Taiwo Oyedele, Chairman of the Presidential Tax and Fiscal Policy Reform, disclosed plans to train area boys as tax officers, offering them decent salaries to redirect their focus.
Oyedele also discussed ongoing efforts to alleviate the burden of multiple taxes at the state and local government levels.
Acknowledging the shared impatience of many Nigerians, Oyedele emphasized the gradual nature of fiscal policy changes. He highlighted the submission of a comprehensive report with over 20 recommendations in October, lamenting that only a few have been fully implemented.
The key instrument for implementing recommendations is the Emergency Economic Intervention Bill, addressing critical amendments to various laws.
Oyedele assured that the bill would be presented to the National Assembly soon, targeting positive impacts by the end of the first quarter of the year.
Despite the complexity of the execution process, Oyedele outlined steps involving internal reviews, presentation to the Federal Executive Council, and subsequent submission to the National Assembly.
While hesitant to provide a specific timeline, he expressed optimism about receiving approval within one to two weeks at the National Assembly.
Addressing the urgency, Oyedele revealed proactive measures already underway, including discussions with governors to suspend nuisance taxes causing problems with minimal revenue.
He emphasized the importance of immediate relief for small businesses and citizens most affected by these taxes.
Acknowledging the challenges posed by numerous taxes, Oyedele stressed the need to streamline the system. He highlighted ongoing engagements with governors and a top-down approach to ensure swift and effective implementation.
Responding to concerns about the benefits reaching state governments, Oyedele emphasized the wastage in the current system, citing statistics that showed local governments collecting less than 50 billion naira cumulatively in 2022.
He proposed a simplified tax structure at the local government level to enhance revenue collection and reduce the burden on citizens.
Anticipating resistance to changes, Oyedele discussed plans to incentivize states by finding alternative sources of revenue, potentially compensating them for suspending certain taxes.
He also floated the idea of involving stakeholders, including training area boys as tax officers, aligning all parties for the collective benefit of the nation.
In response to questions about constitutional amendments, Oyedele acknowledged the lengthy process but emphasized a practical approach.
He suggested suspending certain taxes immediately, even before legal changes, while working on an MoU with states to ensure swift implementation and tangible results for citizens.
