12 Nigerian States Adopt Tax Harmonization Laws

Taiwo Oyedele, the Minister of State for Finance, disclosed that at least 12 states in Nigeria have adopted tax harmonization laws as part of ongoing fiscal reforms across the country. This announcement was made during a graduation ceremony for 5,900 young entrepreneurs trained by the MTN Foundation in various areas of entrepreneurship and business development.

The tax harmonization laws are key components of the federal government's broader tax reform agenda, which aims to modernize Nigeria's fiscal framework, stimulate business growth, protect vulnerable groups, and drive economic transformation. Oyedele emphasized the importance of financial discipline and proper record-keeping for long-term success.

As of December, Anambra State became the third state to adopt a harmonized tax levy law, following Zamfara and Ekiti states. Other states, including Jigawa, Plateau, Kogi, Nasarawa, and Kwara, are also initiating steps towards this new tax framework.

The Nigeria Revenue Service reported a projected revenue of N40.7 trillion from tax and royalties by 2026.