President Bola Tinubu has today, Friday, named Taiwo Oyedele as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.

The president, in keeping with his vow to remove all hurdles to corporate growth in Nigeria, established the Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers (PwC).

The Committee will be responsible for various aspects of tax law reform, fiscal policy design and coordination, tax harmonisation, and revenue administration, according to a statement signed by the Special Adviser to the President (Special Duties, Communications, and Strategy), Dele Alake.

“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,” the statement said.

”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 statement concluded.