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Just IN : Tinubu Approves Taiwo Oyedele as Chairman of Fiscal Policy and Tax Reforms Committee
President Bola Tinubu has approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms.
The committee according to a statement issued by Dele Alake, Special Adviser to the President on Special Duties, Communications and Strategy on Friday will be chaired by Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers (PwC), Mr. Taiwo Oyedele.
The statement said that setting up the committee was in consonance with President Tinubu’s promise to remove all barriers impeding business growth in Nigeria.
It explained that the committee will comprise experts from both the private and public sectors and have responsibility for the various aspects of tax law reform, fiscal policy design and coordination, harmonization of taxes, and revenue administration.
Explaining further, the Special Adviser to the President on Revenue, Mr. Adelabu Zacch Adedeji, said that President Tinubu recognizes the importance of a sound fiscal policy environment and an effective taxation system for the functioning of the government and the economy.
He said, ”Nigeria ranks very low on the global ease of paying taxes while the country’s Tax to GDP ratio is one of the lowest in the world and well below the African average.
”This has led to an overreliance on borrowing to finance public spending which in turn limits the fiscal space as debt service costs consume a greater portion of government revenue, annually resulting in a vicious cycle of inadequate funding for socio-economic development.
”While some incremental progress has been recorded over the years, the outcomes have not been transformative enough to change the narrative,” he said.
Adedeji outlined the key challenges in Nigeria’s tax system to 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 utilization of tax revenue.
The establishment of this committee reflects President Tinubu’s commitment to addressing these challenges and bringing about transformative reforms in fiscal policy and taxation.
The committee’s primary objective is to enhance revenue collection efficiency, ensure transparent reporting, and promote the effective utilization of tax and other revenues to boost citizens’ tax morale, foster a healthy tax culture, and drive voluntary compliance.
These efforts will not only improve Nigeria’s revenue profile but also create a more conducive and internationally-competitive business environment.
”Our aim is to transform the tax system to support sustainable development and achieve a minimum of 18% Tax to GDP ratio within the next 3 years without stifling investment or economic growth.
”It should be noted that this committee will not only advise the government on necessary reforms, but will also drive the implementation of such recommendations in support of the comprehensive fiscal policy and tax reform agenda of the current administration,” the SA on Revenue added.
Mr. Oyedele is said to be a highly accomplished professional with extensive expertise in fiscal policy, taxation, and economic matters. He currently serves as PWC Africa tax leader.
He is the Thematic Lead for the Fiscal Policy & Planning Commission and serves as the Chairman of the West Africa Debt Management Roundtable of the Nigerian Economic Summit Group (NESG).
He chairs the Taxation & Fiscal Policy Faculty Board of the Institute of Chartered Accountants of Nigeria (ICAN) and is a member of the Nigerian Taxation Standards Board.
He also serves as a member of the Ministerial Committee on the implementation of Nigeria’s National Tax Policy.
He is a member of the Global Tax Forum and has previously served as a member of the Global Governing Council of the Association of Chartered Certified Accountants (ACCA).
As an educator, Oyedele holds the position of Associate Professor at the Babcock University Business School.
He is an alumnus of the London School of Economics & Political Science, Yale University and Harvard Kennedy School Executive Education. He is a guest lecturer at the Lagos Business School and the Founder and President of Impact Africa Foundation.
By Cynthia Alo To prevent collapse of the manufacturing sector, job losses and more suffering for Nigerians at the bottom of the economy ladder, world’s leading management and financial consultancy, PricewaterhouseCoopers, PwC, has called on the Federal Government to improve the tough operating environment in the country before imposing the proposed…
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Tinubu’s $2.99bn Rail Push Sparks Calls for Nationwide Network Expansion
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By Sotayo Olayinka
The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects, signalling a renewed commitment by the administration of Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.
While this initiative is widely commendable, there is a growing call for the Federal Government to extend similar support to the Nigerian Railway Corporation (NRC). Strengthening the corporation would significantly improve inter-state transportation, ease the pressure on road networks caused by overloaded trucks, and enhance logistics efficiency nationwide.
Nigeria has already recorded progress with the Lagos–Ibadan rail corridor. However, greater impact can be achieved if the government connects Lagos to Abuja, complementing the existing Kaduna–Katsina line. Such integration would go a long way in addressing the country’s persistent transportation challenges. There is also increasing public demand for the expansion of rail services to the northern and eastern regions, which would create a more unified and dependable national transport system.
Many Nigerians still recall the 1960s, when train services operated seamlessly from Lagos to Kaduna and even Sokoto—an era that underscored the immense potential of an efficient rail network.
Expanding the railway system aligns with the administration’s Renewed Hope Agenda and would deliver tangible results in infrastructure development. There is also a widely held view that the current leadership of the NRC, under Managing Director Kayode Opeifa, is making meaningful progress in revitalizing rail services.
Sustained government backing will be critical to consolidating these gains and building a modern, efficient, and nationally connected railway system capable of driving economic growth and easing transportation challenges across Nigeria.
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Hon. Marcus Adedini Joins 2027 Ife Federal Constituency Race, Promises People-Centered Leadership
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……Engr. Adedini Declares for 2027 Reps Race, Picks Nomination Forms
Engr. Marcus Adedini has officially declared his intention to contest the House of Representatives seat for Ife Federal Constituency in the 2027 general elections, following the purchase of his nomination and expression of interest forms.
His declaration marks his formal entry into the race and reflects what he described as a long-standing commitment to public service, grassroots development, and policy-driven leadership across Ife land.
A development advocate and grassroots mobiliser, Adedini brings years of community engagement and policy experience to his ambition. Through his initiative, he has spearheaded several community-based interventions spanning education, healthcare, youth empowerment, and social welfare.
In the education sector, his programmes have supported students with scholarships, learning materials, and infrastructure development. In healthcare, he has facilitated medical outreach initiatives aimed at improving access to services and raising community health awareness.
Adedini has also implemented youth empowerment schemes, equipping young people with vocational skills, startup support, and capacity-building opportunities to promote entrepreneurship and reduce unemployment. His efforts extend to women and vulnerable groups through targeted empowerment programmes designed to improve livelihoods.
Beyond grassroots initiatives, Adedini has gained legislative exposure, contributing to the drafting of bills and motions in key sectors, including education, healthcare, and social development. Supporters say his experience in budgeting and project facilitation positions him to attract federal projects to the constituency.
Calling for support, Adedini urged residents of Ife Federal Constituency to rally behind what he described as a shared vision of inclusive growth and sustainable development.
He pledged to run a people-focused and issue-based campaign, promising effective representation and impactful service if elected.
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FEC Backs $2.99bn Rail Projects, Sets Stage for Power Sector Shake-Up
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… Lagos Green Line, Kano, Kaduna rail schemes to boost connectivity
… Tinubu to chair power sector task force as reforms gather pace
The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects and the establishment of a Presidential Task Force on Power Sector Reform, in a move signalling a renewed push by the administration of President Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.
Briefing State House correspondents after the Council meeting, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the rail projects span key urban corridors and are designed to enhance mobility, reduce congestion, and stimulate regional commerce.
He listed the projects as the Lagos Green Line Rail, the Kano State Metro Rail, and the Kaduna State Rail project, noting that they have already been captured in the extended 2025 budget.
“The Federal Executive Council approved three transformative rail projects – Lagos Green Line, Kano State Metro Rail, and Kaduna State Rail project. These projects are to be sponsored by the Ministry of Finance Incorporated,” Oyedele said.
He explained that the approvals align with the administration’s broader infrastructure strategy, which prioritises rail transport as a cost-effective and sustainable alternative to road networks.
The Lagos Green Line is expected to complement existing mass transit systems in the commercial hub, while the Kano and Kaduna rail schemes are projected to boost passenger and freight movement across northern Nigeria, improving trade and economic activity.
In a related development, the Minister of Information and National Orientation, Mohammed Idris, announced the creation of a Presidential Task Force on Power Sector Reform, alongside key appointments aimed at strengthening governance in the electricity industry.
Idris said the Council approved the appointment of former Minister of Power, Lanre Babalola, as Special Adviser on Power to the President, to enhance coordination and policy oversight.
He disclosed that the President would chair the task force, with Babalola playing a central role in driving its activities.
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“The task force is part of renewed efforts by the administration to reposition the power sector as a critical driver of industrialisation and economic growth,” Idris said.
According to him, the decision followed the submission of a report by a presidential committee set up on March 4 to review the commercial and institutional framework for the proposed Grid Asset Management Company (GAMCO).
He noted that the task force brings together key stakeholders, including the Ministers of Finance, Power, Industry, Trade and Investment, Information, and the Attorney-General of the Federation, alongside regulators and representatives of electricity generation and distribution companies.
Idris said the body would focus on implementing far-reaching reforms to address structural bottlenecks in the sector, stressing that stable electricity supply remains central to Nigeria’s economic transformation.
He added that the government is committed to a comprehensive overhaul of the power sector to unlock industrial productivity and improve living standards.
The minister further disclosed that the FEC meeting was preceded by the swearing-in of a National Commissioner of the Independent National Electoral Commission (INEC) and four Permanent Secretaries.
He said President Tinubu administered the oath of office on retired Rear Admiral K. M. Marafa as INEC National Commissioner following her confirmation by the National Assembly.
Idris added that the Council deliberated on a 32-point agenda, reflecting what he described as the administration’s broad reform focus across critical sectors of the economy.
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