Oyedele raises alarm on N6tn annual revenue and tax waivers

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The Chairman of the Presidential Committee on Tax and Fiscal Policy Reform, Taiwo Oyedele, expressed concern about the annual loss of N6 trillion in tax waivers, equivalent to the country’s revenue.

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Oyedele emphasized the need to evaluate the economic impact of these waivers, noting their substantial effect on a modest revenue base.

While acknowledging the importance of VAT exemptions on essentials, he advocated for strategic interventions to prevent societal unrest.

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Oyedele highlighted the committee’s scrutiny of existing incentives, aiming to design a targeted, data-driven regime with sunset provisions to avoid prolonged fiscal losses.

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