The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the Federal Government will not jeopardise Nigeria’s future by shielding individuals or organisations that have avoided paying taxes for years.
Oyedele made the statement at the January business breakfast of the Franco-Nigerian Chamber of Commerce and Industry in Lagos, where he addressed resistance to ongoing tax reforms and Nigeria’s weak revenue performance.
He said Nigeria’s tax collection remains far below its potential when compared with countries of similar size. Citing South Africa as an example, Oyedele noted that the country generated over N60 trillion from personal income tax in 2024 — more than Nigeria’s total tax revenue from all sources combined.
While acknowledging South Africa’s higher per capita income, he argued that Nigeria could significantly improve its personal income tax performance if reforms are properly implemented.
“If you take the top 60 million Nigerians by income, it will be comparable to South Africa’s per capita income,” he said.
