OasisX's Posts
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liveLongNprospa:...can you dig out posts I made to supporting Buhari Administration between 2015 to 2023? Don't forget to post my criticism of his policies as well. On record, I supported Atiku/Obi Ticket in 2019 unlike DonJ. |
....to fix Nigeria ain't gonna be easy. We can't expect it to be magically fixed, we have got to go through reforms which the incumbent government is doing. If after a year, no positive effect, then we can begin to criticize the policies fairly and even protest against them. I understand people are going through difficulties at the moment, but I hope it won't be in vain. We seek a new Nigeria regardless of party affliations, and you and I know it ain't gonna be achieved cheaply. |
donjazzet: ![]() .....you're accusing me of propaganda and spreading lies and this is you doing same in the post. When was last time I posted updates on United thread like I used to do? Am I even that active on the thread again? LOL! |
....even Dólts are forming sha. Well, its understandable, but we will not stop getting you folks informed. LOL! |
Shaytun:....let's wait and see Resolutions of ECOWAS after tomorrow's meeting again. As Ajuri said on Al-Jazeera, Military Intervention is still on the table but not the priority for now. |
obainojazz:.....with the removal of subsidy on fuel and fx, that shouldn't be hard to fund by FG in the next 2yrs. The Project is a must, we need it to become reality in the southern part as soon as possible. It will even save our road from short lifespan, coz I trust our people to making use of rail cargoes instead of road. |
![]() 001 with their Mama.
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![]() Nigeria is on the right path, we are so close to land of prosperity.
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Composition of the Presidential Committee on Fiscal Policy & Tax Reforms 1.Taiwo Oyedele, Chairman 2.Representatives of Tax Practice, Law and Accounting Firms 3.Members of the Tax Advisory Committee 4.National Tax Policy Implementation Committee 5.Renowned Fiscal Policy and Tax Experts 6.Representative of the Chartered Institute of Taxation of Nigeria (CITN) 7.Representative of the Institute of Chartered Accountants of Nigeria (ICAN) 8.Representative of the Association of National Accountants of Nigeria (ANAN) 9.Representative of the Nigerian Bar Association (NBA) 10.Nigerian Economic Summit Group (NESG) 11.Organised Private Sector of Nigeria (OPSN) 12.Nigerian Association of Small and Medium Enterprises (NASME) 13.Women in Business (WIMBIZ) 14.Representative of the Federal Ministry of Justice 15.Representative of the Federal Ministry of Finance 16.Representative of Federal Ministry of Trade, Industry & Investment 17.Representative of Ministry of Telecommunications & Digital Economy 18.Nigerian Investment Promotion Commission (NIPC) 19.Tariff Technical Committee 20.Nigerian Ports Authority (NPA) 21.Nigerian Maritime Administration and Safety Agency (NIMASA) 22.Nigerian Upstream Petroleum Regulatory Commission (NUPRC) 23.The Federal Inland Revenue Service (FIRS) 24.The Joint Tax Board (JTB) 25.Nigeria Customs Service 26.Representative of Association of Local Government of Nigeria (ALGON) 27.National Institute for Legislative and Democratic Studies (NILDS) 28.National Institute for Policy and Strategic Studies (NIPSS) 29.Revenue Mobilisation Allocation and Fiscal Committee (RMAFC) 30.The Budget Office of the Federation 31.Accountant General of the Federation 32.National Bureau of Statistics 33.DG, Nigeria Governors’ Forum 34.Debt Management Office 35.Chairman, Finance Commissioners’ Forum 36.Central Bank of Nigeria 37.Students Tax Clubs 38.Partners & Observers – World Bank, IMF, United Nations, BudgIT, Tax Justice & Governance Platform |
Your Excellency, Commander-in-Chief, President Bola Ahmed Tinubu, GCFR; Your Excellency, the Vice President, Senator Kashim Shettima; Other senior Government Officials here present; distinguished dignitaries and invited guests, good afternoon. I am glad to witness this day, and I wish to express my gratitude to Mr. President for entrusting me along with other eminent Nigerians with the privilege of serving our nation in this capacity. I also want to acknowledge the invaluable support from all quarters of our society – the organized private sector, professional bodies, the media, international community, and the public since I was announced as the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. The task before us is substantial yet pivotal. Our fiscal policies could benefit from better crafting grounded in data and evidence, ensuring coherence and consistency. We need enhanced alignment with the modern economy and better coordination with monetary and other policies. Many of our existing laws are outdated hence they require comprehensive updates to achieve harmonisation and address multiplicity of taxes, remove the burden on the poor and vulnerable while addressing the concerns of all investors, big or small. Our tax administration has improved but remains relatively basic, with instances of unregulated collections by untrained officers, particularly at the Local Government level, being widespread. Our revenue generation falls below even African standards, yet our collection costs are among the highest. This is due not only to multiple taxes but also numerous collection agencies and fragmented revenue reporting procedures. Public willingness to pay taxes is strained because of a lack of trust in government, both among individuals and businesses, irrespective of size. The burden of tax falls heavily on those who comply, while those who evade often get away with little or no consequences. We need to change this. The process of resolving tax disputes is protracted and costly, with inadequate mechanisms for many small businesses and vulnerable individuals to seek fair tax resolution, as professional services are often beyond their means. Although these challenges may seem daunting, they also represent a unique opportunity for us to create a positive impact. We have the chance to revamp our tax policies for a more equitable system, modernize our laws to be adaptable and forward-looking, revitalize our revenue administration, enhance transparency in revenue reporting, and exercise prudence in our spending. These challenges further provide a platform for us to mobilize revenue without introducing new taxes, and we can respond swiftly to our most pressing needs including measures to ease the impact of rising prices (e.g. suspension of VAT on diesel), reduce pressure on the Naira (e.g. cease the payment of taxes and levies in foreign currencies), and amend the laws to encourage remote work opportunities and foster job growth in the digital economy, especially for our teeming youth. We must be committed to establishing a conducive policy environment to attract global businesses and position our nation as a hub for research and development, technology and innovation, headquarters location, financial and shared services center for the continent. Our approach will be comprehensive and long-term focused, addressing fiscal concerns related to Sustainable Development Goals and multi-dimensional poverty, ensuring responsible energy transition, and a coordinated strategy to elevate revenue reporting and quality of spending. Empirical data affirms that Nigerians are willing to fulfill their tax obligations when they see meaningful returns on their tax contributions. We must therefore be intentional in renewing the social contract and, more importantly, act in the best interest of our nation. The pathway to shaping the future begins with the choices we make today. I am grateful for the opportunity to participate in this journey and humbled by the chance to serve. And I believe that I speak also for every member of the committee. Collectively, Mr. President, we promise to do our best. With support from the people and God on our side, we know that we will succeed. Thank you for listening to me. May God bless the Federal Republic of Nigeria. - Taiwo Oyedele Chairman Presidential Committee on Fiscal Policy and Tax Reforms |
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![]() Leaders of tomorrow are forged today.
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![]() Taiwo Oyedele Team...... they are battle ready!!!
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STATE HOUSE PRESS RELEASE PRESIDENT TINUBU VOWS TO END NIGERIA’S OVERRELIANCE ON BORROWING FOR PUBLIC EXPENDITURE ... sets 18% Tax to GDP target in 3 years President Bola Tinubu on Tuesday in Abuja expressed his resolute commitment to break the vicious cycle of overreliance on borrowing for public spending, and the resulting burden of debt servicing it places on the management of Nigeria’s limited government revenues. Inaugurating the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Mr. Taiwo Oyedele, the President charged the committee to improve the country’s revenue profile and business environment as the Federal Government moves to achieve an 18% Tax-to-GDP ratio within three years. The President directed the Committee to achieve its one-year mandate, which is divided into three main areas: fiscal governance, tax reforms, and growth facilitation. He also directed all government ministries and departments to cooperate fully with the committee towards achieving their mandate. President Tinubu told the Committee members the significance of their assignment, as his administration carries the burden of expectations from citizens who want their government to make their lives better. ''We cannot blame the people for expecting much from us. To whom much is given, much is expected. ''It is even more so when we campaigned on a promise of a better country anchored on our Renewed Hope Agenda. I have committed myself to use every minute I spend in this office to work to improve the quality of life of our people,'' he declared. Acknowledging Nigeria's current international standing in the tax sector, the President said the nation is still facing challenges in areas such as ease of tax payment and its Tax-to-GDP ratio, which lags behind even Africa's Continental average. "Our aim is to transform the tax system to support sustainable development while achieving a minimum of 18% tax-to-GDP ratio within the next three years. ''Without revenue, government cannot provide adequate social services to the people it is entrusted to serve. ''The Committee, in the first instance, is expected to deliver a schedule of quick reforms that can be implemented within thirty days. Critical reform measures should be recommended within six months, and full implementation will take place within one calendar year," the President directed. Recounting the President's sterling track record on revenue transformation, the Special Adviser to the President on Revenue, Mr. Zacchaeus Adedeji described the committee members, drawn from the public and private sectors, as accomplished individuals from various sectors. ''Mr. President, you have the pedigree when it comes to revenue transformation. You demonstrated this when you were the Governor of Lagos State over 20 years ago," the Special Adviser said. Chairman of the Committee, Mr. Taiwo Oyedele pledged the total commitment of members to give their best in the interest of the nation. "Many of our existing laws are out-dated, hence they require comprehensive updates to achieve full harmonisation to address the multiplicity of taxes, and to remove the burden on the poor and vulnerable while addressing the concerns of all investors, big and small," he said. Ajuri Ngelale Special Adviser to the President (Media & Publicity) August 8, 2023 |
President Bola Tinubu appoints Miss Orire Agbaje, a 400 level Economics student of the University of Ibadan and President of the Nigerian Universities Tax Club, as a member of the Presidential Committee on Fiscal Policy and Tax Reforms that was inaugurated today.
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![]() President Tinubu is currently meeting with the DG of WTO, Ngozi Okonjo Iweala at the Presidential Villa. |
President Tinubu today inaugurated the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele. The Committee has a one-year mandate, divided into three main areas: —Fiscal governance —Tax reforms —Growth facilitation.
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![]() Fashola na your mate? This one don diactivate. LOL!
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![]() ....not just feeling it, but also seeing light at end of the tunnel already. Ride on President Bola Ahmed Tinubu. Nigerians will begin celebrating you, even before you finish 8yrs in power. |
![]() Baba even cc DSS and NCC......LOL!
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![]() Bosun and keyamo confirmed. |
![]() ....Ratification of Nominees ongoing at the Senate. |
![]() Keyamo cleared. |
izzou:😂😂😂 |
📌📌📌
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raumdeuter: ![]() Abacha was a Hero. |
GloriousGbola: ![]() ....so much attractive they're wailing, begging military to takeover power from PBAT. Main Reason they so much pick interest in Niger and other WA Nations presently under coupists is damn clear, but lets keep playing along. |
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![]() .....Intervention is about ECOWAS but sílly Obidients have made it about the President. LOL! |
izzou:....how on earth they don't see it this way keeps surprising me to be honest. 4 WA Nations are taking over by Coupists, yet Dudes here don't see it as a threat to us?! |
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