Speaking at the 2026 Tax Conference with the theme, “Tax Reforms and Global Relevance: Positioning Nigeria’s Tax System for a Sustainable Future” which is organized by the Chartered Institute of Taxation of Nigeria (CITN), in Abuja, he said the reforms were aimed at building a stronger fiscal foundation for long-term national development rather than increasing taxation.

Oyedele said the country’s previous tax system had been weakened by fragmented administration, multiple taxation, weak compliance and unstable revenues.

According to him,

“Countries that fail to modernise their fiscal frameworks risk losing competitiveness, discouraging investment, widening inequality, and weakening economic resilience. These are risks Nigeria cannot afford to take, and opportunities we cannot afford to lose.”

The minister pointed out that the reforms were designed to simplify taxation, reduce compliance burden, encourage investment and strengthen public trust in government.

He disclosed that minimum wage earners had been exempted from personal income tax, while measures were also being implemented to reduce the burden on low-income earners and improve business competitiveness, among others.

He said,

“Our tax reforms became necessary because, for many years, Nigeria’s tax system suffered from structural weaknesses, from non-harmonised taxes to fragmented administration, scarce and unstable revenues, weak compliance, and high levels of informality.

“Businesses faced numerous impediments from inefficient enforcement and rising compliance costs. Citizens often perceived the tax system as unfair because the burden was unevenly distributed. At the same time, revenues remained insufficient relative to our development targets.

“This model became untenable, and the system was simply unsustainable. The reforms we are implementing are therefore not about additional points of taxation. They are about building a stronger fiscal foundation for long-term national development.”

Oyedele stressed that the government’s approach was guided by a simple conviction that a good tax system should enrich the real economy, support economic growth, protect vulnerable demographics, and strengthen trust between government and citizens.

According to him, the reforms seek to simplify the tax system, improve coordination, reduce disruptions, encourage investment, promote voluntary compliance, and align taxation with productivity.

He said,

“We are moving from a framework driven by discretion and fragmentation to one anchored on clarity, certainty, and fairness.

“We do not operate in isolation. We must remain competitive, and competitiveness today depends significantly on the quality of a country’s fiscal architecture.

This is why our reforms incorporate internationally recognised best practices while remaining sensitive to Nigeria’s realities.”

According to the minister, one of the strongest complaints from businesses had been multiple taxation across different levels of government, adding that the government is working to modernise tax administration, improve coordination, and reduce the burden on taxpayers, especially low-income earners.

He said,

“If our tax system and laws are to facilitate a globally competitive economy, we must continue strengthening implementation across the federation.

“We are grateful to the states that have adopted tax modernisation laws in their various jurisdictions, and we encourage others to do the same sooner rather than later.”

Also, speaking at the conference, Mr. Innocent Ohagwa, president/ chairman of Council, Chartered Institute of Taxation of Nigeria (CITN), described taxation as a central pillar of Nigeria’s transition away from oil dependence.

Ohagwa commended the Tinubu administration, the National Assembly and other stakeholders for delivering the new tax laws, saying the reforms reflected a firm and collective commitment to sustainable economic development.

He urged tax professionals to support implementation of the reforms by promoting transparency, accountability and compliance across the system.

He said,

“As Nigeria shifts from a long-standing dependence on oil toward a more sustainable fiscal model, taxation has rightly emerged as a central pillar of our national revenue strategy.

“CITN has convened this 28th ATC under the theme to provide a critical platform for tax professionals, policy makers, administrators, members of the academia, business leaders and stakeholders-alike to rigorously interrogate the ongoing reforms, evaluate the challenges and identify how best they can strengthen our tax system for long-term sustainability, global competitiveness and enduring fiscal relevance.”

Ohagwa said,

“As tax professionals, our contributions have never been more crucial than now, particularly with reference to Sections Section 33(1) and Section 147 of the Nigeria Tax Administration Act (NTAA) 2025.

“As President of CITN, I call on all members across the public and private sectors to rise to the demands of this moment and support the implementation of the reforms.

“Every CITN member must become a stakeholder of the reform agenda by deepening their technical knowledge, upholding the highest ethical standards and providing sound, objective guidance to taxpayers, institutions, employers and government.”

He said,

“We must firmly reject practices that undermine compliance and instead uphold the principles of transparency, fairness, and accountability in all our engagements. As professionals, we must lead by example by ensuring full compliance with our own tax obligations before encouraging others to do the same.

“CITN stands ready to support the government, including the NRS, State Internal Revenue Services, the JRB, National Tax Policy Implementation Committee, office of the Tax Ombuds and all stakeholders, in achieving the objectives of these reforms.”

The agency said the accusation is baseless and risks stirring political tension over an issue it considers routine and technical.

Aderonke Atoyebi, technical assistant on Broadcast Media to the FIRS Chairman, issued the agency’s response, saying the former Vice President’s comments distort how government tax channels actually work. 

She insisted there is no exclusive gateway and no company has been placed above others in the revenue-collection chain.

“The comments by former Vice President Atiku Abubakar are incorrect, misleading, and capable of unnecessarily politicising a purely administrative and technical process,” she said.

The tax authority explained that Nigeria currently operates a broad network of Payment Solution Service Providers. Quickteller, Remita, Etranzact, Flutterwave and XpressPay all run simultaneously, and the system, according to the FIRS, is designed to prevent any single operator from dominating.

The agency repeated the same point in stronger terms: “For clarity, the FIRS does not operate any exclusive or single-gateway revenue-collection arrangement, and no private entity has been granted a monopoly over government revenues.”

Why XpressPayments Entered the Picture

Xpress Payment Solutions Limited was recently listed as a collecting agent under the Treasury Single Account framework, allowing taxpayers to choose its platform, just as they would choose any other, when remitting statutory taxes. 

The FIRS stressed that this does not elevate the company above others, nor does it give it access to government funds.

Atiku Abubakar had argued that this resembles what he called a “Lagos-style revenue cartel”, warning that placing revenue channels in the hands of any politically aligned private operator could undermine public trust. 

He said the decision was made quietly and described the arrangement as state capture masked as innovation.

FIRS Counters Monopoly Claims

The agency dismissed those issues, insisting that PSSPs neither collect revenue nor keep a share of funds. All payments, it said, land directly in the Federation Account without being touched or held by any intermediary.

It reinforced this point again: “All payments made through the platforms go directly into the Federation Account without diversion, intermediaries, or private control.”

The FIRS also noted that recent reforms deliberately opened the space for more providers, not fewer. The intention, it said, is to expand access, increase oversight, and push financial-technology firms to innovate through competition rather than state preference.

Transparency and Reform at the Centre

Responding to Atiku’s claim of the wider process, Atoyebi said the onboarding of service providers is conducted through a transparent and verifiable procedure. She added that national tax reforms must not be reduced to political talking points.

“The reform has come to stay and should not be subjected to mischaracterisation for political gain.”

The agency then urged politicians to avoid framing operational decisions as partisan manoeuvres: “We therefore urge Mr Atiku Abubakar and other political actors to refrain from mischaracterising routine administrative processes for political gain. Nigeria’s tax system is too important to be subjected to misinformation or unnecessary alarm.”

A Continuing Disagreement

Atiku, who has repeatedly criticised the administration’s revenue and economic policies, maintains that placing XpressPayments in a sensitive role weakens institutional safeguards. The FIRS insists the system remains professional, transparent, and insulated from private influence.