New Tax Law is for Accountability, Transparency, and Prosperity for All, Says Accountability Group

For many Nigerians, the word “reform” has become synonymous with disappointment. Over the years, successive governments have introduced policies promising change, yet most have left citizens worse off.

From failed subsidies to ambitious economic blueprints that never took root, the average Nigerian has learned to take official pronouncements with more than a pinch of salt. So, it is only natural that the newly passed Tax Reform Acts are being met with skepticism.

However, amid the justifiable doubt lies a compelling truth: this reform is unlike anything the country has attempted before and has been tagged “the fastest working committee within 2 years.” It speaks not only to revenue collection but to fairness, inclusion, and rebuilding trust between the people and their government.
As explained by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee: “We are not just fixing the tax code, we’re rebuilding trust.”

Nigeria’s taxation system has long been broken, riddled with duplication, informality, and deep-seated inefficiencies. The poor are often the most burdened, while the rich and powerful find ways to evade responsibility. Businesses, particularly small ones, are suffocated by levies from multiple agencies, many of which overlap or contradict one another.
Oyedele also mentioned that, “the poorest people have been carrying the country, its almost like we should just declare a holiday for them and let the rich people also now play their part”

This chaos hasn’t just stifled growth; it has bred distrust. Most citizens believe taxation is simply another tool for harassment, not a means to fund national development. The government, in turn, loses revenue it could have used for roads, education, and healthcare.

The new tax policy aims to dismantle this dysfunctional model by introducing a cleaner, fairer, and more transparent system. It’s not just about collecting more money; it’s about doing it right.

First, the policy introduces a progressive tax structure, which removes low-income earners from the tax net altogether. For once, those struggling to survive daily won’t be targeted in the name of national revenue. The shift acknowledges that equity must be central to taxation and that real wealth, not poverty, should fund government operations.

Second, the reform simplifies the tax landscape by eliminating over 50 overlapping taxes and levies. This step alone reduces the opportunities for extortion and double taxation, especially at the local and state levels. Small businesses, the backbone of Nigeria’s economy, now have a chance to breathe and grow without being drowned by endless demands from multiple authorities.

“Nobody earning below ₦250,000 monthly will pay tax because they don’t even have enough,” according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, during an interview on Channels Television.

Furthermore, the reform prioritizes digital systems and automation. From filing to tracking payments, the processes will now be technology-driven. That means fewer manual errors, less corruption, and more transparency. It also strengthens compliance without punishing ordinary citizens.

Unlike previous reforms that relied on promises, this one comes with structures already being put in place. The goal is to ensure immediate impact once implementation begins. From streamlined taxpayer identification to unified digital platforms, the emphasis is on building systems that are easy to understand, accessible to the public, and difficult to manipulate.
“You will begin to see results immediately, it’s not just about the laws; it’s about the structures we’ve already put in place,” Oyedele emphasized on Channels TV.

Also critical is the introduction of new accountability mechanisms. The plan includes tools that will enable Nigerians to track how tax revenues are being used. For a country where citizens often feel disconnected from the decisions made with public funds, this could be a turning point.

These reforms are not just technical changes; they represent an opportunity to reset the relationship between citizens and the state. They acknowledge that governance must serve the people, and that the people, in return, must have a stake in governance.

If implemented effectively, this tax reform could mean better roads, a more reliable power supply, improved healthcare, and functioning public schools. But beyond infrastructure, it could mean something even more significant: trust. Trust that the government is finally putting people before politics. Trust that taxation is not exploitation, but a shared contribution to national progress.

Nigerians must remain vigilant, but also hopeful. We can demand better without shutting down meaningful progress. We can criticize policy gaps while still supporting what works. The instinct to dismiss every government initiative as doomed is understandable, but it can also be self-defeating.

This reform may not be perfect. No policy ever is. But it offers something previous ones lacked: a structure designed with people, not just numbers, in mind. If citizens stay informed and insist on transparency, this could be the moment Nigeria turns a corner.

This tax reform is not the enemy. It is a tool that, if wielded with discipline and integrity, can help lift millions out of poverty, unlock growth, and restore faith in governance. Nigerians have every right to question. But perhaps, this time, we also have a reason to believe.