The Federal Government has commenced consultations ahead of the drafting of the Finance Bill 2027, inviting Nigerians and a broad range of stakeholders to submit proposals that could influence the country’s future fiscal policy.

The Federal Ministry of Finance announced the invitation in a notice published on its official X handle on Friday. Those invited to participate include members of the public, businesses, investors, professional bodies, civil society organisations, academia, public institutions and other stakeholders.

The ministry said submissions should concentrate on practical and evidence-based legislative or regulatory reforms that can strengthen Nigeria’s fiscal framework while improving the business and investment environment.

The consultation was announced under the title, “Call for Inputs into the Finance Bill 2027: Shaping Better Fiscal Laws for a More Productive and Competitive Nigeria.” According to the ministry, the exercise is intended to support sustainable economic growth and ensure that fiscal laws are responsive to Nigeria’s economic realities.

Stakeholder submissions are expected to offer perspectives on areas where reforms could raise productivity, improve competitiveness and create more favourable conditions for businesses and investors.

The consultation also provides an avenue for businesses and professional organisations to identify difficulties associated with existing fiscal policies and recommend adjustments that could simplify compliance, reduce unnecessary burdens and encourage investment.

For micro, small and medium-sized enterprises (MSMEs), which contribute significantly to employment creation and economic activity, changes in taxation and other fiscal regulations can directly affect operating costs, cash flow, investment decisions and plans for expansion.

The government’s invitation therefore allows business owners and representative organisations to present proposals based on the practical challenges they face under the existing fiscal framework.

Investors and larger companies can equally use the consultation to draw attention to fiscal or regulatory issues that could influence the attractiveness and competitiveness of Nigeria’s business environment.

The ministry’s focus on evidence-based submissions indicates that stakeholders are being encouraged to support their recommendations with practical solutions, relevant data, industry experience or other credible evidence rather than relying solely on broad proposals.

Such input could assist policymakers in assessing how proposed fiscal measures might affect different sectors of the economy as well as businesses operating at different scales.

The Finance Bill 2027 is expected to form part of the Federal Government’s ongoing efforts to review and strengthen Nigeria’s fiscal framework while balancing revenue mobilisation with economic growth, investment and business development.

Stakeholder engagement remains significant in the formulation of fiscal legislation because changes to tax and other fiscal policies can have broad implications for households, businesses, investors and government revenue.

By requesting contributions before the bill is drafted, the government is providing stakeholders with an opportunity to identify concerns and recommend reforms that could make fiscal policies more predictable, efficient and supportive of economic activity.

The ministry urged interested stakeholders to participate in the consultation and submit proposals capable of contributing to the development of better fiscal laws for Nigeria.

The consultation could influence some of the policy priorities and legislative proposals eventually considered for inclusion in the Finance Bill 2027. This makes the process particularly relevant to businesses and organisations whose operations are affected by fiscal and regulatory policies.

For businesses, the consultation creates an opportunity to move beyond simply responding to government fiscal measures and instead contribute ideas that could help shape future reforms.

The Federal Government said its broader objective is to develop fiscal laws capable of supporting a more productive and competitive Nigerian economy while fostering an environment that can sustain economic growth and attract investment.

Source: msme Africa online