Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on behalf of the Federal Government, has inaugurated the National Tax Policy Implementation Committee (NTPIC).
A statement from the Ministry of Finance described the move as a significant step toward a modern, transparent, technology-driven tax system designed to enhance Nigeria’s economic competitiveness.
Speaking to members in Abuja and virtually, the Minister said the recently passed tax legislation represents one of the most transformative updates to Nigeria’s tax framework in years. He emphasized that successful implementation would require disciplined coordination, nationwide consultation, and precise, confidence-building communication, particularly with the private sector and financial markets.
Citing recent market volatility triggered by misinterpreted information, Edun noted: “Our communication must calm the markets, build confidence, and engender trust.” He also reiterated the government’s commitment to due process: “Government cannot intrude into private bank accounts. Our focus is lawful, transparent reform.”
The Minister highlighted that these reforms form a central part of President Bola Tinubu’s Renewed Hope Agenda and the Economic Management Team’s efforts to stabilise the economy and improve the business environment.
In his first remarks as Chairman, Joseph Tegbe thanked the President and Minister for their confidence and promised a balanced, private-sector-sensitive approach: “Tax reforms must never stifle enterprise or innovation. Our work will uphold the principles of equity, certainty, convenience, and competitiveness.”
The committee has commenced work immediately, with subcommittees and a December work plan set to guide efforts to harmonize implementation, resolve administrative challenges, and ensure a coherent rollout that strengthens trust, compliance, and long-term economic growth.