Nigeria has less than 10m taxpayers — Oyedele
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, indicated that Nigeria has fewer than 10 million active individual taxpayers, a situation that underscores the country’s limited tax base and emphasizes the pressing need for data-driven fiscal reforms, especially at the subnational level.
Oyedele shared this information on Tuesday while presenting the keynote speech at the Tax Reform Summit 2026 held in Lagos. The summit's theme was “From Reforms to Results: The Lagos Implementation Roadmap, Creating a Tax Environment that Works for All.”
This summit was organized by the Office of the Special Adviser on Taxation and Revenue in partnership with the Lagos State Treasury Office.
During his speech at the summit, Oyedele highlighted that enhancing the quality of data utilized for fiscal and economic planning is vital for widening Nigeria's tax net, with Lagos State playing a crucial role in fostering such reforms.
He noted that dependable and extensive databases covering property registers, individual taxpayers, and fiscal operations are essential for effective revenue generation and sustainable tax administration.
“In Nigeria today, the total number of active individual taxpayers is below 10 million for the entire country. I believe that should be the figure for Lagos State alone, and it is imperative that we work towards that,” he mentioned.
Oyedele stressed that significant tax reform cannot occur without credible, precise, and thorough data systems that enable governments to plan, monitor, and enforce tax policies successfully.
Additionally, he pointed out the substantial yet largely unexploited revenue potential of property taxation, highlighting it as one of the most reliable income sources available to states and local governments nationwide.
As per his assessment, if Lagos State harnessed the full potential of this sector, it could generate approximately ₦1 trillion annually from property tax.
He elaborated that if just two million properties in Lagos were included in the tax system, each valued at an average of ₦100 million and subjected to a modest tax rate of 0.5 percent, the state could achieve ₦1 trillion in annual revenue.
Oyedele stated that this revenue, if efficiently managed, could be reinvested into infrastructure development and enhanced public services, which would consequently promote economic growth and elevate property values within the state.
The chairman of the tax reform committee highlighted that the success of property taxation relies on appropriate property enumeration, precise valuation processes, transparent administration, and predictable enforcement mechanisms.
He further encouraged Lagos State to lead the way by implementing harmonized tax laws and reinforcing legal frameworks that encourage collaboration among revenue-collecting agencies.
Oyedele disclosed that a model tax harmonization law, created by the committee in cooperation with the Joint Revenue Board, has already been adopted by states such as Ekiti, Zamfara, Anambra, and Kano.
He therefore urged Lagos State to take a cue from those states by embracing the harmonized tax framework to improve efficiency, lessen multiple taxation, and enhance revenue outcomes.
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