No fewer than 12 states across Nigeria have officially enacted the Tax Harmonization Law, Dr. Taiwo Oyedele, the Minister of State for Finance (designate) has revealed.
Speaking during the graduation ceremony for the MTN Foundation’s Young Innovators and Entrepreneurs Training Initiative held at the Continental Hotel in Abuja, Oyedele noted that the reform momentum is accelerating, with an additional 13 states currently presenting the legislation before their respective Houses of Assembly, while the remaining states progress through various stages of implementation.
The Minister-designate emphasized that these reforms, championed under President Bola Tinubu’s administration, are specifically engineered to modernize Nigeria’s fiscal framework.
By harmonizing tax structures, the government aims to eliminate multiple taxation, create a more hospitable environment for businesses to thrive, and ensure the protection of vulnerable populations.
Oyedele noted that the ultimate objective is a comprehensive economic transformation that balances revenue generation with private-sector growth.
In addition to the policy update, Oyedele commended the MTN Foundation for its sustained commitment to human capital development.
He highlighted the impact of the foundation’s training program, which has equipped over 15,000 young Nigerians with essential entrepreneurial skills.
To further catalyze job creation and innovation, the initiative is set to disburse approximately ₦300 million in business grants to its graduates, a move the Minister-designate described as vital for fostering a new generation of economic drivers.