HomeEconomyTinubu approves establishment of committee to oversee implementation of tax reforms

Tinubu approves establishment of committee to oversee implementation of tax reforms

The presidency on Friday announced the inauguration of a National Tax Policy Implementation Committee to drive the rollout of the administration’s recently enacted tax reforms.
According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, the committee is expected to translate the government’s tax objectives into actionable policies that align with Nigeria’s broader economic goals.

Joseph Tegbe, director-general of the Nigeria-China Strategic Partnership (NCSP), has been appointed as chairman of the committee, while Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, will oversee its operations.

Onanuga said the committee brings together seasoned professionals from tax administration, finance, legal practice, the private sector, and civil society, ensuring that policy implementation reflects diverse expertise and perspectives.

“The committee will conduct extensive engagements with both public- and private-sector stakeholders to gather wide-ranging input for the implementation process,” the statement said.

He noted that Tegbe is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Taxation of Nigeria (CITN), with more than three decades of experience across public and private institutions, including his former role as Senior Partner and Head of Advisory Services at KPMG Africa.

Mrs. Sanyade Okoli, Special Adviser to the President on Finance and Economy, will serve as secretary of the committee. Other members include Ismaeel Ahmed, Rukaiya El-Rufai, and several others.

President Bola Tinubu emphasised that effective execution of the new tax laws is crucial to achieving the administration’s economic reform agenda, improving public financial management, and creating a more attractive business environment.

“These new tax laws demonstrate our commitment to a fair, transparent and technology-driven tax system that fosters economic growth while safeguarding the interests of citizens and businesses,” the president said.
“The National Tax Policy Implementation Committee will ensure strong, coherent, and well-coordinated implementation across all levels of government.”

The statement added that the committee’s mandate prioritises nationwide consultations with industry groups, professional bodies, state governments, and the general public, alongside awareness campaigns to aid smooth transition to the new tax framework.

It also stressed the need for strong collaboration among revenue agencies and regulators, harmonisation of existing systems with updated laws, and coordinated oversight throughout the implementation phase.

ADS 7

Tegbe pledged the committee’s commitment to working diligently to support national development goals.
“We recognise the strategic significance of these tax reforms. Our committee will engage closely with stakeholders to support the finance minister in ensuring seamless implementation and in strengthening public confidence in the tax system,” he said.

Edun added that the committee’s creation provides both the direction and authority required to modernise not just Nigeria’s tax regime but the entire fiscal policy structure.
“With this committee, Mr. President has laid out a clear path and provided the backing needed to reset the tax system and overhaul fiscal policy for meaningful economic growth,” he said.

Headline news

According to the statement, the NTPIC will help boost revenue generation, reduce leakages, promote accountability, and reinforce the federal government’s fiscal sustainability and development goals.

- Advertisement -spot_img
Must Read
Related News
- Advertisement -spot_img