Tinubu names Taiwo Oyedele chairman of tax reforms committee

The presidency announced on Friday, July 7, 2023 that the committee will figure out a framework to implement the government's vision of a healthy and competitive business environment in Nigeria.

The committee will be responsible for the various aspects of tax law reform, fiscal policy design and coordination, harmonisation of taxes, and revenue administration.

Tinubu's special adviser on revenue, Adelabu Adedeji, said the president desires a sound fiscal policy environment as only an effective taxation system in a functioning economy can help a government make impact.

He noted that Nigeria's tax-to-GDP ratio is one of the lowest in the world and well below the African average. The presidential aide further noted that current key challenges include multiple taxes and revenue collection agencies, fragmented and complex tax system, low tax morale, high prevalence of tax evasion, high cost of revenue administration, lack of coordination between fiscal and economic policies, and poor accountability in the utilisation of tax revenue.

"While some incremental progress has been recorded over the years, the outcomes have not been transformative enough to change the narrative," he said.

Adedeji said the committee's work will help the government in its goal to achieve a minimum of 18% tax-to-GDP ratio within the next three years.

The members of the committee will be drawn from both the public and private sectors and chaired by Oyedele, an accomplished Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers (PwC).

Friday's appointment was announced less than a day after President Tinubu signed four executive orders focused on taxation policies in the country.