Govt institutes must boost taxpayers’ confidence — Tax Ombud - Punch Newspapers

The Chief Executive of the Office of the Tax Ombud, Dr John Nwabueze.

The Chief Executive of the Office of the Tax Ombud, Dr John Nwabueze, has charged financial journalists across the country to promote tax literacy and foster a better understanding of Nigeria’s ongoing tax reforms aimed at deepening national prosperity. Nwabueze made the call on Saturday at the 36th Anniversary Conference of the Finance Correspondents Association of Nigeria in Lagos, where he spoke on the theme, “Building Taxpayer Confidence and Trust in Nigeria’s Tax Reform Agenda”. “We must build institutions that taxpayers can approach with confidence and revenue authorities can engage with constructively. The objective is to strengthen lawful administration and encourage responsible engagement,” he stated. Nwabueze said the Office of the Tax Ombud was committed to contributing to a broader understanding of the objectives and outcomes of the tax reform agenda. “We must build institutions that taxpayers can approach with confidence and revenue authorities can engage with constructively. The objective is to strengthen lawful administration and encourage responsible engagement,” he added.See more Punch stories on Google.Add Punch on Google According to the Tax Ombud, the media serves as an important bridge between policy institutions and the public, as financial journalists help translate the government’s fiscal policies and positions into information that businesses, households, investors and policymakers can understand. Nwabueze identified five key areas where financial journalists can make a significant contribution. These include explaining the law and its practical implications; examining implementation rather than merely reporting announcements; distinguishing lawful tax planning from tax evasion; investigating administrative fairness; and promoting financial and tax literacy. “The media’s role is not to endorse every government policy or oppose every reform. It is to inform the public, ask difficult questions, verify claims and hold institutions accountable. A trusted financial press strengthens the quality of public discourse,” Nwabueze asserted. As the Nigeria Revenue Service reports sharp increases in collections following the reforms, with tax revenue rising from about N12.3tn in 2023 to N28.3tn in 2025, the Tax Ombud said the media must help citizens understand what the numbers mean for service delivery and economic development. Evening recap: Tinubu extends vacation, Dangote announces 2028 fertiliser IPO, other top stories Tinubu extends vacation in Europe, sets weekend return to Nigeria 2027: Tinubu warns police against partisan conduct He stressed that the public needs reporting that explains not only how much revenue is collected, but also the relationship between revenue generation, public expenditure, service delivery and economic development. The OTO, which began full operations on January 1, 2026, was established under the Joint Revenue Board (Establishment) Act, 2025, as part of the broader 2025 tax reforms that also produced the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service Establishment Act and related laws. Under the law, the Tax Ombud can receive, review and investigate complaints against tax officials and agencies; mediate disputes; issue guidelines and directives; make recommendations to revenue authorities; and, where necessary, institute legal proceedings on behalf of taxpayers at no cost to them. Commending President Bola Tinubu for his leadership and commitment to reforming Nigeria’s tax and revenue administration framework for greater fairness, inclusiveness and sustainability, the Tax Ombud said the comprehensive tax and revenue reforms had, most importantly, given rise to the establishment of the Office of the Tax Ombud to promote confidence in the tax system. FICAN Chairman, Mr Chima Titus Nwokoji, urged Nigerian banks to ensure that the recently concluded recapitalisation exercise translates into tangible economic growth, job creation, and stronger financial stability. Nwokoji reminded stakeholders that recapitalisation was “never an end in itself”, adding, “The N4.65tn raised — about 73 percent of it from Nigerian investors — must now be channelled into productive sectors of the economy. Stronger balance sheets must translate into increased financing for businesses that create jobs, raise productivity and generate foreign exchange.” He noted that while 33 banks successfully met the revised minimum capital requirements, the real test lies in how the new capital is deployed. He drew a sharp comparison with the Dangote Refinery IPO, expected to raise N2.15tn, almost half of what the entire banking sector mobilised over two years. “So, as journalists, we must always ask the hard questions: How significant is the capital our banks have raised? And, more importantly: What are they doing with it right now?” he asked. Felix Oloyede

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