The Federal Government has launched a ₦10 million Tax Reform Challenge for Nigerian students to boost awareness and participation in the country’s ongoing fiscal reform agenda.
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, announced the initiative on Friday via X (formerly Twitter), describing it as “big news for Nigerian students.”
According to Oyedele, the challenge aims to encourage undergraduates and National Youth Service Corps (NYSC) members to engage with the new tax reform laws through creative and educational content.
“The goal is to raise awareness, promote tax education, and inspire constructive youth-led dialogue on Nigeria’s tax reform,” he said.
The competition is open to students in tertiary institutions and recent graduates awaiting NYSC mobilisation. Participants are required to study the new tax laws and submit an article, video, podcast, radio segment, or social media post published between July 1 and December 31, 2025.
Entries will be judged on their creativity, factual accuracy, and educational impact. Oyedele noted that submissions critical of government policy are welcome, provided they are objective and evidence-based.
The prize structure includes ₦5 million for the first prize, ₦3 million for second place, and ₦2 million for third place. The top 10 finalists from each geopolitical zone will also receive consolation prizes such as gadgets, internships, employment opportunities, and recognition as Tax Reform Youth Ambassadors.
Encouraging participation, Oyedele wrote:
“Don’t just watch history. Shape it Read. Create. Educate. Grow.”
The Presidential Fiscal Policy and Tax Reforms Committee was inaugurated by President Bola Tinubu in August 2023 to review and harmonise Nigeria’s tax system, reduce multiple taxation, and improve revenue generation without overburdening citizens or businesses.
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Following Tinubu’s approval, Nigeria’s new tax reform laws Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service (Establishment) Act 2025, and Joint Revenue Board (Establishment) Act 2025 were gazetted on September 10, 2025.
The reforms provide incentives such as tax exemptions for small businesses with turnovers below ₦100 million and potential corporate tax cuts for large firms from 30% to 25%. They also introduce a 5% annual tax credit for qualified projects in priority sectors.
The new laws are set to take effect between June 2025 and January 2026, supporting President Tinubu’s Renewed Hope Agenda to diversify the economy and strengthen fiscal stability.
