Eko Club 2026 Public Lecture: Experts Seek Stronger Fiscal Federalism, Tax Harmonisation Under 2025 Tax Act
LAGOS, Nigeria — Leading tax experts, government representatives and stakeholders have called for stronger fiscal federalism, harmonization of taxes and greater development at the local government level as critical steps to unlocking Nigeria’s economic potential under the 2025 Tax Act.
The call was made at the 2026 Eko Club Business Luncheon and Public Lecture held on Wednesday, February 11, 2026, at The Blessings Hall, Eko Club, Surulere, Lagos. Themed “Fiscal Federalism and the 2025 Tax Law,” the event brought together policymakers, legal scholars, revenue administrators and members of the public to examine the implications of the newly enacted tax regime.
In his welcome address, the President of Eko Club, Adedeji Surajudeen Lawal, Esq., GCHB, said the Club deemed it necessary to organise a discourse on the 2025 Tax Act because of its far-reaching consequences for individuals, businesses and subnational governments.
Lawal described Eko Club as one of the foremost socio-cultural organisations in the country, noting that it cannot afford to be indifferent to economic, political and social developments that impact its members and society at large.
“As our forefathers would say, ‘Irorun igi, nirorun eye’ — the comfort of the tree is the comfort of the bird,” he said, adding that the luncheon forms part of the Club’s corporate social responsibility to promote informed public engagement on critical national issues.
Tax Reform and National Debate
Lawal noted that taxation remains one of the most sensitive yet unavoidable aspects of governance, recalling the popular saying that “two things are certain: death and tax.” He observed that Nigeria has long struggled with inadequate tax compliance and underdevelopment of non-oil revenue sources.
According to him, the 2025 Tax Act was introduced to bridge this gap by codifying existing tax laws, strengthening administration and expanding revenue generation beyond oil. However, he acknowledged that the law has generated mixed reactions from individuals, corporate organisations and the organised private sector.
“This programme provides an opportunity for experts and relevant government agencies to explain the intendment of the law and its effect on constituent states, individuals and businesses,” he said.
Professor Sanni Leads Discussion
Delivering the keynote lecture, Professor Abiola Sanni, SAN, Dean of the Faculty of Law, University of Lagos, and holder of the Professorial Chair in Taxation and Fiscal Matters, provided an in-depth analysis of fiscal federalism and the structure of the 2025 Tax Act.
He emphasised the importance of clarity in revenue allocation, joint revenue frameworks and the establishment of efficient tax institutions to drive national development. Professor Sanni underscored the need for a national consensus on tax reform, warning that without cooperation between federal, state and local governments, fiscal federalism would remain ineffective.
The moderator, Mr. Sigismund Babaseyi Joseph, SAN, steered discussions among a panel that included Mr. Femi Olarinde, representing the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zach Adedeji; Mr. Tokunbo Akanni, representing the Chairman of the Lagos State Internal Revenue Service (LIRS); Mr. Subair, Special Adviser on Taxation; and Mr. Ogungbo.
Harmonisation and Protection of the Poor
Panelists identified tax harmonisation as a central pillar of the reform, noting that multiple taxation and regulatory overlaps have historically burdened businesses and discouraged investment.
They highlighted innovations in the 2025 Tax Act, including updated withholding tax regulations, the introduction of credit mechanisms, clearer thresholds for tax payments, and the deployment of technology to enhance compliance and reduce administrative bottlenecks.
Participants also stressed the need to protect low-income earners and small businesses from undue hardship, urging policymakers to balance revenue generation with social equity.
Local Governments at the Core
A key highlight of the lecture was the discussion on the role of local governments in fiscal federalism. Speakers argued that sustainable national development cannot be achieved without strengthening grassroots governance.
“If the local government is not developed, we cannot get anything in Nigeria,” one of the discussants remarked, reinforcing the need for greater state ownership, clearer revenue-sharing formulas and capacity-building at the local level.
They further called for improved collaboration between federal and state authorities to ensure seamless implementation of the new tax regime and prevent jurisdictional conflicts.
Call for Continued Engagement
In his closing remarks, the Eko Club President expressed optimism that the discourse would deepen public understanding of the 2025 Tax Act and its broader implications for fiscal federalism in Nigeria.
He encouraged continued engagement among stakeholders to ensure that the reform achieves its intended objectives of boosting non-oil revenue, strengthening institutions and promoting inclusive economic growth.
The 2026 Eko Club Public Lecture, attended by professionals, students and business leaders, reaffirmed the Club’s commitment to providing a platform for robust dialogue on policies shaping Nigeria’s economic future.
No comments