Support tax reform bills to build a better Nigeria – Oyedele urges Nigerians

The Chairman, Presidential Committee on Fiscal Policy and Tax reforms, Mr Taiwo Oyedele has called on Nigerians to support the tax reforms bills to build a better Nigeria.

Oyedele in a post on his X handle described the bills as the “People’s tax bills”.

The tax reform bills before the National Assembly include the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill.

Commenting on the benefits of the proposed tax reforms, Oyedele said, “the bills offer a comprehensive overhaul of the nation’s tax framework to drive economic growth, support Nigerian households, and position the country as a competitive economy within the comity of nations. These reforms reflect a commitment to equity, efficiency, and sustainable development.”

The Chairman noted that the tax reforms aim to alleviate the rising cost of living, foster economic equity, and create a business-friendly environment to attract local and foreign investments.

“All tiers and arms of government are committed to driving inclusive growth and ensuring that all Nigerians benefit from a prosperous economy.” He said.

He further noted that the bill upon passage will enhance business competitiveness.

“Businesses will benefit from input VAT credits on assets and services, eliminating the minimum tax on loss-making and low-margin companies. This will lower production costs and stimulate investment.” He explained.