The Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has said that the bill when passed would exempt 97 per cent of the Nigerian informal sector, hinting, “we are quite optimistic that sooner rather than later, the bill will be passed.”
This is as economic experts in the country advised that the federal government must improve its deficit to gross domestic product (GDP) ratio and its daily oil production figures to three million barrels per day to meets its industrialisation ambition.
Oyedele who stated this at the Agusto&Co 2025 Economic Roundtable, held in Lagos, said that the informal sector must be allowed to thrive before they can be taxed.
According to him, “We just have to have a mindset shift that the money we are looking for is in the informal sector. It’s wrong and not supported by data.”
“There is no evidence to show that our revenue is in the informal sector.”
