Summit University Offa has called for the adoption of Artificial Intelligence in Nigeria’s tax administration system to improve revenue generation and modernise accounting practices.

The institution made the call during the maiden edition of the Isiaq Family Foundation Annual Accounting Lecture held in Kwara State, where stakeholders discussed Nigeria’s tax reform agenda and its impact on national development.

Speaking at the event, a representative of the Institute of Chartered Accountants of Nigeria highlighted Nigeria’s low tax-to-GDP ratio, estimated at about 9.5 percent, describing it as a reflection of systemic inefficiencies rather than unwillingness to comply.

He stressed the need for trust-building, simplified tax processes, and stronger institutions to improve compliance and efficiency in the system.

He also noted that AI is already transforming tax administration globally through fraud detection, automated auditing, forecasting, and real-time compliance monitoring.

According to him, Nigeria stands to benefit significantly from these innovations, but he warned that proper regulatory frameworks must be in place to address issues such as data privacy, cybersecurity risks, and algorithmic bias.

The event also examined the proposed 2025 Tax Reform Agenda, which includes tax consolidation and a unified framework aimed at reducing compliance burdens.

The President of the Isiaq Family Foundation, Alhaji Kolawole Balogun, reaffirmed the foundation’s commitment to supporting accounting education and professional development.

University officials said the initiative would help prepare students for a digitally driven global economy, particularly in areas of tax innovation and digital transformation.