The Registrar and Chief Executive of the Institute of Chartered Accountants of Nigeria, Dr Adesola Okunola, on Thursday called for the integration of artificial intelligence into Nigeria’s tax administration system as part of efforts to boost revenue generation and improve efficiency.
Okunola made the call while delivering a keynote address at the maiden edition of the Isiaq Family Foundation Annual Accounting Lecture held at Summit University.
Speaking before an audience of academics, professionals and students, she described Nigeria’s current fiscal situation as a “revenue paradox,” noting that the country continues to face widening development needs despite limited public revenue.
According to her, Nigeria’s tax-to-GDP ratio remains significantly low, estimated at about 9.5 per cent when compared with other economies. She attributed this not to citizens’ unwillingness to pay taxes, but to systemic inefficiencies within the tax administration.
She stressed that addressing the gap would require a deliberate shift toward technology-driven solutions, particularly artificial intelligence, which she said is already transforming tax systems globally.
“Artificial intelligence can enhance tax administration through forecasting, fraud detection, automated auditing and real-time compliance monitoring,” she explained, noting that such tools would not only improve efficiency but also strengthen transparency in the system.
Okunola further emphasised that improving tax compliance goes beyond enforcement, pointing out that public trust remains a critical factor. She warned that compliance cannot be achieved in a system that lacks credibility among citizens.
“You cannot enforce compliance in a system that citizens do not believe in,” she said, adding that there is an urgent need to simplify tax processes and strengthen institutions to build confidence in the system.
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The ICAN registrar also highlighted the role of innovation in modernising the accounting profession, urging practitioners to embrace emerging technologies to remain relevant in a rapidly evolving global economy.
Participants at the lecture echoed similar sentiments, noting that digital transformation is no longer optional for Nigeria’s public finance system. They argued that adopting AI-driven solutions could help streamline operations, reduce leakages, and ultimately improve government revenue without increasing the tax burden on citizens.
The lecture marks part of a broader conversation on leveraging technology to address structural challenges in Nigeria’s economy, as stakeholders continue to explore ways to align the country’s fiscal systems with global best practices.
Senior AI Writer
Bio: Okikiola is a writer and AI enthusiast with a background in Office Technology and Management from the Federal Polytechnic Offa. She went further to study an MSc in International Business at De Montfort University (DMU). With extensive work experience across administrative and business roles, she now focuses on exploring how artificial intelligence can transform work, innovation, and everyday life.