Why Nigeria's tax reform bill could be a game changer for economy

    Muhammed Akanji & Fashola Olanrewaju | Research and Insights | Nov 20, 2024    
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Imagine a bustling market in the heart of Lagos, filled with blue-collar workers and traders of all scales—civil servants retiring home after a very long day, street vendors selling roasted corn and mega-merchants dealing in electronics. This market represents Nigeria's economy, vibrant but uneven. Some workers contribute their fair share to maintain the nation's infrastructure, while others slip through the cracks, exploiting loopholes or avoiding contributions altogether. The nation’s tax administration, historically disorganized, has struggled to collect enough to fix the crumbling economy. Then comes a proposal—a new set of rules promising clarity, fairness, and modern tools for enforcement. Citizens are divided: some welcome the change, hoping for better services and improved welfare, while others fear added burdens and potential disruptions.

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