Nigeria, March 11 -- Tax policy is one of the most powerful tools available to any government seeking to build a stable and prosperous economy. When designed thoughtfully and implemented effectively, tax reform does more than generate revenue. It shapes economic behaviour, strengthens institutions, and creates the conditions necessary for sustainable development.

For countries seeking long term growth and fiscal stability, comprehensive tax reform is not simply an administrative exercise. It is a strategic economic policy.

A major challenge facing many developing economies is the narrowness of government revenue sources. In resource dependent economies, public finance is often heavily tied to commodities such as oil or minerals.

While ...