Tax Reforms: FG Introduces N10 Million Challenge for Youths
By Hajara Abdullahi
The Federal Government has introduced a nationwide N10 million grand challenge titled the “Tax Reform Challenge” for graduates and undergraduates across Nigeria.
This was revealed in a post on the official X handle of the Chairman of the Presidential Committee on Fiscal Reforms and Tax Policy, Mr. Taiwo Oyedele, on Friday.
According to Mr. Oyedele, the competition aims to raise awareness, promote tax education, and inspire constructive youth-led dialogue on tax reform. It is open to both undergraduates in universities and graduates currently undergoing the mandatory one-year National Youth Service Corps (NYSC) scheme.
The post added that interested applicants are required to read and understand the new tax laws, then create and submit an article, video, podcast, social media post, or radio piece between 1st July and 31st December 2025.
Mr. Oyedele noted that submissions must be engaging, educative, and fact-based criteria that will guide the evaluation process while also welcoming critical and analytical entries.
The post concluded that under the award structure, the first position will receive N5 million, the second position ₦3 million, and the third position N2 million. Additional consolation prizes will be awarded to the top ten finalists from each geopolitical zone, including gadgets, internships, employment opportunities, and Tax Reform Youth Ambassador honors.
“For more information, visit fiscalreforms.ng.” the statement added.
President Bola Ahmed Tinubu signed four tax reform bills into law on 26th July 2025, which will take effect on 1st January 2026. Tinubu’s administration has been characterized by major economic reforms, including the removal of fuel subsidies, unification of exchange rates, and fiscal restructuring aimed at boosting revenue, increasing foreign reserves, and attracting investors. However, these measures have also contributed to rising inflation and a weakened naira, further deepening poverty among the already struggling Nigerian populace.
