The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has officially inaugurated the National Tax Policy Implementation Committee (NTPIC) on behalf of the Federal Government.
A statement from the Ministry of Finance noted that the move represents a significant milestone toward establishing a modern, transparent, and technology-driven tax system that can enhance Nigeria’s economic competitiveness.
Speaking to committee members both in Abuja and virtually, the Minister highlighted that the newly enacted tax legislation is one of the most transformative reforms to Nigeria’s tax framework in recent years.
He emphasized that successful implementation will demand strict coordination, broad nationwide engagement, and clear, confidence-boosting communication—particularly with the private sector and financial markets.
Referencing the recent market fluctuations caused by misunderstood information, Edun stated: “Our communication must steady the markets, restore confidence, and build trust.”
He further reiterated the government’s adherence to due process, clarifying: “The government has no authority to access private bank accounts. Our priority is lawful and transparent reform.”
He noted that these reforms are key to President Bola Tinubu’s Renewed Hope Agenda and align with the Economic Management Team’s efforts to stabilize the economy and enhance the business climate.
In his inaugural remarks as Chairman, Joseph Tegbe expressed gratitude to the President and the Minister for their trust, promising an approach that is balanced and mindful of the private sector. “Tax reforms must never hinder enterprise or innovation. Our efforts will be guided by the principles of equity, certainty, convenience, and competitiveness,” he said.
The committee is set to commence work immediately, with subcommittees and a December work plan to be released as it proceeds to align implementation, address administrative challenges, and deliver a coordinated rollout aimed at boosting trust, compliance, and sustainable economic growth.
