By Muhammad Yankara
The Department of Accounting, Federal University Dutsin-Ma (FUDMA), has held its 2nd International Conference tagged: From Reform to Transformation: The Role of Accounting and Finance in Nigeria’s Tax, Exchange Rate and Public Finance Reforms.
The conference, which is the second since the establishment of the department, was attended physically and virtually by accountants and financial managers from within and outside the university.
Speaking at the occasion, the Head of Department, Dr. Isma’il Yusuf, said the conference was convened to provide a platform for academics and accounting professionals to engage in critical intellectual discourse, collaborate on actionable research and build institutional synergies across academia, industry and public policy.
According to him, Nigeria is navigating profound structural shifts across public finance management, monetary policy realignments, tax administration overhauls and foreign exchange regime reforms.
“While reforms are essential triggers, true economic transformation requires robust financial governance, transparent accounting systems, data-driven fiscal policies and rigorous academic inquiry,” he said.
Dr. Yusuf added that the conference will examine critical dynamics through diverse research papers, empirical studies and interactive panel sessions covering Fiscal Sustainability, Tax Compliance and Revenue Administration; Foreign Exchange Market Volatility, Monetary Policy and Corporate Performance; Public Sector Accounting, Governance, Accountability and Digital Transformation; and Sustainable Reporting, Corporate Finance and Emerging Financial Technologies.
He acknowledged the support of the University Management under the leadership of the Vice-Chancellor, Prof. Mohammed Khalid Othman, and urged participants to actively engage in discussions, challenge assumptions and offer practical, policy-relevant solutions for policymakers, business leaders and regulatory bodies.
In his keynote address, the former Executive Chairman of Kano and Kaduna States Internal Revenue Services, Dr. Zaid Abubakar, said Nigeria’s reforms are necessary but not sufficient, noting that the accounting profession converts reforms into results.
“Reforms since May 2023 were necessary and produced real fiscal gains, but they are not yet transformation,” he said.
“Reform changes rules; transformation changes outcomes that citizens can see. A reform that raises revenue without improving services or trust, changes the fiscal accounts without transforming the economy,” Dr. Abubakar stated.
He said audited statements and attestation now determine public revenue, while visible public value will determine durability, adding that interest and opacity weaken reform, and priorities should include reform dividend account, independent audit and timely reporting.
The keynote speaker disclosed that fiscal aggregates have improved sharply since 2023, but households are yet to feel the gains. He recalled that petrol subsidy was removed on 29th May, 2023, leading to real growth in gross federation revenues between 2023-2025; FX windows were unified on 14th June, 2023; four tax laws were signed on 26th June, 2025; and the Nigerian Tax Act came into force on 1st January, 2026.
Dr. Abubakar outlined five accounting and finance functions that convert reform inputs into transformation outcomes, namely: Financial Reporting, Tax Compliance and Administration, Public Financial Management, Audit and Assurance, and Research and Education.
“Citizens will sustain reform only if they see what their adjustment bought by reporting faithfully, attesting responsibly and accounting publicly for the reform dividend. Converting reform into transformation is, to a significant degree, an accounting and finance task,” he asserted.