The Institute also stated that the ongoing tax reforms by the government would go a long way to improve revenue generation and create a robust tax system for the country.
President of the Institute, Barrister Samuel Agbeluyi, stated this at a one-day media workshop for tax and finance correspondents in Lagos on Wednesday.
The tax bills before the National Assembly(NASS) have been generating nationwide debate with stakeholders pitching for and against them.
The four tax reform bills, which were transmitted to the National Assembly by President Bola Tinubu on October 3, 2024, have passed through a second reading despite protests.
Agbeluyi said, “The institute is closely monitoring and contributing its quota to current activities of the current government as it relates to taxation and fiscal policy modifications.
“It is not in doubt that since its inauguration in May 2023, the current Nigerian government has demonstrated the political will and a strong commitment to overhauling the nation’s tax system, to reduce dependency on oil revenues and promote fiscal stability.”
Agbeluyi commended the work of the Presidential Fiscal Policy and Tax Reforms Committee, which has produced the Economic Stabilization Bills currently under review by the National Assembly.
He clamoured for constructive engagement to ensure they address systemic challenges while fostering a conducive environment for business growth while emphasising the critical role of the media in driving informed public discourse on tax reforms and fiscal policies.
Speaking at the workshop, Agbeluyi commended journalists for their partnership in advancing public awareness of Nigeria’s tax system, saying the importance of equipping media practitioners with the tools and knowledge needed to report tax issues professionally and accurately.
The chairman of the Branding, Publicity, and Publications Committee, CITN, Prof. Godwin Oyedokun acknowledged the vital role of the media in shaping public opinion and influencing tax policies.
According to him, “This workshop serves as a platform for knowledge sharing, capacity building, and fostering a deeper understanding of taxation. We believe that informed reporting on tax matters is key to driving public awareness and accountability.”
The workshop featured sessions on essential topics such as ‘Basic Taxation Terminologies’ by Dr. Ismaila Olotu; ‘Tax Administration and Practice for Beginners’ by Mr. Olumide Esan; and ‘Tax Reporting for Media Practitioners’ by Barr. Chukwuemeka Eze.
The CITN reaffirmed its commitment to supporting media practitioners and fostering partnerships that advance public understanding of taxation as a critical driver of national development.
