Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, briefed federal lawmakers on the importance of passing tax reform bills, emphasizing that the majority of Nigerians would benefit from the new tax administration system.
- The Presidential Fiscal Policy and Tax Reforms Committee was established by the President in August 2023 with three clear mandates, the first being fiscal governance, which involves analyzing the nation’s finances, revenue, spending, borrowing, and policy coordination across all levels of government.
- The second mandate focuses on revenue transformation, aiming to change the narrative for the country through improved taxation and maximizing profits from government assets and natural resources.
- The final mandate addresses economic growth and competitiveness, examining the challenges faced by businesses in Nigeria and seeking solutions for their struggles.