Taiwo Oyedele has been appointed by President Bola Tinubu.
President Bola Tinubu has granted his approval for the establishment of a presidential committee focused on fiscal policy and tax reforms. Tinubu has appointed Taiwo Oyedele, an expert in fiscal policy and the leader of PwC’s Africa tax division, to head the committee.
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The committee’s formation was announced by Dele Alake, the Special Adviser to the President on Special Duties, Communications, and Strategy, through an official statement. It was revealed that the committee will consist of professionals from both the private and public sectors and will be responsible for various aspects of tax law reform, fiscal policy design and coordination, tax harmonization, and revenue administration.
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Taiwo Oyedele
The primary goal of the committee, as stated by Alake, is to improve the efficiency of revenue collection, ensure transparent reporting, and effectively utilize tax and other revenues to enhance citizens’ tax morale, cultivate a healthy tax culture, and encourage voluntary compliance.
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Zacchaeus Adedeji, the Special Adviser to the President on Revenue, highlighted President Tinubu’s understanding of the importance of a strong fiscal policy environment and an effective taxation system for the government and the economy.
Adedeji expressed concerns about Nigeria’s low global ranking in terms of ease of paying taxes and the country’s Tax to GDP ratio, which is below the global and African averages. This has led to excessive reliance on borrowing to fund public spending, resulting in limited fiscal space and inadequate funding for socio-economic development.
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Adedeji emphasized the committee’s aim to transform the tax system to support sustainable development and achieve a minimum Tax to GDP ratio of 18% within three years, without hindering investment or economic growth. He also emphasized that the committee will not only provide recommendations but also actively drive the implementation of these reforms in line with the comprehensive fiscal policy and tax reform agenda of the current administration.
