Nigeria’s tax system has long been a source of frustration for small and medium enterprises. With a tax-to-GDP ratio of just 6%, one of the lowest globally, the country faces a significant challenge in bringing businesses into the formal tax system.
But according to Ebenezer Segun Ojo, co-founder of Taxmingo, the problem isn’t that businesses don’t want to pay taxes. It’s that the system makes it too hard.
“Most Nigerian SMEs actually want to comply with tax laws,” Ebenener told Techeconomy in a recent interview. “The issue is complexity. They don’t understand the tax laws, they can’t afford expensive consultants, and the filing procedures are cumbersome. We built Taxmingo to solve these three problems.”
From Corporate to Tech Entrepreneurship
Ebenezer’s journey to co-founding Taxmingo is unconventional. He spent over 15 years at Honda Manufacturing Nigeria Limited, rising from Sales Executive to Head of the Service Department, before joining his brother, Richard Ojo, to launch the tax tech platform in August 2022.
“At Honda, I constantly interacted with small businesses: parts suppliers, logistics companies, dealerships,” Ebenezer explained. “I watched them struggle with regulatory compliance, not because they were trying to evade obligations, but because the processes were unnecessarily complicated. That experience showed me there was a real market need.”
Richard Ojo, a chartered accountant and tax practitioner, founded Taxmingo in January 2021 after years of working with large organizations through his forensic accounting firm, DEEM Forensic Services. When Segun joined as Co-founder in 2022, he brought critical operational and customer service expertise to complement Richard’s technical tax knowledge.
“Richard understands tax law at a deep level,” Segun said. “I understand how to deliver quality service at scale and how Nigerian businesses actually operate. Being brothers meant we had the trust to build something together.”
The Taxmingo Approach
Taxmingo’s platform combines professional tax expertise with automation to make compliance accessible and affordable. For a monthly subscription starting at ₦7,500, far less than traditional consulting fees, SME owners receive tax computation, filing assistance, document management, and access to certified tax professionals.
“We’re not replacing accountants,” Ebenezer Segun Ojo clarified. “We’re making professional tax services accessible to businesses that couldn’t previously afford them. A small retailer in Port Harcourt or a logistics company in Kano needs tax help, but they can’t justify ₦100,000 in consulting fees.”
One of Taxmingo’s most impactful innovations has been its 2023 WhatsApp integration for document submission. The feature allows users to send receipts, invoices, and other tax documents directly through WhatsApp, which Nigerians already use daily.
“We could have built a fancy app, but that would have missed the point,” Ebenezer explained. “Nigerian business owners are already on WhatsApp, already taking photos of receipts. Why force them to learn a new system? Technology should serve human behaviour, not force behaviour change.”
The results have been significant. Document submission rates increased by over 60% in the first three months after the WhatsApp integration launched, and customer feedback has been overwhelmingly positive.
Lessons from Corporate Experience
“At Honda’s Service Department, we simplified complex procedures for customers,” he said. “We created checklists, automated reminders, and streamlined documentation. I saw firsthand how reducing procedural friction increased compliance and satisfaction. We applied the same principles to tax compliance.”
His quality management background also proved invaluable when building a tech platform despite having no software development experience.
“You don’t need to be a developer to build a tech company,” Ebenezer noted. “You need to understand what problem you’re solving and for whom. My role isn’t to write code. It’s to ensure our technology solves real customer problems and delivers a quality experience. That’s where my Honda training became essential.”
Impact and Growth
Since its launch, Taxmingo has served hundreds of Nigerian SMEs across multiple states. The company declined to share specific revenue figures but pointed to customer stories as validation of their approach.
“We had one customer who’d been in business for seven years but never fully understood his tax obligations,” Ebenezer shared. “He was underpaying some taxes, overpaying others. Within two months of using Taxmingo, he was fully compliant, his liability decreased, and he had confidence he wouldn’t face penalties. That’s the impact we’re after.”
The broader mission extends beyond individual businesses. With Nigerian SMEs contributing 48% of national GDP but remaining largely outside the formal tax system, Taxmingo sees itself as a bridge between progressive government policies and practical implementation.
“The 2021 Finance Act created better conditions for startups and small businesses,” Ebenezer noted. “But policy changes mean nothing if businesses can’t actually comply. That’s the infrastructure gap we’re filling with technology.”
Future Vision
Looking ahead, Taxmingo has ambitions that extend beyond Nigeria. Ebenezer, who now operates from the United Kingdom while maintaining oversight of the platform, believes the tax compliance challenges facing Nigerian SMEs are not unique.
“We’re seeing similar patterns across emerging markets in Africa and beyond,” he said. “Complex tax systems, willing businesses that can’t navigate bureaucracy, massive gaps between what governments need to collect and what they actually collect. The specific regulations differ, but the core problem is the same.”
However, expansion plans remain measured. “Our immediate focus is serving Nigerian businesses exceptionally well,” Ebenezer emphasized. “We need to prove our model works at scale here first. But yes, the long-term vision includes taking this solution to other markets.”
Advice for Tech Entrepreneurs
For entrepreneurs building solutions in Nigeria’s growing tech ecosystem, Ebenezer offers pragmatic advice drawn from his transition from corporate to startup life.
“Build for actual behaviour, not ideal behaviour,” he said. “Too many startups try to force behaviour change when the real innovation is accommodating existing behaviour. Meet your customers where they are.”
He also emphasized the importance of combining technology with human expertise. “Tax compliance isn’t a pure technology problem. You need professional judgment and human support when customers have questions. Our technology makes professionals more efficient, but it doesn’t replace them.”
Finally, Ebenezer stressed the value of preparation over speed. “I waited 15 years in corporate before starting Taxmingo. That wasn’t wasted time. I built capabilities, credibility, and capital. When the right opportunity came with the right co-founder, I was ready. Don’t rush the leap, but don’t wait forever either.”
