Thomas Adewumi University hosted the January 2026 Edition of its KnowledgeX Series, with a focus on the theme “Nigeria Tax Reforms: Gains, Grey Areas and Compliance Realities.” The session, which marked the 24th edition of the KnowledgeX platform, featured Prof. Godwin E. Oyedokun, Professor of Accounting and Financial Development at Lead City University, Ibadan, as the guest speaker.
The programme was hosted by Dr. Samuel Farohunbi, Director of the Human Capacity Development and Coordinator of the TAU Career Centre, who welcomed participants to another impactful knowledge-sharing session. In his opening remarks, Dr. Farohunbi emphasized that the KnowledgeX Series remains a strategic platform designed to foster continuous learning, dialogue, and professional development among academic and non-academic staff. He noted that the January edition reflected the University’s commitment to engaging topical national and global issues that affect institutions and individuals alike.
Following the reading of the guest speaker’s citation, Prof. Oyedokun, who is also the Principal Partner of Oyedokun Godwin Emmanuel & Co. (Accountants, Tax Practitioners and Forensic Auditors) expressed appreciation to the University Management for the invitation. He described the session as a discussion-driven engagement, noting that Nigeria’s tax reforms are issues that resonate across sectors and require collective understanding and informed compliance.
In his presentation, Prof. Oyedokun provided a comprehensive overview of Nigeria’s 2025 Tax Reforms, explaining that the reforms represent a broad statutory overhaul aimed at unifying multiple legacy tax laws into a single framework. He highlighted that the Nigeria Tax Act 2025, which became effective on 1 January 2026, is designed to promote modernization, simplification, digital compliance, and an expanded tax base, while supporting economic growth and fairness.
The guest lecturer examined the structural architecture of the new tax regime, outlining its unified tax framework, administrative reforms, and governance mechanisms. He discussed the objectives of the reforms, including simplification and harmonization of tax laws, revenue expansion, fairness, economic growth, and enhanced social sector support. Key areas addressed included corporate tax reforms, personal income tax (PIT) reforms, value-added tax (VAT) and indirect taxes, as well as incentives such as Economic Development Incentives (EDI) and Research and Development (R&D) deductions aimed at encouraging innovation.
Prof. Oyedokun further explained the implications of the reforms for the education sector, highlighting zero-rated VAT on tuition and related services, input VAT recovery, operating cost reliefs, and compliance responsibilities for private universities. He also addressed funding structures, institutional finance debates, and administrative challenges, particularly the increased demands of mandatory e-invoicing, digital reporting, and payroll tax compliance.
While outlining the key gains of the reforms, such as progressive tax bands, clarified residency rules, maintained VAT at 7.5 percent, and expanded zero-rating, he also identified grey areas and implementation challenges, including ambiguities in law application and transitional compliance issues. He concluded by recommending early adaptation to digital tax systems, engagement with professional tax advisors, and constructive stakeholder participation to ensure smooth implementation, especially for small and medium-sized enterprises.
The session featured an interactive question-and-answer segment, allowing participants to gain further clarity on practical compliance realities. At the close of the event, the guest speaker was presented with a certificate of appreciation by the University Registrar, Mr. Kolawole Fisoye, in recognition of his insightful and impactful lecture.
In his closing remarks, Dr. Farohunbi appreciated Prof. Oyedokun for sharing his expertise and thanked all participants for their active engagement. He reiterated that the KnowledgeX Series remains a unique platform where academic and non-academic staff converge to learn, unlearn, and relearn together, reinforcing TAU’s culture of continuous intellectual growth and institutional excellence.
