Chartered Institute of Taxation of Nigeria (CITN) has commended on-going discussions around the proposed tax reform, describing it as a development which will usher in a new lease of life for businesses.
President of the Institute, Barrister Samuel Agbeluyi, disclosed this in Lagos at a one-day media workshop for tax and finance correspondents.
He 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 just as he welcomed stakeholders’ interest in the bills and urged constructive engagement to ensure they address systemic challenges while fostering a conducive environment for business growth.
He also emphasized 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.
He noted the importance of equipping media practitioners with the tools and knowledge needed to report tax issues professionally and accurately.
The workshop, organized by the Branding, Publicity, and Publications Committee led by Prof. Godwin Oyedokun, was part of CITN’s ongoing efforts to build capacity among journalists and address misconceptions about Nigeria’s evolving tax landscape.
“We understand the complexities surrounding taxation and the need for accurate dissemination of information,” he stated. “This workshop is aimed at enhancing your capacity to inform the public effectively, especially at a time when the government is implementing significant tax reforms.”
The CITN President highlighted key reforms undertaken by the Nigerian government since May 2023, including:
Executive Orders: Suspension of excise duties on telecommunications, import adjustment taxes, and green taxes to ease economic burdens.
Fiscal Incentives for the Gas Sector: Waivers and VAT exemptions to promote gas utilization and economic growth.
Finance Act 2023 Amendments: Streamlining tax laws and improving compliance mechanisms for businesses and individuals.
Barrister Agbeluyi also discussed 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 welcomed stakeholder interest in the bills and urged constructive engagement to ensure they address systemic challenges while fostering a conducive environment for business growth.
Barrister Agbeluyi concluded by encouraging journalists to apply the knowledge gained from the workshop to their work, emphasizing the importance of responsible reporting in shaping Nigeria’s tax reforms and fiscal stability.
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.
Delivering the welcome address, Prof. Godwin Oyedokun, FCTI, Chairman of the Branding, Publicity, and Publications Committee, acknowledged the vital role of the media in shaping public opinion and influencing tax policies.
He praised the visionary leadership of CITN President Barrister Samuel Agbeluyi, mni, FCTI, and the support of the Finance Correspondents Association of Nigeria (FICAN), which has been instrumental in making the workshop a success.
“This workshop serves as a platform for knowledge sharing, capacity building, and fostering a deeper understanding of taxation,” Prof. Oyedokun stated. “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.
These sessions were designed to equip reporters with tools to improve the accuracy and depth of tax-related stories.
Participants were encouraged to engage actively in discussions and leverage the expertise of CITN professionals to refine their reporting. Prof. Oyedokun commended the media’s commitment to responsible journalism and reiterated the institute’s pledge to promote a better understanding of taxation’s role in national development.
With a shared goal of improving public discourse on tax matters, the CITN called for stronger collaborations with the media to foster transparency, accountability, and informed decision-making, thereby contributing to Nigeria’s economic growth.
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