ABUJA, Nigeria (VOICE OF NAIJA)-The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has given assurance that the Federal Government will continue to engage business leaders and key stakeholders before the new Tax Acts take effect in 2026.
Speaking at the inaugural edition of the Government-Private Sector Dialogue Series: South East Finance and SMEs Growth Roundtable, Edun stated that the Tinubu administration is dedicated to reforms that will make Nigeria’s fiscal system more transparent, efficient, and equitable.
He revealed that the new tax laws have been completed and are scheduled to commence on January 1, 2026.
According to him, the Tax Acts were developed through collaboration among the executive, legislature, judiciary, professionals, and the wider public.
“The dialogue that you ask for, I can assure you, will play a big role,” he said. “There needs to be dialogue. There must be dialogue. Even the feedback we are hearing here today shows the need for more explanation and clarification.
And when it comes to major reform, it’s all about timing, sequencing, and consultation.”
According to Edun, the government’s economic reforms are already producing positive impact, citing improvements in the foreign exchange landscape and petroleum pricing mechanisms.
“You know what it was. You know what it is. Now, we have more of a level playing field, more of a willing buyer, willing seller market, market pricing of petroleum products, and market pricing of foreign exchange,” he stated.
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“This relieves you of what you had to do before to import.”
He added that the goal of the new framework is to make Nigeria’s tax structure more just, easier to understand, and more effective while broadening the tax base and cutting down on multiple payment points.
“The aim is to make the system fairer, to make it clearer, to make it more efficient, and of course to spread the net as wide as possible so that everybody gets a chance to contribute accordingly,” Edun said.
He further mentioned that the Federal Government is developing a National Single Window Project to improve trade facilitation.
The project, he noted, will be launched in the first quarter of next year and will rely on automation, digitisation, and artificial intelligence to streamline trade procedures.
“The idea is to use automation, digitisation, and artificial intelligence to improve the processes and speed them up,” he explained.
Edun reassured business leaders that conversations on tax reform and trade facilitation will be continuous, stressing that several stakeholders have already called for the reforms to be sustained.
“This is an ongoing dialogue,” Edun said. “There have been participants here who want to see this effort sustained, continued, and even built upon. I congratulate you, and you have our support anytime, any day.”
Also speaking at the event, the Minister of State for Finance, Dr Doris Uzoka-Anite, described President Bola Tinubu as the most business-friendly president Nigeria has witnessed in recent times.
Uzoka-Anite said the administration’s reforms clearly demonstrate the President’s commitment to positioning Nigeria as a top investment destination.
“President Tinubu is the most business-friendly president Nigeria has had in recent history,” Uzoka-Anite said. “He has given us a clear directive to work hand-in-hand with the private sector to remove every obstacle standing in the way of enterprise growth.”
She described the Renewed Hope Agenda as more than a policy outline, calling it a social contract intended to rebuild trust, enhance productivity, and strengthen a private-sector-driven economy.
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Uzoka-Anite highlighted a number of ongoing programmes to expand access to finance via the Bank of Industry, the Development Bank of Nigeria, and the Presidential Initiative on Consumer Credit stressing that SMEs are “the engines of Nigeria’s economic revival.”
She noted that infrastructure projects connecting the South-East to other zones including the Enugu–Onitsha Expressway, Second Niger Bridge access roads, and the Onitsha–Owerri corridor are being prioritised to support trade and logistics.
“While government can design policy, it is entrepreneurs like you who will build the future,” she said. “Your innovation, networks, and resilience are the true engines of growth.”
She reaffirmed that the government would continue to engage with the private sector through the new dialogue platform in order to identify issues, shape policymaking, and reinforce cooperation.
“When government opens its doors to dialogue, it sends a clear message that policy is not made for the people, but with the people,” she added.
Responding to concerns about the Nigeria Customs Service, the Customs Area Controller in Apapa, Emmanuel Oshoba, urged importers to be honest in their documentation and to make use of existing opportunities to enhance their operations.
“The other is innovation. We have innovative solutions on the ground that you are not taking advantage of. The first one is the ruling system. Most of you have issues at the port because you have issues with your documentation.
We have provided an avenue where, before you even make your importations, once you have your invoice, you can approach Customs for a ruling on classification and valuation. We will give you the ruling, and it’s legally binding on us. By the time you bring your goods in, the process is seamless.
“Most of you are not taking advantage of it. My doors are open. If you need further enlightenment on this, please approach us. We will direct you accordingly. Let us be partners in progress, collaborators. We are not here to antagonise each other.”