Tax Register Hits 100m Milestone Amid New Reform Surge
By Patience Ikpeme
The federal government has reported a massive surge in tax compliance and business formalization, citing a ten-fold increase in the national tax register following the implementation of recent fiscal reforms.
Speaking via his official communication channel on Sunday, the Minister of State for Finance, Taiwo Oyedele, disclosed that the number of individuals registered for tax purposes nationwide has leaped from fewer than 10 million prior to the reforms to more than 100 million.
This shift accompanies a significant trend in the informal sector, where thousands of small businesses are now approaching the Corporate Affairs Commission (CAC) for daily registration.
The Minister attributed this transition to the specific structural benefits embedded within the new legislative framework, which seeks to shield vulnerable populations while broadening the economic base.
“These impressive results stem from the robust design and progressive nature of the new laws, which include exemption of small companies from tax and increased exemption thresholds for low-income earners,” Oyedele stated.
He further noted that the current statutes provide clear tax exemptions on essential costs of living, such as food, education, healthcare, transportation, and rent. To ensure the fair treatment of those entering the system, the government has also introduced a Tax Ombud specifically tasked with the protection of taxpayer rights.
While comparing the current fiscal landscape to the “regressive provisions” found in previous legislation, the Minister noted that the government remains committed to a path of constant refinement.
“No law is perfect,” Oyedele remarked. “Therefore, ongoing stakeholder engagement is essential to identify and address any errors or gaps for appropriate legislative updates through Finance Bills as part of a continuous improvement process.”
Addressing recent public discourse, the Minister spoke out against what he described as misleading media reports suggesting he had “admitted errors” in a manner that implied a lack of confidence in the reforms. He clarified that certain publications had falsely suggested Nigerians should wait for the conclusion of a “legislative probe”—a process he confirmed was finished long ago, with certified gazetted copies published by the National Assembly in early January 2026.
“This twisted narrative is unhelpful as it risks distorting public understanding and misleading the very people the reforms were designed to benefit,” the Minister said.
Government officials are calling on the public to remain vigilant against sensationalist headlines. The Ministry advises citizens to rely solely on official channels and credible media outlets for factual updates regarding tax reforms and broader national economic policies.
