Experts Push For Government-Private Sector Unity On New Tax Laws

By NINI NDUONOFIT-AKOH

STAKEHOLDERS in Nigeria’s business community have called for stronger collaboration between government and the private sector to ensure smooth implementation of the Nigeria Tax Reform Act 2025.

Speaking at the Lagos Chamber of Commerce and Industry (LCCI) Stakeholders’ Forum on Emerging Tax Matters, Dr. Ayodele Subair, Chairman of the Lagos State Internal Revenue Service (LIRS), described President Bola Tinubu’s signing of the reforms as a turning point.

He noted that the new framework reduces overlapping taxes, clarifies grey areas, and offers fresh opportunities, but stressed that businesses and regulators must work together to address transitional challenges.

“While the regime brings prospects, businesses must prepare for adjustments, and regulators must ensure fairness and clarity,” Subair said, adding that LIRS remains committed to supporting businesses under the new system.

Dr. Zacchaeus Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), represented by Stella Okahbuzor, said the reforms provide a unified tax rulebook aimed at boosting voluntary compliance. Sensitisation for staff and taxpayers, he noted, is already underway.

LCCI President, Gabriel Idahosa, highlighted the Act’s provisions on digital taxation, unified filing systems, and incentives for green and export-driven industries. He stressed that taxation would only gain credibility if citizens saw visible benefits in infrastructure, education, and public services.

Chartered Institute of Directors (CIoD) President, Adetunji Oyebanji, cautioned that while the reforms aim to increase revenue, poor implementation could burden small and medium enterprises. He called for continuous feedback and monitoring to address challenges in real time.

Stakeholders agreed that collaboration, fairness, and accountability will determine the success of the 2025 tax reforms in fostering growth and inclusive prosperity.