Business

Tinubu’s tax reforms take shape – experts applaud FIRS chairman

Published

Tuesday, 6 May 2025, 9:27 pm

The House of Representatives has passed a series of Tax Reform Bills aimed at overhauling Nigeria’s tax system, a move experts say will bring efficiency, transparency, and economic stability.

The bills, which are expected to be deliberated by the Senate after its recess on April 29, 2025, are designed to modernise tax administration, expand the tax base, and harmonise revenue laws.

Tax analyst Arabinrin Aderonke Atoyebi has hailed the passage of these bills, crediting the success to the leadership of Dr Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS).

According to her, the tax reforms reflect the government’s commitment to driving economic growth.

“After years of inefficiencies, low compliance, and fragmented administration, we are witnessing a structured approach to taxation,” she stated.

“President Bola Ahmed Tinubu made tax reform a priority, and he put the right man in charge: the Tax Boss.”

Under Adedeji’s leadership, the FIRS has implemented crucial reforms, including automating tax return processing and digitising compliance procedures.

“FIRS has automated over 80 percent of returns processing and integrated smarter modules into the TaxProMax system,” Atoyebi noted, highlighting the shift toward a seamless tax payment system.

The four bills—Nigeria Revenue Service Bill, Nigeria Tax Administration Bill, Nigeria Taxation (Consolidation) Bill, and the Joint Tax Board Bill—were developed after extensive consultations with stakeholders, including state governments and tax experts. Public hearings allowed for critical revisions, including the decision to maintain the current Value-Added Tax (VAT) rate rather than introduce hikes.

The reforms are expected to bridge gaps in tax collection, foster economic expansion, and improve Nigeria’s revenue generation without overburdening citizens.

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“This is about more than taxation; it’s about national progress,” Atoyebi remarked. “We are not waiting for change; we are making it happen.”

With the Senate set to debate the bills in April, all eyes are now on the final stage: presidential assent.

Analysts believe that once signed into law, these reforms will reshape Nigeria’s economic landscape, enhancing efficiency and compliance.

Atoyebi emphasised that while passing the bills is a crucial milestone, their implementation will be key.

“Dr. Zacch Adedeji has not only championed these reforms but has owned the process with clarity, purpose, and results. If properly executed, this will strengthen the system for everyone—government and taxpayers alike.”

As Nigeria is poised for a tax revolution, stakeholders remain hopeful that these reforms will lay a solid foundation for economic stability and growth.

“The Tax Reform Bills are not just another policy shift. They are here to stay,” Atoyebi concluded.

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Business

Edo Assembly speaker, others defect to APC

Published

15 minutes ago

May 6, 2025

John

Blessing Agbebaku, Speaker Edo State House of Assembly, two members of the House of Assembly; five former members of the

read more Edo Assembly speaker, others defect to APC

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Business

5 Secondary schools where students run mini enterprises as part of curriculum

Published

3 hours ago

May 6, 2025

John

Contents

1. Loyola Jesuit College, Abuja 2. Greensprings School, Lagos 3. Dowen College, Lagos 4. American International School, Abuja 5. British International School, Lagos

In Nigeria a growing number of schools have adopted mini enterprise programs that require students to design products or services manage budgets market to real customers and reinvest profits.

These initiatives foster teamwork financial literacy and creative problem solving while generating small revenues that support school projects or charities.

Below are 5 standout institutions where student led ventures move beyond classroom theory into genuine marketplace operations setting graduates on a path to business success.

ALSO READ: Nigeria’s most expensive secondary school—₦49m in school fees!

1. Loyola Jesuit College, Abuja

Each term, students form teams that research market needs, write detailed business plans and launch ventures such as handcrafted soap labels or small event-planning services.

They procure supplies, manage production, establish brand identities and sell through pop-up campus stalls as well as online channels. Faculty advisors lead sessions on cost calculation, bookkeeping and customer relations.

Profits fund outreach initiatives, reinforcing both civic responsibility and business know-how.

2. Greensprings School, Lagos

Under the Young Entrepreneurs Programme, students operate cooperatives focused on projects ranging from organic produce farming to custom T-shirt design.

A campus makerspace equipped with 3D printers and sewing machines enables rapid prototyping. Participants validate demand at public fairs and via social-media campaigns.

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Professional workshops cover trademark registration, supply-chain logistics and online marketing strategies. A capstone pitch event invites business leaders who award grants and incubation opportunities.

3. Dowen College, Lagos

The BizTech Club integrates enterprise roles into the timetable by assigning students to positions such as chief executive, finance director or marketing lead.

Past ventures have included coding tutorials for primary-school pupils and a healthy-snack café on campus. Live performance dashboards display revenue, costs and customer feedback in real time, teaching data-driven decision making.

Field trips to tech hubs and talks by startup founders connect these student enterprises to Nigeria’s wider innovation ecosystem.

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4. American International School, Abuja

In the Enterprise Challenge, cross-grade teams design scalable services, such as virtual peer-tutoring networks, sustainable cleaning cooperatives or mobile-device repair units, over a full academic term.

Senior students mentor juniors, and all participants submit funding proposals to an alumni investment panel. Successful teams receive revolving seed capital, dedicated workspace and official after-school-club status, ensuring continuity.

The programme builds leadership skills and establishes ventures that operate year after year.

5. British International School, Lagos

The Young Innovators Hub supports ventures spanning eco-friendly fashion (upcycling local textiles) to sensor-based waste-collection solutions.

Students attend weekend intensives on e-commerce development, customer segmentation and rapid-iteration techniques.

Collaboration with local SMEs provides real-world client briefs, enabling learners to deliver commissioned work and build professional portfolios.

Annual showcases connect student teams with investors, grant programmes and accelerator partners, accelerating the transition from a student side project to a full-fledged startup.

Embedding genuine enterprise activities in these curricula gives students experience testing ideas managing operations and learning from outcomes in a guided setting.

The initiative cultivates resilience creativity and fiscal discipline essential for success in Nigeria’s entrepreneurial landscape.

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