Newly Appointed Chairman Vows to Lighten Tax Burden for Nigerians

By Mohammed Bello Doka. 

In an effort to alleviate the tax burden on Nigerian citizens and address frustrating laws that hinder operations, Taiwo Oyedele, the recently appointed chairman of the Presidential Committee on Fiscal Policy and Tax Reform, has pledged his commitment to making positive changes.

Oyedele, who was chosen by President Bola Tinubu to lead the committee, brings a wealth of experience to the role as the fiscal policy partner and Africa tax leader at PriceWaterhouseCoopers (PwC).

Speaking at an event organized by the Association of Chartered Certified Accountants (ACCA) to celebrate his appointment, Oyedele assured Nigerians that they would witness tangible initiatives aimed at providing relief in tax collection and utilization within the expected time frame.

"Our mandate consists of three key milestones. Firstly, within the first 30 days, we will focus on quick wins, actions, and decisions that do not necessitate amending existing laws. We will explore the possibility of removing VAT from diesel to reduce prices and consider increasing income tax exemptions, among other measures, to provide some breathing space for the people," Oyedele stated.

With a clear vision in mind, Oyedele emphasized the committee's commitment to reducing the burden on individuals, establishing a framework for accountability and transparency, as well as ensuring the judicious use of taxes for the achievement of Sustainable Development Goals (SDGs). These goals encompass areas such as eradicating hunger, providing access to clean water, promoting employment, and improving quality of life for all Nigerians.

As the newly appointed chairman, Oyedele's resolve to make a positive impact on taxation policies is expected to bring about much-needed relief for the Nigerian populace. With his extensive experience and dedication to fostering fiscal reform, Nigerians can look forward to a brighter future with reduced tax burdens and improved utilization of tax revenues.

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