Business
Nigeria Launches Major Tax Reforms to Boost Growth
Nigeria implements major tax reforms to simplify levies, enhance transparency, and support business growth under a harmonised national framework
Nigeria’s tax system is undergoing one of its most significant transformations in decades, with Executive Secretary of the Joint Revenue Board, Mr Olusegun Adesokan, describing the reforms as a turning point for national fiscal governance.
Also read: Double Taxation Explained: Do Nigerians Abroad Pay Tax in Two Countries?
In his article, “A New Fiscal Dawn: How Nigeria’s Tax Reforms Are Laying the Foundation for National Renewal,” Adesokan explained that the changes are a comprehensive restructuring of tax governance, collection, and revenue sharing, aimed at resolving inefficiencies that have long hindered the system.
The reform programme, driven by President Bola Ahmed Tinubu, has already resulted in four key laws: the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board of Nigeria (Establishment) Act.
These laws create a unified legal and institutional framework to streamline the tax system.
“For the first time in a long while, we now have a coordinated framework that modernises our tax ecosystem and aligns it with global best practices,” Adesokan said.
The reforms aim not only to increase revenue but also to make taxation fairer, more transparent, and less burdensome for small businesses and low-income earners.
Adesokan emphasised that close to 60 different taxes, levies, and charges are being consolidated into just nine categories to improve clarity and predictability for taxpayers.
The Joint Revenue Board has also introduced a Model States Taxes and Levies Harmonisation Law to guide state governments in aligning with the national framework.
To date, twelve states have enacted versions of the law, with others consulting stakeholders and moving through legislative processes.
Adesokan highlighted that the reforms target unauthorised roadside collections, promote electronic payment channels, and standardise assessment and collection processes, reducing corruption and revenue leakages.
“When taxes are clear, fair, and predictable, investors are more confident. The cost of doing business reduces, and that supports economic growth,” he said, noting that public understanding of taxation is gradually improving.
Also read: NEFGAD Demands Urgent Probe of Altered Tax Laws
The reforms are designed to support enterprise, strengthen institutions, and provide a stable foundation for sustainable development across Nigeria.
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Business
Kola Karim’s Shoreline Group Signs $300 million Deal With Accor to Develop Nigeria’s First National Hotel Platform
Kola Karim’s Shoreline Group has signed a letter of intent with Accor, a world leading hospitality group to establish Nigeria’s first national hotel platform.
The signing took place during the Africa Forward Summit 2026 hosted jointly by Kenya and France in Nairobi.
This ambitious partnership is set to make a significant contribution to the evolving Nigerian hospitality landscape with a substantial investment from Shoreline of $300 million, leveraging Accor’s renowned brand portfolio and expertise.
As gathered the strategic collaboration aims to develop a hotel network across Nigeria, encompassing 10 hotels across eight cities and over 1,200 rooms by 2030.
These properties will span various segments, from midscale to luxury, catering to diverse travelers and contributing significantly to the nation’s tourism growth. The project also includes the establishment of a dedicated hospitality training Academy to nurture local talent and create approximately 1,000 direct jobs.
Mr. Sébastien Bazin, Chairman and CEO of Accor, stated: “We are thrilled to partner with Shoreline Group to unlock the immense potential of Nigeria’s hospitality sector. This partnership is a testament to our belief in Nigeria’s dynamic future.
“By combining Shoreline’s deep understanding of the local market with Accor’s global expertise and diverse brand portfolio, we are poised to create an unparalleled hospitality offering that will set new benchmarks for quality and service.
“Crucially, the establishment of the Accor Academy is integral to this vision, enabling us to deliver immediate talent development for the Shoreline hotel portfolio, demonstrate our long-term commitment to Nigeria through dedicated training facilities, and solidify Accor’s position as the employer and educator of choice in West Africa.”
The Agbaoye of Ibadanland and Chairman of Shoreline Group, Karim, commenting on the development said: “This partnership is central to Shoreline’s strategy of building institutional-quality infrastructure platforms across Africa.
“We anticipate hospitality infrastructure becoming increasingly vital for capital movement and development, particularly in Nigeria where high-quality room supply is underserved. Our choice to partner with Accor highlights our focus on operational excellence and long-term value.
“The hospitality academy is crucial, alongside physical hotels, for developing local talent to sustain international standards. It will support our portfolio and enhance Nigeria’s hospitality workforce.
“This investment aligns with Shoreline’s broader focus on strategic assets in energy, infrastructure, and industrial development. We view hospitality as a natural extension: real infrastructure supporting economic activity, local capability, and national growth.”
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