The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said that the current tax laws in Nigeria are unconducive for growth.
Oyedele said this on Thursday at the inaugural Economic Roundtable/2025 macroeconomic outlook event of rating firm Agusto & Co., held in Lagos.
After months, the House of Representatives on Wednesday passed the four tax reform bills for a second reading and referred them to the Finance Committee of the House for further legislative work, including a public hearing.
Speaking at the event where he was a keynote speaker, Oyedele said, “We found that Nigeria’s tax system is unconducive for growth. We are trying to grow, but we’re struggling, and the tax system is holding us down. It has plenty of taxes and taxing agencies everywhere you turn.
“It doesn’t matter whether you’re small or big, whether you are formal or informal; we tax anything and everything that moves. If it keeps moving, we tax it even again.”
