Taiwo Oyedele, the chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, has called for the expedited enactment of the tax reforms bill. This move is critical to achieving the federal government’s goals of simplifying Nigeria’s tax system, improving compliance, and boosting revenue generation.
Speaking during a recent policy forum, Oyedele emphasized the urgent need for legislative action to address inefficiencies in the country’s tax framework. According to him, delays in passing the reforms could undermine efforts to create a more transparent and business-friendly tax regime.
“The current tax structure is overly complex, fragmented, and burdensome for individuals and businesses alike,” Oyedele stated. “By fast-tracking the passage of this bill, we can establish a system that encourages compliance, reduces the tax burden on the poor, and fosters economic growth.”

The tax reforms bill, which emerged from extensive consultations with stakeholders, proposes significant changes aimed at streamlining tax administration. Key highlights include the consolidation of overlapping taxes, the removal of outdated levies, and the introduction of measures to tackle tax evasion and illicit financial flows.
Oyedele also underscored the importance of aligning the bill with global best practices. He noted that a simplified tax system would not only enhance revenue collection but also position Nigeria as an attractive destination for foreign investment.
Experts in the financial sector have lauded the proposed reforms, citing their potential to address longstanding challenges in Nigeria’s tax administration. However, they caution that swift passage must be accompanied by robust implementation strategies to ensure the intended outcomes are achieved.
The tax reform agenda is a key component of President Bola Tinubu’s economic blueprint, which prioritizes fiscal discipline and inclusive growth. The administration has repeatedly stated its commitment to overhauling Nigeria’s tax system as part of broader efforts to diversify the economy and reduce dependency on oil revenues.
While stakeholders await legislative approval, Oyedele called for continued dialogue and collaboration among policymakers, businesses, and civil society. He expressed optimism that the bill’s passage would mark a turning point in Nigeria’s fiscal landscape, paving the way for a more efficient and equitable tax system.
As discussions around the tax reforms bill intensify, all eyes are on the National Assembly to act swiftly and decisively. The enactment of these reforms is seen as a crucial step toward addressing fiscal challenges and unlocking the country’s economic potential.
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