The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has stressed the critical role of sound tax policies in supporting legitimate economic activities and driving Nigeria’s development. Oyedele made these remarks while addressing stakeholders during a high-level forum on fiscal reforms and economic sustainability.
According to Oyedele, taxation should be seen as part of a social and economic contract between citizens and the government.
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“Tax is a socio-economic contract which holds that taxes are the consequences of economic activities. Therefore, government policies, including taxation, must not distort legitimate economic activities,” he stated.
Oyedele further noted that the process of creating sound policies must go beyond popularity or public sentiment.
“Popular views do not always lead to sound policies. Imagine if we have everyone at the table because we want to be inclusive, but we lack credible data — we’re not defining policy, we’re simply holding a gathering,” he said.
He emphasized the importance of credible data in ensuring that tax reforms and government policies achieve their intended objectives without harming productive sectors of the economy.
The event, attended by policymakers, business leaders, and academics, provided a platform to discuss Nigeria’s fiscal future and strategies for strengthening the country’s tax system while fostering economic growth.
