Nigeria is once again at a critical juncture. The age-long unresolved challenges confronting the Nigerian economy suggest the country is approaching a similitude of being described as a failed state, with the possibility of disintegration should current trends persist. Nigeria’s high insecurity challenges is fuelled by its high unemployment rate, faltering economy with a double-digit inflation and increasing poverty level, inadequate access to quality education, among other challenges.
It is important for Nigeria to develop the right policy environment including tax reforms to remove the various impediments and reverse the worrying trend, and to do so urgently. To be effective, these interventions need to consider local economic, social and cultural contexts, as well as enhance capacity for policymakers and tax administrators leveraging on technology to ensure everyone benefits from the gains of development