The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has dismissed allegations that state governors were sidelined in the ongoing tax reform consultations. According to him, the committee reached out to the governors on four separate occasions, but each scheduled meeting was canceled by them.
Oyedele made this known during a presentation at the 2nd Spokespersons Summit organized by the Nigerian Institute of Public Relations in Abuja. He explained that the committee is working on a new national borrowing framework aimed at putting an end to the pattern of reckless borrowing that continues to mortgage Nigeria’s future.
He emphasized that the goal is to create a system where both the federal and state governments only borrow for investments that will secure long-term benefits. Oyedele stressed that borrowed funds must be channeled into critical infrastructure such as roads, schools and hospitals, not wasted on consumption. He cited Singapore as an example, noting that despite its high debt levels, the country ensures that every dollar borrowed yields even greater value in returns.
The proposed framework, he said, will act as a guide for Nigeria, helping leaders make responsible financial decisions and ensuring that every borrowed dollar is used to build a better future. He pointed out that the idea is not to stop borrowing altogether, but to make sure each loan directly contributes to national development and future prosperity.
Responding to the public outcry over certain parts of the tax reform bills currently before the National Assembly, Oyedele said all concerns are being carefully addressed through ongoing consultations. He acknowledged the anxiety expressed by women and other vulnerable groups, particularly small business owners who often face multiple layers of unofficial taxation and harassment from both government and non-government actors.
He admitted the system has over time become unfairly tilted against women, but reassured Nigerians that the reforms are intentionally structured to protect the interests of vulnerable groups. According to him, the new tax proposals include special provisions for people with disabilities and measures to reduce the burden on micro businesses, many of which are owned by women.
In a related development, the President and Chairman of Council at the Nigerian Institute of Public Relations, Dr. Ike Neliaku, used the occasion to caution against the use of unqualified practitioners in the field of public relations. He reminded organizations that hiring individuals who are not registered with NIPR is a violation of the law and attracts penalties ranging from fines to imprisonment.
The event highlighted ongoing efforts by the tax reform committee to shape policies that are inclusive, responsible and forward-thinking, while also reaffirming the importance of professional standards in the communication industry.
