January 29, (THEWILL) — The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has revealed that opposition to Nigeria’s ongoing tax reforms is largely driven by individuals who have earned substantial incomes over the years without paying taxes.
Speaking at the January business breakfast of the Franco-Nigerian Chamber of Commerce and Industry in Lagos on Thursday, January 29, 2026, Oyedele highlighted a significant disparity between the tax performance of Nigeria and South Africa.
He disclosed that South Africa generated over N60 trillion from personal income tax alone in 2024.
This amount exceeds Nigeria’s total tax revenue from all sources combined, including petroleum profit tax, corporate income tax, value-added tax, and all taxes collected by federal, state, and local governments.
Oyedele noted that South Africa achieves this with a population of about 60 million people, while Nigeria has over 200 million people.
He argued that if the top 60 million earners in Nigeria were taxed effectively, the revenue should be comparable, yet Nigeria collected under N3 trillion in personal income tax.
According to Oyedele, the resistance to these reforms stems from those who have long avoided their fiscal responsibilities.
He alleged that critics are not disclosing their true motivations, which he identified as a desire to protect wealth accumulated without tax contributions.
He stressed that the committee is determined to create a system where no one is above the law and refused to compromise the future of the country for the interests of tax evaders.
Oyedele further clarified that the new tax laws, which officially commenced on January 1, 2026, are designed to be fair and transparent.
He noted that approximately 97 percent of Nigerians and small businesses would see a reduction in their tax burden or be exempted entirely.
He emphasized that the focus of the reform is to ensure that high-income earners and large corporations contribute their fair share to fund national development and improve public services.
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