The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Monday inaugurated the National Tax Policy Implementation Committee (NTPIC), a move described as a major milestone toward building a modern, transparent and technology-driven tax system to enhance Nigeria’s economic competitiveness.
Speaking in Abuja — with some participants joining virtually — Edun said the recently enacted tax legislation represents one of the most significant updates to Nigeria’s tax framework in years. He emphasised that effective implementation will rely on disciplined coordination across government agencies, broad national consultation and clear, confidence-building communication, especially with the private sector and financial markets.
Referencing recent market volatility caused by misinterpreted information, the Minister stressed the importance of clarity and accuracy in public communication.
“Our communication must calm the markets, build confidence and engender trust,” Edun said.
He further reassured Nigerians and investors: “Government cannot intrude into private bank accounts. Our focus is lawful, transparent reform.”
Edun noted that the ongoing reforms are central to President Bola Ahmed Tinubu’s Renewed Hope Agenda and align with the Economic Management Team’s efforts to stabilise the economy, boost investment and improve the overall business climate.
In his inaugural remarks as Chairman of the NTPIC, Mr. Joseph Tegbe expressed gratitude to the President and the Minister for their confidence, pledging a balanced and private-sector-friendly approach.
“Tax reforms must never stifle enterprise or innovation,” Tegbe said. “Our work will uphold the principles of equity, certainty, convenience and competitiveness.”
The committee is set to begin work immediately. Subcommittees and a December work plan will be unveiled as the team moves to harmonise implementation strategies, resolve administrative bottlenecks and ensure a coherent rollout designed to strengthen public trust, enhance compliance and support long-term economic growth.
