By The Daily Torch Media
Pan-Atlantic University has held its 25th Inaugural Lecture, with Professor Olusegun Vincent examining Nigeria’s informal economy and the prospects of the country’s 2025 tax reforms.
The lecture, held at the Honeywell Group Auditorium of Lagos Business School on September 6, 2026, focused on the complex nature of Nigeria’s informal economy and the need for policies that promote sustainable revenue mobilisation while supporting enterprise development.
Speaking on the theme, “Deconstructing Nigeria’s Informal Economy: Tax Haven or Emerging Enterprise Ecosystem? Interrogating the Promise of the 2025 Tax Reforms,” Professor Vincent challenged the conventional perception of the informal sector as primarily a source of tax evasion.
He described the informal economy as a diverse ecosystem comprising survivalist businesses, micro and small enterprises, entrepreneurs, traders and, in some cases, sophisticated businesses that deliberately operate outside the formal economy.
According to him, policymakers need to understand the nature, drivers and dynamics of informality before developing effective policies for the sector.
Professor Vincent identified different forms of informality, including necessity-driven, structural and voluntary informality, stressing that each requires a different policy response.
He also cautioned against treating the informal economy and small and medium-sized enterprises (SMEs) as interchangeable concepts, arguing that such a misconception could result in inappropriate policy interventions.
The professor maintained that sustainable domestic revenue mobilisation requires more than simply expanding the tax base.
He said effective reform should encourage appropriate formalisation, support enterprise development, improve voluntary tax compliance and create mechanisms for integrating suitable informal businesses into the formal economy.
A major focus of the lecture was whether the 2025 Tax Reforms would approach Nigeria’s informal economy mainly as a source of untapped tax revenue or recognise it as an emerging enterprise ecosystem requiring support, engagement and development.
In her introduction of the guest lecturer, Pan-Atlantic University Vice-Chancellor, Professor Enase Okonedo, described Professor Vincent as a scholar whose career combines academic expertise with extensive professional and public-sector experience in accounting, taxation, finance, corporate governance and sustainability.
Professor Vincent is a Fellow of the Institute of Chartered Accountants of Nigeria and holds academic qualifications from the University of Derby, University of Ibadan, University of Greenwich and Brunel University London, where he obtained a PhD in Finance.
Before joining Pan-Atlantic University, he worked in professional practice and banking and served as head of the Economic Intelligence Unit in the Lagos State Ministry of Economic Planning and Budget.
He joined Pan-Atlantic University about a decade ago and has since risen to the rank of Professor. He has taught at undergraduate and postgraduate levels, published in academic journals, supervised doctoral students and served for seven years as Director of Academic Planning.
The university said the event was attended by principal officers, faculty members, students, alumni, industry leaders and members of the public.
The lecture further highlighted Pan-Atlantic University’s commitment to academic research and scholarship aimed at addressing major economic and social challenges confronting Nigeria.
