New tax laws key to Nigeria’s revenue growth, economic stability, says Aigbogun

Frank Aigbogun, Publisher of BusinessDay Media Limited, has said Nigeria’s newly enacted tax laws are critical to strengthening revenue generation and promoting long-term economic stability.

He stressed that effective implementation will be key to achieving the reforms’ intended impact.

Aigbogun made the remark while welcoming participants to the 2026 BusinessDay Tax Conference themed “Navigating the New Tax Regime: What It Means for Your Wallet,” where policymakers, tax experts and business leaders gathered to examine the implications of the tax reforms introduced by President Bola Ahmed Tinubu.

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Aigbogun said the gathering was convened to provide a deeper understanding of tax reforms introduced by President Bola Tinubu as part of efforts to reshape the country’s fiscal landscape.

He recalled that on June 26, 2025, Tinubu signed four major tax reform bills into lawmarking what he described as a landmark moment in Nigeria’s economic policy direction.

“The laws include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service Act, and the Joint Revenue Board Act”, he stated.

According to Aigbogun, the legislation forms part of a broader strategy by the federal government to overhaul Nigeria’s tax system, improve revenue generation, enhance tax administration, and strengthen the country’s business environment.

“These laws form part of the President’s broader efforts to comprehensively overhaul Nigeria’s tax landscape, drive economic growth, increase revenue generation, improve the business environment, and enhance effective tax administration across all levels of government,” he said.

He stressed that economic growth in any country depends largely on sound policies driven by dedicated public institutions and supported by responsible citizens who fulfil their tax obligations.

The BusinessDay publisher noted that the conference was designed to provide stakeholders with an opportunity to critically analyse the new tax policies, identify possible challenges, and propose practical solutions that could improve implementation.

“There is no doubt that this event, coming at this critical period in the lifespan of the current administration, is very timely given the economic challenges facing the country and the growing trust deficit in public governance,” he said.

Aigbogun observed that Nigeria, widely regarded as Africa’s largest economy, is currently at a crucial stage in its development trajectory, with the nation also gradually moving toward preparations for the 2027 general elections.

He pointed out that the country continues to grapple with multiple structural challenges, including infrastructure deficits, security concerns, and regulatory uncertainties, which require coordinated policy responses.

According to him, the conference was organised by BusinessDay Media Limited to provide clarity around the tax reforms and address misconceptions that could hinder compliance, particularly among businesses.

He added that the initiative is consistent with the organisation’s long-standing commitment to promoting informed policy discussions through lectures, policy dialogues, and industry events that bring together experts and decision-makers.

Quoting humanitarian philosopher Albert Schweitzer, Aigbogun said: “The purpose of human life is to serve, and to show compassion and the will to help others.”

He said BusinessDay has continued to create platforms that enable critical thinking and constructive debate on major economic issues affecting the country, while also encouraging collaboration between government, the private sector, and other stakeholders.

Aigbogun expressed confidence that the panel of speakers assembled for the conference would address many of the pressing questions surrounding the implementation of the new tax regime.

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“I sincerely believe that the array of eminent personalities and experts lined up to speak to us this morning on issues of taxation have been carefully selected to provide answers to many of the pressing questions surrounding the new tax regime,” he said.

He urged participants to take full advantage of the conference discussions to deepen their understanding of the reforms and their potential impact on personal finances and business operations.

“My responsibility this morning is simply to welcome you. I therefore urge you to take full advantage of this opportunity”, he noted.