A former director-general of the Budget Office of the Federation, Dr Ben Akabueze, said the ongoing economic reforms are important for achieving long-term stability He stated this during the announcement of the 2026 Economic Outlook Summit of the Redeemed Christian Church of God (RCCG) Lagos Province 35.

The summit, scheduled for January 24, focuses on navigating Nigeria’s ongoing tax reforms and emerging investment opportunities.At the media briefing held at RCCG Christ Church, Gbagada, Akabueze, who is also the Pastor in Charge of the church, said Nigeria was currently undergoing one of the most significant reform cycles in its history, covering taxation, fiscal policy, exchange rate management and market liberalisation.

“The reforms are essential for long-term economic stability. Over the past year, inflation has declined significantly, reflecting the early impact of policy adjustments and tighter monetary conditions,” he said.

The former budget chief, however, acknowledged that despite macroeconomic improvements, cost pressures remain elevated for many households and businesses, particularly in energy, logistics and financing.

Tax reforms will be the central theme of the summit, with Akabueze highlighting Nigeria’s persistently low tax-to-GDP ratio, which remains below 10 per cent compared to an African average of approximately 16 per cent, as a challenge.

“This gap has driven the government’s push to expand the tax base, strengthen enforcement, and improve efficiency in tax administration,” he explained. He said the summit is designed to empower church members and the wider society with knowledge and tools to navigate Nigeria’s evolving economic landscape.

The summit is expected to examine implications of recent and ongoing tax reforms, including their effects on personal income, business profitability, investment returns, cash flow management and estate planning.

Participants will gain clarity on compliance expectations, enforcement trends, and reporting obligations, while learning tax optimisation strategies to lawfully structure income, investments and business operations.

Akabueze emphasised that the focus would be on tax avoidance rather than tax evasion, stressing that “proactive planning rather than reactive responses” is what is required.

The summit will feature the Minister of State for Industry, Trade and Investment, John Enoh, as the keynote speaker, who will address the current administration’s economic reforms and investment opportunities.