By: Abba Onyekachukwu, Abuja.
The Federal Ministry of Industry, Trade, and Investment (FMITI) has initiated a high-level Virtual Stakeholders’ Dialogue to discuss Nigeria’s new fiscal and regulatory framework, aiming to promote transparency, competitiveness, and private-sector-led economic growth. The dialogue is part of the government’s efforts to ensure a smooth transition to the reformed tax and fiscal architecture, effective January 1, 2026.
This was contained in a press release from Head, Press and PR of the Ministry, Augustina Obilo-Duru, on Thursday
Honourable Minister Dr. Jumoke Oduwole reaffirmed the administration’s commitment to fiscal discipline, regulatory modernization, and a business-friendly environment under President Bola Ahmed Tinubu’s Renewed Hope Agenda. She emphasized the importance of raising awareness about the new policies, deepening consultation with businesses, and ensuring a seamless transition.
Key aspects of the new framework include a modern and transparent tax system, automation of compliance, and enhanced support for MSMEs, exporters, and digital enterprises. The National Revenue System (NRS) is being implemented to automate compliance, ensure fair enforcement, and reduce manual intervention.
The dialogue brought together stakeholders, including manufacturers, MSMEs, exporters, regulatory agencies, and academia, to shape policies fostering a robust industrial ecosystem. The government assured investors that incentives remain secure, protected, and supported by a more predictable operational environment.
