The Federal Ministry of Finance has opened a fresh channel for Nigerians and businesses to influence the country’s fiscal laws, inviting the public to submit proposals for the Finance Bill 2027.
The ministry said the call is open to individuals, businesses, investors, professional bodies, civil society organisations, academics, government institutions and other stakeholders with ideas that could improve Nigeria’s fiscal system.
Unlike earlier consultations that largely focused on reviewing draft legislation, the 2027 exercise is asking stakeholders to suggest what should be included in the bill from the beginning.
In a notice issued on Thursday, the ministry asked contributors to submit practical and evidence-based proposals that could strengthen Nigeria’s fiscal framework, improve the business and investment climate, promote transparency and support long-term economic growth.
The ministry specifically wants stakeholders to point out laws or sections of existing legislation that need to be changed. Where possible, contributors are expected to provide proposed wording for the amendments.
It said general recommendations would also be accepted, but specific proposals identifying the affected law and provision would be more useful during the legislative drafting process.
The areas open for submissions are broad. They include tax policy, revenue generation, tax compliance, taxpayer services, tax incentives, customs and excise duties, as well as better coordination among revenue-collecting agencies.
Stakeholders can also make recommendations on budgeting, public spending, public financial management, debt management, fiscal sustainability and financial relations between the federal and state governments.
The ministry is equally seeking ideas on financial reporting, budget discipline, transparency, institutional oversight and accountability.
For investors and financial-sector operators, the consultation covers capital markets, cross-border investments, anti-money laundering rules, financial reporting and other regulations that have major economic or fiscal implications.
The ministry said it is particularly interested in proposals that can remove gaps, contradictions and unclear provisions in existing laws.
It also wants reforms that can reduce unnecessary regulatory burdens, improve ease of doing business, increase productivity and make Nigeria more attractive to investors.
Another priority is plugging revenue leakages and reducing abuse, regulatory arbitrage and overlapping responsibilities among institutions.
The public consultation comes after years of Finance Bills and Finance Acts that have significantly changed Nigeria’s tax landscape.
The 2019 Finance Act increased Value Added Tax from 5 per cent to 7.5 per cent and introduced a N25 million turnover threshold for small businesses. The 2020 Finance Act provided relief during the COVID-19 period, including a temporary reduction in minimum corporate tax.
Subsequent reforms introduced measures affecting digital businesses, sugar products, education tax, imports, cryptocurrencies and other digital assets.
These changes eventually contributed to the wider tax reforms introduced in 2025, which sought to simplify and consolidate Nigeria’s tax framework while lowering corporate income tax to 25 per cent and providing tax relief for lower-income earners.
The Finance Ministry’s 2027 approach therefore gives businesses and members of the public an opportunity to raise specific issues before the proposed legislation is finalised.
For companies struggling with taxes, regulatory costs or conflicting government requirements, the consultation could provide a direct avenue to recommend changes rather than waiting until a draft bill is released.
The success of the exercise, however, will depend on how many useful proposals are received and how effectively the government incorporates them into the final legislation.
For Nigerian businesses and taxpayers, the message is clear: the government is asking stakeholders not only to react to tax reforms, but to help shape the rules that could affect them in 2027 and beyond.
