I Receive Death Threats From Unknown Persons – Oyedele

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has revealed that he has received multiple death threats from unknown persons over the fiscal reform policies he is championing.

Oyedele disclosed this while speaking at the ongoing 31st Nigerian Economic Summit (#NES31) in Abuja.

Despite the threats, he said he remains undeterred and fully committed to implementing the reforms, stressing that they are in the best interest of Nigerians.

“Reform is tough. I have suffered all kinds of things, including death threats. But I am not scared. I recently celebrated my 50th birthday. Even if anything happens, I have done my bit,” he said.

“The reforms belong to Nigerians. The reforms don’t belong to Mr. President.”

Oyedele underscored the need for Nigerians, especially wealthy individuals and corporate organisations, to pay their taxes responsibly in order to avoid economic instability.

“If we don’t pay our taxes in an orderly manner, we’ll pay it in a disorderly manner. We’ve seen that in the past few years with over ₦30 trillion printed, which is part of the inflation we’re dealing with and the devaluation of the naira. We don’t want that to happen. We’ve seen countries like Zimbabwe where prices double every other day,” he warned.

He highlighted key provisions in the new tax laws, including the exemption of poor Nigerians — about 98 percent of the population — from personal income tax, while high-net-worth individuals will pay more to promote equity and fairness.

Similarly, companies with low income will be exempted from tax payments to strengthen their operations and support economic growth.

Addressing concerns that state and local governments may not fully support the reforms and could continue to harass poor traders, Oyedele explained that members of the Joint Tax Board (JTB) were part of the reform committee and were aligned with its objectives.

He added that Implementation Guidelines and Explanatory Notes were being prepared by relevant institutions, including the Federal Ministry of Finance, IFRS, and JTB, to ensure smooth execution.

Oyedele revealed that all the states collectively generated ₦3.36 trillion in taxes last year and expressed confidence that states would earn more from the Federation Account under the new regime, without burdening vulnerable groups.

“If that ₦3.36 trillion is not generated in 2026, the states will not do worse. We are convinced that no state will be bankrupt. We can’t do better by taxing our most vulnerable,” he stated.

He further disclosed that there are plans to issue tax-exempt stickers to nano businesses to protect them from harassment by state and local government officials.

Oyedele criticised some of the existing tax provisions in the constitution as retrogressive, questioning, for instance, the imposition of “Wheelbarrow Tax.”

To address this, he said 10 amendment proposals have been sent to the National Assembly to update relevant constitutional sections in line with the new tax reforms.

He also assured that his team is working on mechanisms to enhance transparency and accountability in government expenditure, ensuring that Nigerians receive tangible benefits from their tax contributions.

“We are working seriously on fiscal regimes,” he added, noting that details would be kept confidential to avoid jeopardising ongoing processes.