The Federal Authorities has launched the Tax Reform Problem, a nationwide competitors designed to interact Nigerian college students in discussions and creativity across the nation’s new tax reform legal guidelines.
This was introduced by the Chairman of the Presidential Committee on Fiscal Coverage and Tax Reforms, Taiwo Oyedele, on Friday by way of his official X deal with
In response to Oyedele, the competitors goals to boost consciousness, promote tax schooling, and encourage constructive youth-led dialogue on Nigeria’s tax reform.
He defined that the initiative is a part of the committee’s technique to deepen public understanding of the brand new tax insurance policies and provides younger Nigerians a platform to contribute revolutionary concepts that may form fiscal reform discussions.
Who can take part
In response to the announcement, the competitors is open to undergraduates in all Nigerian tertiary establishments and graduates who’re at present present process the NYSC program or awaiting mobilisation.
- This implies college students from universities, polytechnics, and faculties of schooling, in addition to latest graduates, are eligible to take part.
- Members are required to learn the brand new tax legal guidelines, create and submit an article, video, podcast, radio piece, or social media put up printed from 1 July – 31 December 2025 referring to the tax reform.
- Oyedele added that content material should be educative, participating, and fact-based, noting that entries which are essential of the reform are welcome.
Entries will likely be assessed primarily based on their creativity, factual accuracy, and talent to tell or have interaction the general public on tax points.
Prizes and alternatives
Winners of the Tax Reform Problem stand an opportunity to win a complete of N10 million in money prizes and different incentives.
- 1st Prize: N5 million
- 2nd Prize: N3 million
- third Prize: N2 million
Oyedele additional revealed that comfort prizes for prime 10 finalists from every geopolitical zone, together with devices, internships or employment alternatives, and Tax Reform Youth Ambassador honours would even be awarded.
The Tax Reform Youth Ambassadors are anticipated to advertise fiscal literacy and drive youth participation in tax-related discussions nationwide.
college students are suggested to go to fiscalreforms.ng for extra data and software particulars.
What it’s best to know
The Nigerian authorities introduced that the 4 tax reform payments have been signed into regulation. The reform consists of 4 key items of laws: the Nigeria Tax Act, 2025, the Nigeria Tax Administration Act, 2025, the Nigeria Income Service (Institution) Act, 2025 and the Joint Income Board (Institution) Act, 2025. These payments have been signed into regulation by Bola Tinubu on 26 June 2025.
Inside the suite, two of the legal guidelines (the Income Service Act and Joint Income Board Act) turned efficient instantly on the signing date. The remaining two, the Tax Act and Tax Administration Act are set to start on 1 January 2026.
In response to Nairametrics, the reforms mark one of the sweeping overhauls of Nigeria’s tax system in many years. They embody the next:
- A excessive exemption threshold for small companies: for instance, firms with annual turnover underneath N100 million and belongings underneath N250 million could also be exempt from company tax.
- Private revenue tax threshold modifications: one report signifies that from 2026, earners beneath N800,000 annual revenue could pay no revenue tax.
- Stricter and expanded compliance obligations: companies will face more durable record-keeping necessities, obligatory e-invoicing for VAT-registered companies, and extra detailed transaction reporting.
- A system-wide shift towards harmonisation of tax legal guidelines and administration throughout federal, state and native ranges, lowering duplication and enhancing ease of doing enterprise.