Chairman of the presidential fiscal policy and tax reforms committee, Taiwo Oyedele, stated that the federal government will not sacrifice Nigeria’s future to protect those who have avoided taxes for years.
Speaking at the January business breakfast of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI) in Lagos, he addressed the resistance to tax reforms and the country’s inadequate revenue performance.
“That is one tax from about 60 million people, compared to Nigeria’s 240 million people,” Oyedele said. He highlighted that South Africa generated over N60 trillion from personal income tax alone in 2024, surpassing Nigeria’s total tax revenue from all sources combined.
While noting that South Africa’s per capita income is higher, Oyedele emphasised that Nigeria has the potential to significantly improve its personal income tax collection.
“If you take the top 60 million people in Nigeria based on income, it will be comparable to the per capita income of South Africa,” the committee chairman said.
