Onome Amuge
Nigeria’s most ambitious tax overhaul in decades is beginning to ripple through households and boardrooms. However, helping ordinary taxpayers and small businesses make sense of the changes has emerged as a new challenge. Thus, financial services conglomerate Leadway Group has positioned itself as a mediator between government policy and private-sector compliance.
Partnering with the Presidential Committee on Fiscal Policy and Tax Reforms, Leadway convened more than 500 individuals and business operators for a webinar designed to translate Nigeria’s new tax regime into actionable strategies for citizens and entrepreneurs.
The event underscores how corporate Nigeria is increasingly stepping into roles once reserved for government agencies, as regulatory changes outpace the state’s capacity to educate and guide those most affected.
“Reforms are only as effective as the understanding of those they affect. Our objective with this session was to break down the complexities of the new tax law and equip businesses and individuals with practical insights they can act on,”said Yetunde Fadipe, Leadway Holdings’ head of tax.
The reforms, introduced this year, are intended to simplify Nigeria’s complex tax system, reduce compliance costs, and broaden the revenue base. At their core is a promise that individuals will retain more disposable income, while small companies ,often overwhelmed by overlapping levies at federal, state, and local levels, will face fewer bottlenecks.
Taiwo Oyedele, chairman of the Presidential Committee, told participants that the overhaul is as much about fairness as it is about revenue. “These reforms are not just about raising revenue; they are about creating a simpler, more transparent, and equitable tax system. If we get compliance right, we can unlock growth for businesses, strengthen the economy, and build public trust in the system,” he said.
For years, Nigeria’s tax-to-GDP ratio has hovered around 10 per cent, one of the lowest in Africa, leaving government coffers heavily dependent on volatile oil receipts. Nigeria’s reform agenda aims to shift that balance by expanding the base of taxpayers, while reducing the burden on those already compliant.
But analysts warn that implementation will hinge on public trust and comprehension. Many SMEs remain wary of reforms, associating tax authorities with harassment rather than service delivery. By hosting explanatory forums, companies like Leadway are helping bridge a credibility gap.
Leadway executives framed their role as part of a broader push for national development. “Our role extends beyond providing financial services. We recognise the importance of empowering individuals and businesses to use financial tools and policies to create sustainable livelihoods,” said Olusakin Labeodan, managing director of Leadway Pensure.
The webinar highlighted provisions most relevant to SMEs and digital businesses, which have often struggled under Nigeria’s fragmented tax system. Compliance strategies discussed ranged from record-keeping and digital filing to navigating incentives for reinvestment.
