New tax legislation aims to build trust, not merely raise revenue.

By Emma Ujah, Abuja Bureau Chief

The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, emphasized that the new Tax Acts aim to build public trust rather than merely increase revenue.

He addressed the audience virtually yesterday at the opening of the 2026 Annual Conference of the Chartered Institute of Taxation of Nigeria (COTN) in Abuja.

Oyedele explained that while the government seeks to raise more revenue, this goal can only be met if citizens understand the collective benefit of paying taxes.

He noted that the revised tax framework has simplified payment procedures, reduced the number of taxes, and exempted low‑income earners from Personal Income Tax.

Oyedele urged tax professionals to act as advisors to the government, helping clients and the public interpret the new legislation.

In his remarks, Dr. Tope Fashua, Special Adviser to the President on Economic Matters in the Office of the Vice President, said fiscal policies must continuously evolve.

He stated, “Given recent events around the world, there is a need for the government to be very prepared and for fiscal policies to continue to evolve.”

Fashua added that fiscal reform is a gradual process, observing, “It’s not going to be a walk in the park. It’s not going to be an easy affair; if it was, it would have been done a long time ago. So people will still complain about multiple taxation, levies from local governments and all of that.”

He continued, “I’m sure it still costs a lot to ship, to move a trailer from Kano to Lagos Port carrying commodities—many stoppages along the way.”

“But the process has started to outlaw some of those collections. And of course, we also depend on Nigerians because again, those who are collecting this unnecessary money are also Nigerians. So we have to appeal to ourselves. We also have to be watchdogs.”

Speaking at the conference, CITN President Mr. Innocent Ohagwa highlighted the relevance of this year’s theme, which focuses on “building a tax system that is globally relevant, economically competitive, socially equitable, and fiscally sustainable.”

In a separate report, Dangote Cement disclosed that it completed ten clinker shipments from Nigeria to neighboring markets during the period under review, reinforcing its position as Africa’s leading cement exporter. The company’s unaudited Q1 2026 results showed total sales volumes rising 13.8 percent year‑on‑year, driven by an 11.5 percent increase in Nigeria and a 19.5 percent rise across its pan‑African operations.

Group Managing Director and Chief Executive Officer of Dangote Cement Plc, Arvind Pathak, said the performance reflected the strength of the company’s operating model and disciplined execution across markets.

He remarked, “We have delivered an outstanding start to 2026, with revenue up 20.4 percent year on year to N1.198 trillion, driven by a strong rebound in volumes which grew 13.8 percent across our markets. EBITDA increased by 22.8 percent to N567.1 billion, demonstrating the strength of our operating model, disciplined cost control, and our ability to convert growth into superior profitability.”

For the quarter,