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University of Ibadan on Data Planning and Tax Matters: Tax watch 6.0

Eriki Joan UgunushebyEriki Joan Ugunushe
June 7, 2024
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The Tax Club of the University of Ibadan, known for its prowess in tax matters, hosted its much-anticipated Tax Watch Program 6.0 on March 2, 2024. This time, the spotlight was on the fascinating theme, “Leveraging Data Analytics for Sustainable Tax Planning.” But before delving into the program’s highlights, let’s meet some of the key players behind this remarkable event.

Table of Contents

Toggle
  • Meet the President: Miss Orire Agbaje
  • Distinguished Guests
  • Delving into Data Analytics
  • Five Key Steps to Data Analytics
  • The Path to Sustainability
  • Words of Wisdom from the Grand Patron
  • Engaging Panels and Discussions
  • Tax Hack Competition
  • Final Thoughts
  • Join the Movement

Meet the President: Miss Orire Agbaje

At the helm of the Tax Club is Miss Orire Agbaje, a formidable force and a 400-level Economics student at the University of Ibadan. Her dedication to the field earned her a prestigious appointment by Nigeria’s President Tinubu in 2023, where she’s serving as a member of the Presidential Committee on Fiscal Policy and Tax Reforms at the Presidential Villa in Abuja.

 

Distinguished Guests

The program featured distinguished members of the Chartered Institute of Taxation in Nigeria, including Barr. Samuel O. Agbeluyi, Mni FCTI, the President of CITN, and Chief Akindele Oladeji, the esteemed Grand Patron. The esteemed speaker was none other than Prof. Muritala Awodun, PhD, a distinguished Professor and Director at the Centre for Enterprise and Human Capital Development, Ojala University, Kwara State, Nigeria.

 

Delving into Data Analytics

Prof. Muritala Awodun kickstarted the event with an enlightening discourse on data analytics, simplifying it as the “COT CDP” approach: Collection, Organization, Transformation, Conclusions, Decisions, and Predictions. He emphasized the pivotal role of taxation in shaping economies worldwide and how data analytics is a powerful tool in this arena.

 

But why is Data Analytics so crucial in taxation, you ask? Well, according to Professor Muritala, taxation is the government’s secret weapon for shaping a nation’s economic destiny, and Data Analytics is its trusty sidekick.

Five Key Steps to Data Analytics

The speaker outlined five crucial steps in the data analytics process: understanding tax problems, collecting tax data, cleansing the data, exploration, and interpretation of results. These steps are pivotal in crafting effective tax strategies and fostering sustainable development.

 

The Path to Sustainability

To achieve sustainability through data analytics, Prof. Awodun emphasized the importance of relevant tax laws, skilled professionals, efficient processes, advanced technology, and continuous training.

 

Words of Wisdom from the Grand Patron

Chief Akindele Oladeji graced the stage to impart invaluable advice to the eager students, Being a tax expert is as old as time itself,” he said, “and trust me, there’s no shortage of wealth in this field!”

 

Engaging Panels and Discussions

As the curtains drew to a close, a dream team of financial gurus took the stage to shed light on personal finance for young professionals. Their words were like gold nuggets, with Mrs. Morenike urging everyone to start planning for retirement early, no time like the present!

Tax Hack Competition

But the real showdown came during the Tax Hack segment, where universities battled it out on the topic of implementing VAT frameworks for digital services in the international arena. The presentations were electrifying, with the University of Lagos emerging triumphant.

Final Thoughts

As the program drew to a close, attendees left inspired and enlightened, thanks to the meticulous planning and execution by the Tax Club UI executives. The event underscored the endless opportunities and excitement within the tax industry, echoing Chief Akindele Oladeji’s sentiment: “You cannot be poor being a tax man.”

 

Join the Movement

In a world increasingly driven by data, the importance of data analytics in taxation cannot be overstated. Aspiring tax enthusiasts are encouraged to join tax clubs in universities across Nigeria and become catalysts for change in this dynamic field. After all, as the saying goes, “We cannot have data analytics where there’s an absence of data.”

Tags: federal characterUniversity of Ibadan on Data Planning and Tax Matters: Tax watch 6.0.
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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