₦airaland Forum

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that Nigeria has fewer than 10 million active individual taxpayers, underscoring the country’s narrow tax base and the urgent need for data-driven reforms at subnational levels.

Oyedele made the assertion on Tuesday while delivering a keynote address at the Tax Reform Summit 2026 in Lagos, themed “From Reforms to Results: The Lagos Implementation Roadmap, Creating a Tax Environment that Works for All.”

The summit was convened by the Office of the Special Adviser on Taxation and Revenue in collaboration with the Lagos State Treasury Office.

According to Oyedele, improving the quality of data for fiscal and economic planning is critical to expanding the tax net, particularly in Lagos State.

He said reliable databases covering property registers, individual taxpayers and fiscal operations were essential for effective revenue mobilisation.

“In Nigeria today, the number of active individual taxpayers is under 10 million for the whole country. I think that is the number we should have for Lagos State alone, and we need to make that possible,” he said, adding that meaningful tax reform cannot be achieved without credible and comprehensive data.

Oyedele also highlighted the significant revenue potential of property taxation, describing it as one of the most stable but underutilised sources of income for states and local governments. He said Lagos could generate up to ₦1 trillion annually from property tax if the sector’s potential is fully harnessed.

He explained that if just two million properties in Lagos were taxable, with an average value of ₦100 million and a modest tax rate of 0.5 per cent, the state could raise ₦1 trillion yearly.

According to him, such revenue could be reinvested in infrastructure and public services, creating a cycle of growth and increased property values.

The tax reform committee chairman stressed that success in property taxation depends on proper property enumeration, accurate valuation, transparent administration and predictable enforcement.

He also called on Lagos State to lead by example in adopting harmonised tax laws and strengthening legal frameworks for collaboration among revenue-collecting agencies.

Oyedele disclosed that a model tax harmonisation law drafted by the committee and the Joint Revenue Board had already been adopted by states such as Ekiti, Zamfara, Anambra and Kano, urging Lagos to follow suit.

Porksupplyib:
Enjoy ur moment of Fame Mr oyedele. You are about to be the most hated man in Nigeria. I do not envy you a bit.
Revenue generation is never Nigeria's problem, neither is increasing revenue generation the solution to Nigeria's problem. Proper spending devoid of corruption is the solution.
Even if we make x10 of what we make today, we will have nothing to show for it if the main problem is not addressed.

Malami is now alleged to have looted over 200b, how much do u think other politicians have looted?

edlion57:
Tinubu enjoys making Nigerians suffer
No fuel subsidy
No light subsidy
He is after how to collect from you

What do we enjoy as a citizen of this country

GEJDHERO:
It would even reduce further.

.accounts closing go yakpa 2026

Elzazzi:
Okowa looted over 1 trillion naira. Yahya Bello over 80billion naira. Lol

It gives Tinubu immense Joy to deal with Nigerians.

anonimi:
What this supposedly brilliant chap forgets is that the 10 million taxpayers have profits and incomes from the LABOUR of the remaining Nigerians who are too much of extreme poverty paupers to pay any tax.


Who will enlighten him about this fact

nairalanda1:
How do you pay for subsidy when most of you don't pay tax, and when oil revenues are falling due to persistently low prices?

It's like you guys are not realistic.

I don't like tinubu, but this low tax thing has been an issue for decades

Nemere2020:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

Porksupplyib:
Enjoy ur moment of Fame Mr oyedele. You are about to be the most hated man in Nigeria. I do not envy you a bit.
Revenue generation is never Nigeria's problem, neither is increasing revenue generation the solution to Nigeria's problem. Proper spending devoid of corruption is the solution.
Even if we make x10 of what we make today, we will have nothing to show for it if the main problem is not addressed.

Malami is now alleged to have looted over 200b, how much do u think other politicians have looted?

Elzazzi:
Okowa looted over 1 trillion naira. Yahya Bello over 80billion naira. Lol

It gives Tinubu immense Joy to deal with Nigerians.

HgAkpobomeEr:
A nationwide tax database is urgently needed.

Osyxcel:
More tax so politicians will have more to steal.

Kennitrust:
So the ticket we buy as a driver is not tax

Or what is it call?


Because there are more than 10 million commercial vehicles on Nigeria's roads