ireporter Online, Oyedele made this known on Thursday in Abuja while receiving the leadership of the Chartered Institute of Taxation of Nigeria (CITN) at the Federal Ministry of Finance, shortly after the Institute’s maiden National Tax Awareness Day, which featured a road walk, taxpayer sensitisation at Wuse Market, and a visit to the headquarters of the Nigerian Revenue Service.

The event also coincided with the first anniversary of the signing of Nigeria’s landmark Tax Reform Acts by President Bola Tinubu on June 26, 2025.

Commending CITN for its role in supporting ongoing fiscal reforms, Oyedele noted that one of the major obstacles to tax compliance in the country is widespread misunderstanding of taxation and public misconceptions about government revenue drives.

He stressed that the focus of government was not to increase tax burdens but to ensure fairness and widen compliance across all sectors of the economy.

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

The minister added that effective tax administration would significantly boost national development and urged professional bodies to support efforts that encourage voluntary compliance. He also proposed the introduction of annual awards to recognise Nigeria’s most compliant taxpayers as a way of strengthening tax culture.

Earlier, the 17th President of the CITN, Innocent Ohagwa, led members of the institute to Wuse Market for an awareness campaign aimed at educating traders and business owners on the new tax reforms and addressing misconceptions surrounding their implementation.

Ohagwa explained that although the tax laws had been signed and implementation had begun, many taxpayers still lacked clarity on what had changed and how the reforms affected their businesses.

He noted that the reforms include several reliefs and incentives, such as rent relief of up to 20 percent of annual rent paid (capped at N500,000), zero-rated VAT on essential goods and services including food, education, healthcare, electricity transmission, and non-oil exports, as well as higher tax exemption thresholds for compensation related to job loss or injury.

He further stated that small businesses with annual turnover not exceeding N100 million and fixed assets not more than N250 million are exempted from Companies Income Tax, Capital Gains Tax, and Development Levy, describing the provision as a major boost for entrepreneurship and job creation.

Ohagwa also highlighted targeted incentives for key sectors such as agriculture, aquaculture, dairy production, cocoa processing, and animal feed manufacturing, alongside tax credits under the Economic Development Incentive framework.

Despite these incentives, he emphasized that tax compliance remains a legal obligation, describing it as a civic responsibility essential for nation-building.

He urged taxpayers to obtain Tax Identification Numbers, maintain proper financial records, file accurate returns on time, and seek professional assistance where necessary.

The CITN leadership later visited the headquarters of the Nigerian Revenue Service, where officials reaffirmed their commitment to strengthening taxpayer education, voluntary compliance, and modernizing tax administration through digital platforms such as Rev360.

Receiving the delegation, the Executive Director of Finance and Corporate Services, Mohammed Abubakar, said the reforms marked a new era in tax administration built on fairness, transparency, efficiency, and improved service delivery.

He added that sustainable revenue generation depends not only on enforcement but also on public trust and awareness.

“The Nigerian Revenue Service values its longstanding partnership with CITN. Together, our institutions share a common vision of improving tax administration and fostering voluntary compliance for national development,” he said.

The event brought together senior government officials, tax professionals, and industry stakeholders, reinforcing the push for broader tax awareness and improved compliance across the country.