In a bold move to enhance fiscal transparency and curb tax evasion, the Federal Government has inaugurated the National Electronic Invoicing Inter-Agency Steering Committee. This body will oversee the nationwide implementation of the Merchant Buyer Solution — a digital invoicing platform designed to revolutionize commercial transaction monitoring in Nigeria.
The initiative, led by the Federal Inland Revenue Service (FIRS), aims to ensure real-time tracking of business transactions, improve operational efficiency, and significantly increase revenue collection to support national development.
Speaking during the inauguration, Mr. Tayo Koleoso, Chief of Staff to the FIRS Executive Chairman and Chairman of the Steering Committee, described the project as a game-changer.
“This initiative is not just a technological upgrade; it is a transformative national project. It will enhance transparency, drive efficiency, and mobilize revenue crucial for our country’s growth,” he said.
The Merchant Buyer Solution is built on the internationally recognized Universal Business Language (UBL) framework. It enables businesses to digitally create, validate, and exchange invoices, aligning Nigeria’s tax infrastructure with global standards.
Lead Consultant to the project, Mr. Sadiq Arogundade, emphasized the importance of data integrity and traceability in the new system.
“We are aligning invoice creation and exchange with the Digital Public Infrastructure (DPI) framework—covering identity, data exchange, and payments. Identity is key—we now know where each invoice originates and where it’s headed, giving transactions a new level of credibility and oversight,” he explained.
The rollout of this system is expected to significantly bolster Nigeria’s fight against revenue leakages and provide a digital foundation for a more accountable and transparent economic system.
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