Economy
Stakeholders to Discuss Stronger Tax Regimes in Abuja
By Modupe Gbadeyanka
Vice President of Nigeria, Prof. Yemi Osinbajo, has been scheduled to declare open the 3rd International Conference on Tax in Africa (ICTA) taking place in Abuja from September 25 to 29, 2017.
During the flagship conference of the African Tax Administration Forum, stakeholders will discuss stronger tax regimes under the theme ‘Building Strong Domestic Tax Regimes in Africa: Strengthening VAT, PIT and CIT.’
The conference program is designed along expert panel discussion sessions and presentations. The ICTA 2017 will look at the technical challenges, successes and good practice in the administration of VAT in Africa; enhancing performance of PIT through broadening the tax base, sanitising the taxpayer register and improved taxpayer experience with regard to managing compliance; and dealing with complexities of CIT taking into account the filing of corporate tax returns, enhanced customer service delivery, corporate structures vis-à-vis tax planning, tax audits and investigation.
This year’s ICTA is expecting delegates and panellists well beyond its 38-member countries including from other revenue authorities and organisations such as the African Development Bank, the World Bank, OECD, International Tax Compact, GIZ, Tax Justice Network – Africa, ECOWAS and CREDAF.
The programme will also celebrate and recognise the six African experts selected to serve on the UN Committee of Experts on International Cooperation in Tax Matters.
Five of the six members come from ATAF member countries and two of these are on the ATAF council. These include Mr William Tunde Fowler (Nigeria), the Chairperson of ATAF’s Council and Mrs Elfrieda Stewart Tamba (Liberia).
A statement issued by ICTA said to end poverty and hunger by 2030, the UN’s 17 Sustainable Development Goals (SDGs) are premised on strategies that build economic growth to address a range of social needs including education, health, social protection, and job opportunities, while tackling climate change and environmental protection. Tax revenue, is therefore viewed as the main enabler for achieving these goals.
The African Union, for its part, has set Agenda 2063 to build “an integrated, prosperous and peaceful Africa, driven by its own citizens and representing a dynamic force in international arena.”
To fulfil this vision, Agenda 2063 talks of the need for inclusive growth and sustainable development as well as good governance, democracy, respect for human rights, justice and the rule of law. To bring this agenda into fruition, domestic resource mobilisation takes a central role, as donor fatigue is now only too evident.
African countries are signatories to both these ambitious milestones. For ATAF, continent meeting both these agendas will, largely hinge on effective domestic resource mobilisation (DRM) or strengthening domestic tax regimes in every African country. In light of this, both the Forum’s Council as well as its General Assembly have given the directive for a strong focus on domestic taxes, hence the theme for ICTA 2017.
The Conference is focusing on specific domestic taxes including VAT, Personal Income Tax (PIT) and Corporate Income Tax (CIT) due to their potential contribution and the underlying risks that are likely to undermine the revenue take.
Value Added Tax (VAT) is administered in 44 of the 54 African countries and is seen as the tax of the future as it has a broad base and therefore, needs review of processes for effectiveness and efficiency in its administrations.
Corporate Income Tax (CIT) is in the spotlight as more manufacturing industries take root in the continent. Similarly, there is a growing service sector constituting the financial, telecommunication and real estate.
Personal Income Tax derived from individuals such as employee PAYE, other withholding tax schemes and High Net Worth Individuals (HNWI) are also key contributors to domestic revenue.
These tax heads have a quicker turn-around time if well administered in terms of taxpayer registration, return filing and payment, audits, collections, refunds and dispute resolution and can readily contribute to financing recurrent budgets of the African continent.
By Adedapo Adesanya
The United Kingdom via the British High Commission in Abuja has launched two flagship economic reform programmes – the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF) -as part of efforts to support Nigeria’s economic reform and growth agenda.
Backed by a £12.4 million UK investment, NEST and NPFF sit at the centre of the UK-Nigeria mutual growth partnership and support Nigeria’s efforts to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private-sector growth.
Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission in Abuja, said, “These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The launch followed the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the approach of both programmes and confirmed strong alignment between the UK and Nigeria on priority areas for delivery.
Representing the Government of Nigeria, Special Adviser to the President of Nigeria on Finance and the Economy, Mrs Sanyade Okoli, welcomed the collaboration, touting it as crucial to current, critical reforms.
“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians.”
On his part, Mr Jonny Baxter, British Deputy High Commissioner in Lagos, highlighted the significance of the programmes within the wider UK-Nigeria mutual growth partnership.
“NEST and NPFF are central to our shared approach to strengthening the foundations that underpin long-term economic prosperity. They sit firmly within the UK-Nigeria mutual growth partnership.”
By Aduragbemi Omiyale
A strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs) has been signed by MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The collaboration will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs.
With millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN say their shared platform will address gaps in communication, misinformation, and access to opportunities.
At the formal signing of the Memorandum of Understanding (MoU) on Thursday, November 27, 2025, in Lagos, the stage was set for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.
The chief operating officer of MTN Nigeria, Mr Ayham Moussa, reiterated the company’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.
“SMEs are the backbone of the economy and the backbone of employment in Nigeria. We are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets. This collaboration serves both our business and social development objectives,” he stated.
Also, the Chief Enterprise Business Officer of MTN Nigeria, Ms Lynda Saint-Nwafor, described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.
“Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need. We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale,” she noted.
Also commenting, the Director General of SMEDAN, Mr Charles Odii, emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.
“We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff. We cannot fulfil our mandate without technology, data, and strong partners.
“MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years,” he disclosed.
Mr Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development.
He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.
By Adedapo Adesanya
The Nigerian Exchange (NGX) Limited is seeking review of the controversial Capital Gains Tax increase, fearing it will chase away foreign investors from the country’s capital market.
Nigeria’s new tax regime, which takes effect from January 1, 2026, represents one of the most significant changes to Nigeria’s tax system in recent years.
Under the new rules, the flat 10 per cent Capital Gains Tax rate has been replaced by progressive income tax rates ranging from zero to 30 per cent, depending on an investor’s overall income or profit level while large corporate investors will see the top rate reduced to 25 per cent as part of a wider corporate tax reform.
The chief executive of NGX, Mr Jude Chiemeka, said in a Bloomberg interview in Kigali, Rwanda that there should be a “removal of the capital gains tax completely, or perhaps deferring it for five years.”
According to him, Nigeria, having a higher Capital Gains Tax, will make investors redirect asset allocation to frontier markets and “countries that have less tax.”
“From a capital flow perspective, we should be concerned because all these international portfolio managers that invest across frontier markets will certainly go to where the cost of investing is not so burdensome,” the CEO said, as per Bloomberg. “That is really the angle one will look at it from.”
Meanwhile, the policy has been defended by the chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, who noted that the new tax will make investing in the capital market more attractive by reducing risks, promoting fairness, and simplifying compliance.
He noted that the framework allows investors to deduct legitimate costs such as brokerage fees, regulatory charges, realised capital losses, margin interest, and foreign exchange losses directly tied to investments, thereby ensuring that they are not taxed when operating at a loss.
Mr Oyedele also said the reforms introduced a more inclusive approach to taxation by exempting several categories of investors and transactions.
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