The January 9 Collective (J9C), a multidisciplinary network of Nigerian professionals, on Friday held its 14th anniversary lecture in Lagos, focusing on the early impacts and emerging challenges of the federal tax legislations commonly referred to as the Tax Reforms.
The annual lecture was themed, “Nigeria Tax Reforms Act 2025: Early Realities, Emerging Challenges and the Road Ahead.” Policymakers, private sector leaders and traditional authorities were in attendance to review the reforms and their initial effects on the economy, businesses and taxpayers.
Explaining the choice of theme, Kingsley James, Captain of the January 9 Collective, said the discussion was driven by the need for “informed, balanced, and practical conversations” as Nigeria adjusts to wide ranging fiscal changes.
He said, “The new tax law recently signed by President Bola Ahmed Tinubu, introduces important reforms in revenue generation and administration. Its impact on businesses, as well as our collective responsibilities, will be the focus of today’s engagement.
“I am confident that by the end of this session, we will have a clearer understanding of the law, our roles, and its implementation, free from any controversies that may have surrounded its signing or early execution.
“As a collective, we are committed to sustaining this initiative into the future. To achieve this, we seek collaboration and support in every possible way.”
A panel session examined the practical implications of the new tax laws for businesses and investors. Panelists included Dr Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise; Elizabeth Olaghere, Partner at KPMG Tax, Regulatory and People Services; Segun Kadir, Director General of the Manufacturers Association of Nigeria; and Muktar Mohammed, CEO and founder of several financial initiatives.
The traditional institution was represented by Oba Saheed Elegushi, the Elegushi of the Ikate Elegushi Kingdom, Lagos, through Lekan Bakare, the Aro of Ikate. Comedian Gbenga Adeyinka served as host of the event.
The Chairman of the event, Wole Adeniyi, Chief Executive Officer of Stanbic IBTC Bank, was represented by Abayomi Makinde.
Makinde said, “The topic for today is Nigeria tax act 2025. Early realities, emerging challenges and the road ahead. The year 2025 can be remembered as the year Nigeria took the boldest step in decades towards restructuring, modernizing, simplifying the tax structure.
“The Nigerian tax act NT2005, Nigerian tax administration act, the Nigerian revenue service establishment act, joint revenue board act 2025. These reforms are pivotal to the national development plan. The president has described this reform as a commitment to strengthen Nigeria fiscal framework and has urged stakeholders to support the implementation process.
“This reform stem directly from the recommendation of the national committee on fiscal policy and tax reforms designed to modernize the tax system, broaden revenue base, eliminate inefficiencies, and strengthen fiscal resilience.
“Despite the narratives and pushback circulating the public discourse on social media, I encourage everyone here to embrace these reforms, ignore the noise, and focus on the opportunities these reforms present. This lecture will provide a platform to engage the professionals, make clarity, and position ourselves to take advantage of these opportunities.”
In his remarks, Adeniyi commended J9C for sustaining the annual lecture, describing it as a “commendable initiative and positive contribution to National development.”
He said the tax reform is “pivotal to National development,” urging stakeholders to look beyond criticism.
He said, “Despite the narrative and push back circulating the public discourse and social media, I encourage everyone here to embrace these reforms.
“Ignore the noises and focus on the opportunity these reforms present.”
Speaking on behalf of Oba Saheed Elegushi, Lekan Bakare said President Bola Tinubu has described the reforms as a major opportunity to strengthen Nigeria’s fiscal framework and has urged stakeholders to support the implementation process.
Bakare said, “Good morning, ladies and gentlemen. I’m honored to be part of this 14th anniversary lecture of the January 9 collective. And I commend the leadership for sustaining a non partisan platform for engaging matters that concern our nation.
“The name of this lecture, The Nigerian Tax Reform Act 2025: early Realities, Challenges and the Road ahead speaks directly to the lives of our people, those in our markets, our workshops, our offices, and our community who are working to sustain their families and our economy.
“As royal fathers, we are custodians of the people we listen to their worries, guide their understanding, and encourage patience and trust in the institutions of government towards the society. Reforms, such as these, are necessary for progress, but they must be explained in simple terms, implemented with fairness, and relevant to daily life of the people.
“When governance is just and benefits are visible, the eyes of the people are at peace. Traditional institutions will continue to stand as a bridge between the government and the grassroots, supporting good policies while ensuring that the voices of the people are heard.”
The lecture also featured a keynote presentation which explained that the Tax Reforms Act 2025 seeks to harmonise multiple tax laws, clarify the roles of federal, state and local tax authorities, define taxpayer rights and obligations, and improve compliance and transparency across the tax system.
