The Federal Government has unveiled the Tax Reform Challenge, a national competition designed to engage Nigerian students in creative discussions about the country’s new tax reform laws and their impact on the economy.
Announcing the initiative on Friday via his official X handle, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, said the competition seeks to raise awareness, promote tax education, and encourage youth-led dialogue on Nigeria’s fiscal reforms.
Oyedele explained that the challenge is part of the committee’s broader strategy to deepen public understanding of the new tax laws and give young Nigerians a platform to share innovative ideas that can shape the country’s fiscal policies.
The competition is open to undergraduates in all Nigerian tertiary institutions as well as graduates currently undergoing the NYSC programme or awaiting mobilisation. Eligible participants include students from universities, polytechnics, and colleges of education.
To participate, entrants are required to study the new tax laws and create an educative and engaging article, video, podcast, radio programme, or social media post published between July 1 and December 31, 2025. Oyedele emphasised that submissions must be fact-based and can even include constructive criticism of the reforms.
Entries will be judged on creativity, factual accuracy, and their ability to inform or engage the public on tax-related issues.
The competition comes with cash prizes totalling N10 million. The first-place winner will receive N5 million, the second-place winner N3 million, and the third-place winner N2 million. There will also be consolation prizes for the top 10 finalists from each geopolitical zone, including gadgets, internships or employment opportunities, and Tax Reform Youth Ambassador honours.
According to Oyedele, the ambassadors will help promote fiscal literacy and drive youth participation in tax-related discussions across Niger
ia. Interested applicants can visit fiscalreforms.ng for more information and submission details.
The competition follows the enactment of four major tax reform bills signed into law by President Bola Tinubu on June 26, 2025. The new laws, the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act , mark one of the most comprehensive overhauls of Nigeria’s tax system in decades.
Two of the laws, the Revenue Service Act and the Joint Revenue Board Act, took effect immediately upon signing, while the Tax Act and Tax Administration Act will take effect from January 1, 2026.
The reforms introduce several changes designed to simplify tax administration and boost compliance. They include exemptions for small businesses with annual turnover below N100 million and assets under N250 million, ensuring that many MSMEs are not overburdened by corporate taxes. The personal income tax threshold has also been adjusted, with earners making below N800,000 per year exempt from income tax beginning in 2026.
The new framework also introduces tougher compliance rules such as mandatory e-invoicing for VAT-registered businesses and stricter record-keeping requirements. Beyond compliance, the reform aims to harmonise tax laws across federal, state, and local governments, a move expected to reduce duplication and improve the ease of doing business, particularly for small and medium enterprises.
Through initiatives like the Tax Reform Challenge, the government hopes to create a new generation of tax-conscious citizens who can actively contribute to shaping Nigeria’s fiscal future.
