The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to ensure transparent and collaborative implementation of the incentives contained in the newly enacted Nigeria Tax Reform Act 2025, stressing that such measures could accelerate industrialisation and inclusive growth.
Speaking yesterday in Lagos at the Private Sector Stakeholders’ Forum on Emerging Tax Matters, LCCI President, Gabriel Idahosa, highlighted the opportunities embedded in the new legislation, particularly in digital taxation, unified filing systems, and incentives for green and export-oriented industries.
He noted that while the Act presents a bold framework, its success depends on effective execution.
“The Nigeria Tax Reform Act 2025 offers a bold opportunity to strengthen the social contract. Yet bold legislation alone is not enough; effective and collaborative implementation will determine whether we unlock the inclusive prosperity we all seek,” he said.
Idahosa stressed the need for clarity and transparency in administering the new Investment and Export Incentive Schemes, ensuring they stimulate industrial growth rather than open doors to misuse. He also emphasised the importance of efficient dispute-resolution processes through the Tax Appeal Tribunal to protect enterprises from crippling conflicts.
The LCCI president acknowledged reforms already initiated by the Federal Inland Revenue Service (FIRS) and the Lagos State Internal Revenue Service (LIRS), such as digital compliance, unified Tax Identification Numbers, and improved revenue transparency. He said these align with the 2025 Act’s technology-driven approach, but urged further adaptability as commerce grows more digital, cross-border, and innovation-driven.
“Taxation works best when taxpayers see visible value,” Idahosa added, noting that the Act’s provisions for accountability must be matched with tangible improvements in infrastructure, public services, and governance.
