Taiwo Oyedele, chairman of the presidential fiscal policy and tax reforms committee, has emphatically stated that the federal government will not jeopardize Nigeria’s future by protecting individuals who have profited for years without fulfilling their tax obligations. Speaking at the January business breakfast of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI) in Lagos, Oyedele addressed the significant resistance encountered by ongoing tax reforms and highlighted the nation’s persistently weak revenue performance.

Drawing a stark comparison, Oyedele noted that South Africa generated over N60 trillion (naira equivalent) solely from personal income tax in 2024. He underscored that this figure surpasses Nigeria’s total tax revenue from all sources combined, including petroleum profit tax, corporate income tax, value-added tax (VAT), and taxes collected by federal, state, and local governments. He pointed out the demographic disparity, stating, “That is one tax from about 60 million people, compared to Nigeria’s 240 million people.”

While acknowledging South Africa’s higher per capita income, Oyedele firmly argued that Nigeria possesses the inherent capacity to substantially boost its personal income tax collection. He proposed that if one considers the top 60 million income earners in Nigeria, their per capita income would be comparable to that of South Africa. He posed a critical question: “Let’s say we can’t collect 60 trillion, why not 30? Guess how much we collected? It was under N3 trillion. Something is wrong, the math is not adding up.”

Oyedele attributed this profound disparity to the intense pushback against the tax reforms from certain factions. He asserted that those opposing the reforms are not transparent about their motivations, which he believes stem from years of profiting without paying taxes. He declared, “We are designing a system that says nobody will be above the law anymore. You will fight it because it is hard to pay tax anywhere in the world, we understand that but we will not compromise the future of the country because what is at stake is much bigger than any of us.”

President Tinubu signed four tax reform bills into law on June 26, 2025. Despite various calls to halt their implementation, these new tax laws commenced as scheduled on January 1, signaling the government's unwavering commitment to overhauling Nigeria's fiscal landscape.