Why credit matters for private-sector growth and tax base expansion

Vanguardngr | 08-01-2026 12:32pm |

By KINGSLEY IKEH Nigeria’s tax reform agenda is colliding with weak household demand and constrained credit markets. Without affordable consumer and MSME lending, fiscal reforms risk slowing private-sector growth and narrowing the tax base. Nigeria’s renewed tax reform drive is unfolding in a credit-starved economy characterised by high inflation, weakened household purchasing power, and declining credit

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