FG Launches N10 million Tax Reform Challenge for Nigerian Students

FG Launches N10 million Tax Reform Challenge for Nigerian Students

The Federal Government of Nigeria has unveiled the Tax Reform Challenge, a national competition aimed at engaging young Nigerians in meaningful discussions and creative projects around the country’s new tax reform laws.

The initiative was announced by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, via his official X (Twitter) handle on Friday.

According to Oyedele, the challenge seeks to raise public awareness, promote tax education, and inspire youth-led dialogue that supports Nigeria’s ongoing fiscal reform efforts.

Encouraging Youth Participation in Tax Policy Discussions

Oyedele explained that the competition aligns with the committee’s broader strategy to deepen public understanding of the recently enacted tax laws while providing a platform for young Nigerians to contribute innovative ideas to the national conversation on fiscal policy.

He emphasized that the programme is designed to make taxation more relatable and to ensure young people play an active role in shaping future tax reforms.

Who Can Participate in the Challenge?

The Tax Reform Challenge is open to:

• Undergraduate students enrolled in any Nigerian university, polytechnic, or college of education.
• Graduates currently in the NYSC programme or awaiting mobilisation.

Participants are required to study the new tax laws and create an original submission in the form of an article, video, podcast, radio feature, or social media post published between July 1 and December 31, 2025, addressing key aspects of Nigeria’s tax reform.

Oyedele noted that entries should be educational, engaging, and fact-based, adding that constructive criticism of the reforms is welcome.

Submissions will be judged based on creativity, accuracy, and impact in educating the public about Nigeria’s evolving tax system.

Prizes and Opportunities Worth ₦10 Million

Winners of the Tax Reform Challenge will share ₦10 million in cash prizes, alongside exclusive career opportunities and recognition.

1st Prize: ₦5 million
2nd Prize: ₦3 million
3rd Prize: ₦2 million

Additionally, the top 10 finalists from each geopolitical zone will receive consolation prizes, including gadgets, internship placements, employment opportunities, and appointments as Tax Reform Youth Ambassadors.

These ambassadors will champion fiscal literacy and promote youth participation in tax-related discussions across Nigeria.

Interested participants can visit fiscalreforms.ng for detailed guidelines and application information.

Background: Nigeria’s New Tax Reform Laws

The competition follows the Federal Government’s approval of four major tax reform laws, signed by President Bola Tinubu on June 26, 2025.

The new laws are:

1. Nigeria Tax Act (2025)
2. Nigeria Tax Administration Act (2025)
3. Nigeria Revenue Service (Establishment) Act (2025)
4. Joint Revenue Board (Establishment) Act (2025)

While the Revenue Service Act and Joint Revenue Board Act took effect immediately, the Tax Act and Tax Administration Act will commence on January 1, 2026.

Highlights of the 2025 Tax Reforms

According to Nairametrics, these reforms represent one of the most comprehensive overhauls of Nigeria’s tax system in decades. Key features include:

• Tax relief for small businesses: Companies earning below ₦100 million annually and holding assets under ₦250 million will be exempt from corporate tax.
• Personal income tax reform: Nigerians earning below ₦800,000 annually will be exempt from income tax starting in 2026.
• Tougher compliance requirements: Mandatory e-invoicing, enhanced record-keeping, and stricter reporting obligations for registered businesses.
• Tax harmonisation: A streamlined framework to align federal, state, and local tax laws—reducing duplication and improving Nigeria’s ease of doing business.

A Push Toward Fiscal Transparency and Youth Inclusion

Through the Tax Reform Challenge, the Federal Government aims to make fiscal policy education accessible to young Nigerians and encourage their involvement in shaping a fairer and more transparent tax system.

Oyedele reaffirmed that the initiative reflects the administration’s commitment to inclusive reform, public engagement, and innovation-driven governance.

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