Nigerian Tax Laws Not Conducive for Growth — Oyedele

Fiscal policy expert Taiwo Oyedele has criticized Nigeria’s tax laws, stating that they are not conducive to economic growth. He pointed out that the current tax system places an excessive burden on businesses and individuals, discouraging investment and slowing economic development.

Oyedele highlighted multiple taxation, complex compliance processes, and inconsistent policies as major obstacles preventing businesses from thriving. He noted that rather than promoting economic expansion, the existing tax structure stifles entrepreneurship and deters foreign investors.

 

To address these challenges, he urged the government to implement tax reforms that simplify processes, reduce multiple levies, and create a more business-friendly environment. He also emphasized the need for policies that balance revenue generation with economic stimulation, ensuring that taxes do not hinder growth.

With Nigeria facing economic difficulties, Oyedele believes that overhauling the tax system is critical to fostering a more productive and competitive economy. He called for collaboration between policymakers, businesses, and stakeholders to develop a tax framework that supports long-term economic sustainability.