Dr. Iyabo Masha, Director of the Intergovernmental Group of Twenty‑Four on International Monetary Affairs and Development (G‑24), has said ongoing tax reforms in Nigeria will help modernise and boost the country’s economy, the group said on Saturday.
Masha spoke at a press conference in Abuja ahead of the G‑24 2026 Technical Group Meeting, scheduled for February 18–20, 2026.
The meeting’s theme is “Mobilising Finance to Promote Sustainable, Inclusive, and Job‑Rich Economic Transformation”. Nigeria is the chair country for the event, the publication said.
Masha said tax and domestic resource mobilisation remain central to economic development and that Nigeria’s reform drive could deepen formalisation of the economy and strengthen public finances over time.
She said that developing countries often have relatively low tax‑to‑GDP ratios, and increasing mobilisation is important for funding infrastructure, education, healthcare and other public services. )
She said her review of Nigeria’s tax framework showed it was “very fragmented”, with inadequate implementation contributing to low revenue mobilisation.
She said the new tax policy seeks to address such issues by bringing more companies into the tax net, adjusting some tax rates and incentivising efficient production.
Masha said that while reforms may be painful initially, they are expected to transition Nigeria into a modern economy that better meets the aspirations of its people. She also noted that reforms could encourage more firms to formalise operations and potentially expand employment.
The G‑24, which comprises developing and emerging economies across Africa, Asia, Latin America and the Caribbean, holds its Technical Group Meeting ahead of ministerial‑level discussions.
The event allows members to align positions on issues such as tax reforms, financial inclusion and monetary stability.
Masha said that the meeting’s programme will feature panels on tax issues, including domestic resource mobilisation, digital services taxation and how countries can better tax global technology firms operating without a physical presence in markets where they generate revenue
