The Minister of State for Finance, Prof. Taiwo Oyedele, has called on African countries to build strong capacity for digital tax administration and engage more strategically in global tax negotiations.
Oyedele stressed that the continent must position itself proactively within the evolving global digital economy, warning that Africa cannot afford to remain a passive participant.
The minister disclosed this at the 5th Session of the African Union STC Sub-Committee Meeting on Tax and Illicit Financial Flows, hosted by the Nigerian Revenue Service (NRS), Thursday in Abuja.
Prof. Oyedele emphasized the need for African countries to maximize ongoing work at the United Nations and other global platforms, urging them to embrace present opportunities that must not be wasted.
He added that coordination is no longer optional but necessary, as fragmentation is costing Africa significantly.
He said: “What is not working, and what must change? The real test begins now, after this conference, and that is diligent execution. We must implement, because without execution, tax reforms remain documents, policies remain intentions, and opportunities remain unrealized.
“With regard to tackling illicit financial flows, this remains one of the biggest threats to Africa’s fiscal sovereignty. What we have seen clearly is that it is not just a tax issue; it is also a governance and development issue.
“We must strengthen transparency systems, including beneficial ownership registers. We must enhance cross-border cooperation, use data more effectively, and ensure enforcement is credible and consistent.
“Every naira, every shilling, every rand, every dollar lost to illicit financial flows is a school not built, a hospital not equipped, and a job not created.”
