President Bola Tinubu has received the report on Fiscal Policy and Tax reforms.
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, made this announcement in Abuja. The committee has completed the first part of its presidential mandate and will now move on to the second phase, focusing on significant fiscal reforms.
These reforms will involve legislative and constitutional changes aimed at reducing the numerous official and unofficial taxes collected from Nigerians in various federating units to less than 10.
Additionally, President Tinubu has directed the Special Adviser to the President on Policy Coordination, Hadiza Bala Usman, to work with the Secretary to the Government of the Federation, George Akume, and the Chairman of the Tax Policy Review Committee to swiftly implement the committee’s recommendations across all federal government ministries, departments, and agencies.
This coordination aims to ensure uniformity in how tax policies are carried out, with an emphasis on not overburdening vulnerable segments of society.
President Bola Tinubu inaugurated the Presidential Committee on Fiscal Policy and Tax Reforms on August 8 and mandated the committee to “achieve its mandate within one year. They are, in the first instance, expected to deliver a schedule of quick reforms which can be implemented within thirty days. Critical reform measures should be recommended within six months and full implementation will take place within one calendar year.”
