The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said Nigeria has fewer than 10 million active individual taxpayers, highlighting the country’s narrow tax base and the urgent need for data-driven reforms at subnational levels.
Oyedele made the disclosure on Tuesday while delivering a keynote address at the Tax Reform Summit 2026 in Lagos, themed “From Reforms to Results: The Lagos Implementation Roadmap, Creating a Tax Environment that Works for All.”
The summit was organised by the Office of the Special Adviser on Taxation and Revenue in collaboration with the Lagos State Treasury Office.
According to Oyedele, strengthening the quality of data for fiscal and economic planning is central to expanding the tax net, particularly in Lagos State.
He said credible databases covering property registers, individual taxpayers and fiscal operations are critical for effective revenue mobilisation.
“In Nigeria today, the number of active individual taxpayers is under 10 million for the entire country. That is the figure we should be targeting for Lagos State alone, and we must make it achievable,” he said, stressing that meaningful tax reform is impossible without reliable and comprehensive data.
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Oyedele also underscored the revenue potential of property taxation, describing it as one of the most stable but underutilised income sources for states and local governments. He said Lagos could generate up to ₦1 trillion annually if the sector is fully optimised.
He explained that taxing just two million properties in Lagos, with an average value of ₦100 million at a modest rate of 0.5 per cent, would yield about ₦1 trillion yearly.
According to him, such revenue could be channelled into infrastructure and public services, creating a virtuous cycle of development and rising property values.
The committee chairman said success in property taxation hinges on proper property enumeration, accurate valuation, transparent administration and predictable enforcement.
He also urged Lagos State to lead by example by adopting harmonised tax laws and strengthening legal frameworks to enhance collaboration among revenue-collecting agencies.
Oyedele disclosed that a model tax harmonisation law developed by the committee in partnership with the Joint Revenue Board has already been adopted by Ekiti, Zamfara, Anambra and Kano states, and called on Lagos to follow suit.
