DOPF Lecture Series: New Tax Law To Boost SMEs, Strengthen Revenue System — Emudainohwo
A university scholar, Dr. Ochuko Emudainohwo, has described Nigeria’s 2025 tax law as a strategic roadmap for inclusive economic growth, capable of repositioning the nation for a more diversified and resilient future.
Speaking as Guest Speaker at the Delta Online Publishers Forum (DOPF) 2025 Lecture Series held in Asaba, Dr. Emudainohwo urged businesses, policymakers, and citizens to embrace the reform and support the nation’s transition to a more accountable and sustainable fiscal system.
The lecture, themed “Nigeria’s New Tax Law: Implications and Opportunities for Businesses and Society,” provided deep insights into the rationale, framework, and benefits of the new tax legislation introduced under President Bola Ahmed Tinubu’s administration.
Dr. Emudainohwo, an Associate Professor of Accounting at Dennis Osadebay University, Asaba, noted that taxation remains one of the most powerful tools for national development. He stressed that understanding the intent of the new law requires an appreciation of the economic pressures that necessitated its introduction.
He highlighted several factors driving the reform, including declining oil revenue, population growth, increasing demand for public services, and lingering shocks from the COVID-19 pandemic, all of which exposed weaknesses in Nigeria’s revenue system. These realities, he said, compelled the federal government to adopt a more sustainable and inclusive fiscal strategy.
A major goal of the 2025 tax law, he explained, is to reduce Nigeria’s longstanding dependence on oil by widening the tax base and making compliance easier. The new framework consolidates income and company taxes into a single system, eliminating bottlenecks and simplifying administration.
Describing the law as “pro-people,” Dr. Emudainohwo emphasized its support for Small and Medium-Scale Enterprises (SMEs). Companies with an annual turnover below ₦50 million are now exempt from capital-based and company income taxes — a move he believes will reduce the burden on small businesses, stimulate entrepreneurship, and promote innovation.
He further noted that the law prioritizes transparency and modernization by strengthening digital tax platforms, improving accountability, boosting efficiency, and minimizing leakages across the revenue chain.
