As Nigeria continues its journey towards economic stability and growth, the President of the Chartered Institute of Taxation of Nigeria (CITN), Mr Samuel Agbeluyi, has highlighted the pivotal role of taxation in reshaping the nation’s financial landscape. Speaking at a pre-conference presidential chat ahead of the 27th Annual Tax Conference, Mr Agbeluyi underscored the transformative potential of the newly proposed tax reform bill, which is currently awaiting Senate approval.<\/p>\n
Scheduled to take place in Abuja from 12 to 16 May 2025, the conference will explore the theme \u201cTaxation for Development: Policies, Law and Implementation\u201d<\/em>. According to Agbeluyi, the bill represents a critical step towards reducing Nigeria\u2019s dependency on its unpredictable oil revenues. He stressed that the country must chart a more sustainable path by fostering a robust tax culture and implementing responsible fiscal policies.<\/p>\n \u201cWe cannot keep depending on oil,\u201d Agbeluyi remarked. \u201cIts volatility is outside our control. The way forward is to take our destiny into our own hands through sound tax reforms and good governance.\u201d<\/p>\n He further explained that this year\u2019s conference theme reflects the institute\u2019s broader vision\u2014positioning taxation as a strategic tool for national development, peace, and prosperity. The CITN, he said, envisions Nigeria as a continental leader, built upon the foundation of a stable, well-managed economy.<\/p>\n In praising recent improvements, Agbeluyi acknowledged the Federal Inland Revenue Service (FIRS) for surpassing its revenue targets and commended state governments making strides in tax administration. However, he expressed concern over inconsistencies at the sub-national level, citing instances where states are imposing taxes not recognised by national law.<\/p>\n \u201cThere are still states collecting taxes that aren\u2019t even provided for in any statute,\u201d he cautioned, warning that such practices could undermine reform efforts.<\/p>\n Agbeluyi described the proposed tax legislation as the most comprehensive and forward-thinking he has witnessed in his career. While he admitted it may not be perfect, he described it as a major advancement from Nigeria\u2019s current fiscal framework. The bill has already cleared the House of Representatives and is now awaiting concurrence from the Senate.<\/p>\n He appealed to lawmakers and political leaders to give the bill the attention it deserves, stressing that its successful implementation\u2014particularly at the state and local levels\u2014could drastically alter the nation\u2019s economic outlook.<\/p>\n \u201cThis reform won\u2019t implement itself. It requires political will across all levels of government to truly make a difference,\u201d he said.<\/p>\n Looking ahead to the conference, Agbeluyi confirmed that high-ranking officials, including the President, state governors, and federal ministers, are expected to attend. He emphasised that their involvement is crucial for ensuring that the reform agenda reaches decision-makers who can drive meaningful change.<\/p>\n \u201cWe\u2019re not in politics,\u201d he explained. \u201cOur role is to support the country. When political leaders engage with our initiatives, it ensures that our message reaches those in power.\u201d<\/p>\n Agbeluyi also reiterated the importance of public trust in the taxation system. \u201cNigerians are generally law-abiding. If taxpayers see that their money is being put to good use, they will comply willingly,\u201d he said.<\/p>\n He concluded by framing taxation not as a burden but as a tool for national advancement. \u201cTaxation isn\u2019t punishment\u2014it\u2019s a vital instrument for shared prosperity.\u201d<\/p>\n The conference will culminate in the release of a communiqu\u00e9, which will provide guidance for future policy direction and reinforce taxation\u2019s role in achieving long-term national development.<\/p>\n